Local banks celebrate Community Banking Week in Illinois – WREX-TV

ROCKFORD (WREX) — “Growing stronger communities” is the theme of a week that celebrates local banks across the state of Illinois, April 4-10 marks the 31st Community Banking Week.

The week celebrates the contributions local banks make to their economies and the nationwide economy. At the height of the pandemic, and throughout, community banks helped local businesses navigate the Paycheck Protection Program and other grants they may qualify for.

Local banks reinvest their money through loans in their own neighborhoods, whereas national banks may take deposits from one local economy and lend in others.

The challenges of the pandemic are what led to the 2021 theme of growing stronger communities.

“I think it’s just a way to highlight the fact that all of the things we do, communities and being local and close to home is important and making sure that we’re focused on helping to make our local communities as strong as possible,” said Tom Walsh, Northwest Bank President.

For more on Community Banking Week, click here.

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