OCWCOG Releases White Paper on State and Health of Rural Banking

OCWCOG released its The Banking Industry: A White Paper today as part of a year-long research project into the state and health of rural banking in our communities. Rural banking and the institutions that serve rural communities have disappeared in many communities because of shifts in demographics, profitability, economics, and other driving factors within the financial services industry. Banks and credit unions must, like any other business, make choices based on the sustainability of their business model. However, these choices do have impacts on the communities they once served. Small businesses and residents no longer have access to teller and business services, and older residents, many of whom still rely on teller banking, must drive further to conduct business.

OCWCOG’s White Paper does not propose any one action to bring back banking to rural communities, but presents options for communities to seek alternatives.

A copy of The Banking Industry: A White Paper is available HERE.

For more information, contact Fred Abousleman at 541-924-8465.