FDIC-Insured - Backed by the full faith and credit of the U.S. GovernmentWhy Shopping Local Matters
As the holidays draw near and families begin making plans, it’s worth taking a moment to think about how everyday choices, like where we shop or grab a meal, can make a real difference in our community.
When you spend money at a locally owned business, more of that money stays right here in the local economy. It helps support jobs, community programs, and the small businesses that give our towns their character. In fact, studies show that for every $100 spent at a local business, around $52 of that will stay in the local economy, compared to $14 when shopping at national chains. The difference is real, and it matters. (Sustainable Connections)
Not only that but local business is essential to the economy, accounting for 62% of employment growth over the last 25 years (Advocacy SBA). Community banks, such as Murphy-Wall, continue to be the primary lenders to small businesses, facilitating their growth and expansion and fund over 60% of all small business loans under $1 million and serve as the only banking presence in nearly 1/3 of U.S. counties. (ICBA)
Local businesses are more than storefronts, they’re neighbors, friends, and families who invest in the places we call home. They sponsor youth sports teams, donate to local causes, and show up for community events.
This season, whether you’re picking out gifts, meeting friends for dinner, or grabbing a quick coffee, consider choosing a local spot. It’s a simple way to support the people who help make our town vibrant and connected.