Why Sussex County residents choose community banks

As mobile banking forces the closure of many brick-and-mortar branches across the country and other financial institutions undergo mergers, Sussex County, N.J. residents are seeking community lenders like First Hope Bank for everything from home equity loans and mortgages, to checking accounts.

The decision is an easy one for locals, many of whom have been banking small for generations. Here are the top four reasons why Sussex County residents prefer to bank with community lenders:

1. Local Decisionmakers

True community banks like First Hope understand the needs of the local residents because they are locals themselves. They also use local lenders, who are best equipped to understand the local financial landscape for Sussex County residents.

Because of this, “whenever there is an issue, we can be brought to the table very easily,” explained First Hope Bank President and CEO Dan Beatty. “All of our senior leadership is accessible to our customers.”

Local banks also show up for families and businesses in times of need. During the COVID-19 pandemic, Beatty said First Hope “had associates at the bank working nearly 24 hours a day processing PPP loans” to help local businesses keep their staffs employed. “And big banks, they were doing the same thing – but they were helping their biggest customers and working down the list.”

Ken’s Auto Body, based out of Ledgewood, N.J. saw the struggle first hand. The businessowner tried to get a PPP loan for over six weeks with a different bank, and was unable to get any help from customer service. Frustrated, the owner turned to First Hope for help – which completed the PPP process for the small business within three days.

“We’re a small community bank,” added Beatty, “And we were able to get all of our customers who requested PPP loans and qualified for them taken care of.”

2. Stability

Community banks are not distracted or influenced by what’s happening in the news or on Wall Street. Unlike banks traded on the stock market.

“We don’t take risks in order to hit a quarterly number,” said Beatty. “Sometimes big banks will make decisions that aren’t the best for their customers, but are the best for their shareholders.”

Instead, First Hope Bank is focused on what’s happening here in Northern New Jersey.

“We have very traditional, conservative lending practices, which we know leads to our stability and the safety of the bank,” added Beatty.

3. Unbeatable service

Top executives, relationship bankers, lenders, financial advisors: First Hope Bank’s associates live in the communities they serve.

When you call the bank, you’re not going to be met with an automated messaging system. You’re not going to have your call transferred to a customer service representative overseas. You’ll get a real person, in Northern New Jersey, ready to answer any question you have. And if you visit your local branch regularly, the associates know your name and are ready to greet you with a smile.

Financial advisors are also available, free of cost, to guide you: whether you’re planning to remodel your kitchen with a home equity loan, or saving for a major expense like a home or college tuition.

Sussex County’s pets also benefit when their owners bank small. “We still give out biscuits at the drive thru, and we know our customers’ dog’s names,” Beatty added.

4. Community Investment

When you use community banks like First Hope, you are investing in your neighborhood.

The bank first started giving back to its local communities after World War II, when First Hope gave the Mountain Lakes Fire Department a loan to purchase its first fire truck. To this day, First Hope continues to support local volunteer fire departments with donations and funding.

In Sussex County, First Hope Bank has donated to countless nonprofit organizations, including but not limited to: Project Self Sufficiency, Pass It Along, SCARC, Birth Haven, Ginnie’s House, and the local food pantries.

“We are very much focused on doing good in our neighborhood,” said Beatty.

“The top five big banks, they’re not involved in the community that way because they have other priorities.”

Banking on it

“We’ve been serving our community for 112 years,” said Beatty. “And it’s our number one goal to remain an independent community bank for generations to come.”

On top of offering financial security, great customer service and community investment, First Hope Bank offers excellent borrowing rates. First Hope’s rates on home equity loans, for example, are “almost always best in the market,” said Beatty.

Locals can also take advantage of First Hope’s free checking accounts, wealth management services, and more personalized financial solutions.

Contact First Hope Bank today to get started:

Sparta: 220 Woodport Rd. 973-729-8333

Andover: 161 Newton-Sparta Rd. 973-729-8333