Can we talk about choosing a bank for a small business account in Royal Oak?

I was set on a big national bank for my new LLC, but a friend convinced me to try a local credit union instead, and after 6 months I'm saving over $300 on fees. The personal service when I needed a quick line of credit was way better than I expected. Has anyone else switched from a major bank to a local one for their metro Detroit business?

3 comments

3 Comments

wright.michael3mo ago

Guess the big banks forgot to mention they're basically just fee collectors...

stellac9719d ago

You bring up a good point here sarah_brown. I used to be the type who thought big banks were just the safer bet for business stuff, no questions asked. After dealing with a few surprise fees, honestly, @wright.michael nailed it - they really do feel like fee collectors once you step back and look at it. Moved my cleaning business account to a local credit union in Warren last year, and the difference in how they treat you is night and day. What made you pick First State Bank over the other local options around Ferndale?

sarah_brown3mo ago

My shop in Ferndale uses First State Bank for our business account. We saved about $200 a year just on monthly fees compared to the big chain we were with before. When we needed a new truck loan, they actually knew my name and got it done fast. I agree with wright.michael about the fees, it feels like the big banks just nickel and dime you for every little thing. The local option has been much better for our cash flow.

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