Ten Simple Ways To Boost Our Local Economy

 

Times are tough. Many are tightening their belts, whether or not they have been directly affected by the sluggish economy.

 

In a hard economy, the best place to begin the rebound is at home. By helping your local economic system, you can support your neighbors, friends, family members and yourself. While some think it takes major dollars to support the community economy, just a few minor adjustments will allow you to make a big impact.

 

To examine ways we can all support the Dorchester area, the Times is featuring a series called, "Ten Steps To Help Our Local Economy." Today, we begin with step No. 1:

 

1.) Bank Locally

If you decide to save your extra money instead of spending it, then you can help your local economy by depositing the funds into a locally-owned bank, like Dorchester's First State Bank. (Forgive us for not having an update picture with the new sign!) Doing so not only supports our local economy, but small banks often have better interest rates and personal service. Community banks like ours in Dorchester focus on the needs of local families, businesses and farmers. Unlike many larger banks that may take deposits in one state and lend in others, community banks channel most of their loans to the neighborhoods where their depositors live and work, helping to keep local communities vibrant and growing. Also, community banks are typically deeply involved in local economic development and philanthropic efforts. Because community banks are themselves small businesses, they understand the needs of small business owners. Support your local bank.