|
Dagmar, MT | I sit on a director's board for a local bank that is statewide Montana. That rate seems high to me, my rate for operating funds is 4.25%, which I consider too high in today's economy. Every meeting I bring up FCS & how they can possibly compete with their rates esp. for long term loans. They say nothing they can do, have to rely on quick turnaround(which is very good & customer loyalty), to stay in competition. All bank's cost of capital now is between 1 & 0% so they're making good money. Nothing wrong with shopping around with different banks imo. | |
|