The Comprehensive Guide to Community Bank of Delaware: Your Trusted Financial Partner

Introduction

Community Bank of Delaware (CBD), a pillar of financial stability in the state, has been serving the financial needs of individuals, families, and businesses for over a century. With a deep commitment to community banking, CBD has consistently ranked among the top financial institutions in Delaware. This comprehensive guide will delve into the history, values, financial strength, products and services, and community involvement of CBD, demonstrating why it stands out as a trusted financial partner.

History and Values

CBD's roots trace back to 1920 when the Farmers Bank of Felton was established. Over the years, through acquisitions and mergers, CBD has grown into a substantial financial institution with 30 branches spanning Delaware and parts of Pennsylvania.

At its core, CBD adheres to the principles of community banking, emphasizing personal relationships, financial literacy, and local involvement. The bank's motto, "Being on Your Side," reflects its deep commitment to serving the best interests of its customers and the communities it operates in.

Financial Strength

CBD's financial stability is a testament to its sound management practices and prudent risk appetite. According to the Federal Deposit Insurance Corporation (FDIC), CBD holds an impressive 5-star rating, the highest rating possible, indicating its financial health and safety.

As of December 31, 2022, CBD boasts:

Source: Community Bank of Delaware, December 31, 2022 Financial Report

Products and Services

CBD offers a comprehensive range of financial products and services tailored to meet the diverse needs of its customers. These include:

• Banking: Checking accounts, savings accounts, money market accounts, and certificates of deposit
• Lending: Personal loans, home loans, business loans, and commercial loans
• Investment Services: Wealth management, investment advisory services, and retirement planning
• Other Services: Cash management, online banking, mobile banking, and financial literacy programs

Community Involvement

Community Bank of Delaware is deeply involved in the communities it serves. The bank actively supports local organizations, schools, and charities through donations, volunteerism, and sponsorships. In 2022, CBD contributed over $1 million to various community initiatives.

Examples of CBD's community involvement include:

• Providing financial literacy programs to local schools and community groups
• Sponsoring financial planning workshops for low-income families
• Supporting local businesses through business networking events and loan programs
• Partnering with community organizations to address important local issues

Why it Matters: The Benefits of Banking with CBD

Banking with Community Bank of Delaware offers several key advantages:

• Personalized Service: CBD values personal relationships and takes a customer-centric approach, going above and beyond to understand and meet individual financial needs.
• Financial Security: With its strong financial standing and high FDIC rating, CBD offers peace of mind to its customers, safeguarding their deposits and investments.
• Local Expertise: CBD's local presence allows it to tailor its products and services to meet the specific needs of its community.
• Community Support: By banking with CBD, customers can support a financial institution that actively invests in the well-being of the local community.

Effective Strategies for Financial Success

Community Bank of Delaware offers valuable guidance to help customers achieve financial success:

• Create a Budget: Track income and expenses to gain control over finances and set financial goals.
• Save Regularly: Start saving early and consistently to build financial stability and reach long-term financial objectives.
• Invest Wisely: Consider investing a portion of savings to grow wealth over time. Seek professional advice when necessary.
• Manage Debt Effectively: Prioritize high-interest debt repayment and consider debt consolidation options to reduce interest charges.
• Protect Your Finances: Obtain adequate insurance coverage to safeguard assets and financial well-being.

Tips and Tricks

CBD shares essential money-saving tips and tricks:

• Negotiate Lower Interest Rates: Contact creditors to request lower interest rates on loans or credit card balances.
• Utilize Online Banking: Take advantage of online banking to track expenses, set up automatic payments, and earn cashback rewards.
• Use Coupons and Discounts: Search for coupons and discounts to save money on everyday purchases.
• Track Gas Prices: Use apps or websites to find the lowest gas prices in the area.
• Shop Generic: Consider purchasing generic brands to save money on groceries and other household items.

FAQs

1. Is Community Bank of Delaware FDIC-insured?

Yes, Community Bank of Delaware is an FDIC member, which means deposits up to $250,000 are insured by the federal government.

2. What is the minimum opening deposit for a savings account at CBD?

The minimum opening deposit for a savings account at CBD is $5.

3. Can I access my CBD accounts online and through mobile banking?

Yes, CBD offers both online and mobile banking services, allowing customers to manage their finances conveniently from anywhere.

4. Does CBD offer financial planning services?

Yes, CBD provides wealth management and investment advisory services to help customers plan for their financial future.

5. How can I contact CBD customer service?

Customers can contact CBD customer service at 1-888-816-4221 or visit their local branch.

6. What is CBD's routing number?

Community Bank of Delaware's routing number is 051926290.

Conclusion

Community Bank of Delaware stands as a cornerstone of financial stability and community support in Delaware and Pennsylvania. With its unwavering commitment to its customers, strong financial standing, comprehensive financial offerings, and active community involvement, CBD is the ideal financial partner for individuals, families, and businesses seeking financial success and a connection to their community.