From the trading of commodities like cattle and agriculture in the ancient world to the modern age of zeroes and ones in online banking systems, history tells an impressive story about the evolution of value. Value began in things, and the further along in history you look, the more form value took for itself in coins and cash. That’s changed.
Money is a currency of value that makes the world go ‘round. Despite its importance, however, only 8% of money in the world today is physical. While money’s current form has become digitized and detached from lived reality, community banking restores visibility and relational value at the local level.
That’s why Signature Bank makes a point to invest right here in Springdale. They recognize that value materialized is value realized, and money serves its purpose best when going into the projects we care about most. At the top of our lists is this place we call home. With their help, our city’s value can truly take form in local life.
While there’s no shame in investing in the world beyond Northwest Arkansas, this is our community. As easy as it is to become isolated in our own attempts to accumulate wealth, investing locally connects us to something both bigger than ourselves and closer to home, prioritizing the wealth and health of the region over our own.
Signature Bank’s investments in up-and-coming businesses, restaurants, and downtown areas connect us to what we can see. And the best part? We get to grow alongside our investments.
As the invisible hand of the economy tugs at each of our pockets, it can be difficult to know who to trust. When much is hidden, much is uncertain. So, I spoke with Knight Weis and Randall Harriman, President and Senior Vice President at Signature Bank in Springdale, to help me think through this.
“Trust is the main thing in banking,” Knight said. “It’s important to find somebody that you really respect and have confidence in.”
Randall concurred, noting that relationship banking is the priority for he and his team. He also made clear that trust is a tether going both ways.
“For us to be able to do business, we have to have people invest in us,” Randall said. “At the heart of every business is people, just like the community.”
Thus, Signature Bank is invested in the community of Springdale in more ways than money. They see their first—and best—investment as one in the people. Gary Head, who founded Signature Bank in 2004, did so to ensure that everyone in Northwest Arkansas would have a bank that was above all locally devoted. On the basis of relation and community, Signature Bank was built to develop, to serve, and to establish trust with the people of this area.
Central to this mission is the cultivation of financial literacy. Finances impact just about every aspect of our lives, allowing us more or less freedom to do the things we love. If we can’t afford our houses, we can’t afford our health. If we can’t afford our health, we can’t afford our sanity. If we can’t afford our sanity, what can we afford?
Consequently, Signature Bank seeks opportunities with clients, on campuses, and with anyone interested to educate them on the importance of financial literacy. In order to recognize the broad implications of finance, it’s vital that we make it a part of our core curriculum. That invisible hand just keeps on tugging at everyone’s pockets, so we might as well learn to shake it.
Knight and Randall indicated that some of the most important financial literacy tips include starting credit early (and using responsibly), building a mix of credit types (i.e., revolving, installment, and mortgage), paying balances on time, avoiding high utilization, saving and investing regularly, educating children from an early age, and paying extra on mortgage and principal when possible.
By learning to channel money toward the things we value most, the cycle of money can come to reinforce the cycle of life. Moreover, investing in Signature Bank means investing in a company that above all values the lives of those they’re invested in. With liquid value, they have a strong track record of helping their clients materialize what would otherwise exist in the imagination alone.
From Signature Bank’s Spanish-speaking branch—Banco Sí—to their philosophy of watering the local community through relationships and education, Knight and Randall represent the bank’s steadfast optimism and commitment to the future of Springdale. As a glue between practicality and vivacity, Signature Bank ensures that as Springdale continues to grow, it does not grow apart, but grows together.
As the invisible hand of the economy tugs at each of our pockets, it can be difficult to know who to trust … So, I spoke with Knight Weis and Randall Harriman, President and Senior Vice President at Signature Bank in Springdale, to help me think through this.