MCJ Editorial: Coming new year finds our community’s financial institutions solid and viable

Merry Christmas! This is the time when so many people are busy with the hustle and bustle of the season; a time when it’s common to see people running from store to store to buy gifts for loved ones.

This is also the time when so many people find themselves in debt, exhausting their funds and choosing to hold off on paying necessary bills for the sake of seeing their loved-ones eyes light up at the sight of the perfect present.

There was a time when families began their Christmas savings for the next year as soon as they finished the shopping for that year.

Of course, those were the days when making Christmas bountiful required disciplined savings and even “lay away” to guarantee Santa’s list.

Many from “those days” still put aside savings for Christmas, summer trips, the kids’ educations, retirement and the future. If only people nowadays would follow suit.

Though people nowadays are without excuse. There are institutions put in place to give people in our community options for financial security.

In fact, those financial institutions that are savvy in responding to the needs of the community have extra value in building a stronger central populace.

Legacy Bank, North Milwaukee State Bank and Columbia Savings and Loan, all Black-owned, are viable financial institutions that have long-served our community.

We need them to remain viable, available and sensitive to building our communities.

Despite the recent economic downturn, which hopefully has begun to bottom-out, each financial institution is showing steadfast growth and putting infrastructures in place to better serve the needs of the greater-Milwaukee community.

In fact, Legacy Bank is still very much a viable banking institution. They have remained committed to continuing business as usual during a time that has proved difficult for many of its peers in the industry.

North Milwaukee State Bank continues to increase its value in new markets and inside of its own corporate walls.

Hiring new talent and promoting its own appears to be the formula for success, as the bank recently made key promotions and hires to further propel itself for success.

And Columbia Savings and Loan by no means is left out. It recently opened its new office building across the street from its old location, near Fond du Lac and North avenues.

Each banking institution is diligently working to remain solvent and capable of responding to our needs. As such, we must work to ensure that they continue to remain viable and solid.

Now is the time to open that Christmas savings, summer travel or retirement-spending account. We have many institutions that have long serviced our banking needs.

Remember them in the New Year. To fail to do so would be a real “SHAME!”