Supporting Small Businesses, and the People that Run Them: Our partnership with Continental Bank

The economic fallout from the Covid-19 pandemic has many small, local operations on the brink of collapse.

Now more than ever, small businesses and their owners need a flexible bank who is not only willing to listen, but actually able to help—and help quickly. Continental Bank is a small, growing bank that is still run by its sole founder.

Raisin chose to partner with Continental Bank, serving its local community for nearly 20-years, to bring high-yield savings products to our individual savers. Here's why this bank is worth checking out.

Continental Bank was founded in 2003 and is based in Salt Lake City, Utah. The bank specializes in providing banking and lending products to small businesses and their owners nationwide.

It focuses on Small Business Administration (SBA) loans, commercial equipment financing, community association banking, commercial real-estate lending, construction lending and professional practice financing. Continental Bank is also a preferred lender for 7(a) loans, which provide financial assistance to small businesses.

Continental Bank prides itself on being fast and flexible. They also stay involved in their local community. Every year, the bank provides higher-education scholarships, and in 2020, those scholarships went to two first-generation college students.

Individual employees also completed more than 190 hours-worth of community service in 2019 and donated $28,500. Community service and charitable giving are ingrained in the bank’s culture.

Continental Bank is proud to serve the particular needs of its tight-knit community.

Here’s how the difference plays out. If you have $50,000 in a business savings account with 0.02% APY, you’ll earn $10 in interest in one year and $20 after two years. If you keep that money in a savings account with 0.45% APY, you’ll earn $225 in interest after one year and $451 after two years.

With Raisin, these kinds of high-yield savings accounts are now available through your account.

The Federal Deposit Insurance Corporation (FDIC) protects bank customers by keeping their money safe. The FDIC was developed after the Great Depression, when thousands of banks closed, and consumers lost millions of dollars.

Continental Bank is FDIC insured, which means customers can rest assured knowing their funds are secure even in the event of a bank closure.

FDIC insurance applies to both individual and business customers and covers up to $250,000 worth of assets per depositor, per insured bank for each account ownership category.

If you’re interested in choosing a savings offer from a community-focused bank, then check out Continental Bank and start saving today.