Buying Local – More Than A Trend
“Buy Local” is a thriving nationwide movement, and for good reason. According to the American Independent Business Alliance (AMIBA), “independent locally-owned businesses recirculate a far greater percentage of revenue locally compared to locally-owned franchises.” How much more? A whopping 48% vs. 13.6%. (source). And the local businesses who participate in a buy local campaign see more than a 9% increase in sales compared to those who don’t.
Which is why our community benefits from Buy Local Greater Kalamazoo. A homegrown operation founded in 2008, Buy Local Kalamazoo’s mission is to build awareness of the benefits of supporting local independent businesses. The logic is simple – when local business owners and residents purchase services and supplies locally, the economic benefits affect us all:
- Local Economy – Local businesses keep dollars in our community. For every $100 spent locally, $68 stays in our community.
- Nurture Community – Local business owners are committed to investing in the future of our community and contribute to local charitable organizations.
- Local Owner Expertise – Local business owners possess expertise & passion for the products they sell and a greater interest in getting to know their customers – who are, after all, their neighbors.
- Preserve Entrepreneurship – The success of locally owned, independent businesses provides real-life inspiration to our young people, proving that they can stay in Michigan and prosper.
(For more reasons to buy local, visit Buy Local Kalamazoo’s Why Buy Local page.)
When you think about it, these benefits go hand in hand with Educational Community Credit Union and the overall “people helping people” credit union philosophy we apply to both personal and commercial banking. After all, ECCU is local, and it’s the cooperative effort that has allowed us to grow from seven initial members in 1935 to the 37,000+ members and businesses we serve today.
We serve your family, coworkers, businesses, teachers, and healthcare providers and make our lending decisions locally. Your loans are serviced right here in your community, and you’ll always hear a familiar voice or see a familiar face if you have any questions. We donate to several local businesses, like the Fresh Food Fairy, Kalamazoo Nature Center, Southwest Michigan Land Conservancy, Kalamazoo Loaves and Fishes, Housing Resources, Inc., Southwest Michigan SPCA, Girls Scouts Heart of Michigan, just to name a few.
ECCU is proud to be a member of Buy Local Greater Kalamazoo and supports many of the members, both as an organization and personally. We encourage you to support them and buy local too. A member directory can be found here.
Let’s Hear It
We’d love to hear from you: how do you support local businesses?