As April begins and Community Banking Month gets underway, Local First Arizona is encouraging Arizonans to “move your money” and bank locally, a shift that can strengthen small businesses’ access to capital and keep more resources circulating in local communities.
The effort is part of Local First Arizona’s annual Move Your Money campaign, which raises awareness about the role community banks and local financial institutions play in supporting Arizona’s economy. The campaign also reflects Local First Arizona’s broader work to help small businesses access capital, connect with local lenders and build long-term financial stability.
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Banking locally also builds resilience that shields Arizona’s economy from global volatility.
“The Move Your Money campaign is a reminder that local banking relationships matter,” said Kimber Lanning, founder and CEO of Local First Arizona. “Local businesses need access to capital and financial partners that understand their realities. Banking locally helps strengthen that support system and keeps more resources within the community, creating more economic stability, jobs and opportunity.”
New findings from Local First Arizona’s sample of participants in the Federal Reserve’s 2025 Small Business Credit Survey show the pressure Arizona small businesses are under: 66% said reaching new customers and growing sales was a challenge over the past 12 months. Even so, 59% expect revenue to grow in the year ahead, a notable show of resolve at a moment when national small business confidence has dropped sharply, driven by rising energy costs and the start of military action against Iran. That gap between how hard things are and how committed these businesses remain — is exactly why Local First Arizona exists.
The survey also demonstrates the importance of access to financing. In the past 12 months, 47% of Local First Arizona respondents applied for some type of financing. Among applicants, 58% sought financing to meet operating expenses, 53% to have available credit for future use as needed, and 42% to expand the business, pursue a new opportunity, or acquire business assets. Among businesses that did not apply, 49% said financing was not needed or they had sufficient financing, while 32% said they were debt averse, 10% said credit costs were too high, and 10% said they were discouraged.
“Arizona’s credit unions take a relationship-based approach to banking, which allows us to better understand and support small businesses at different stages of growth,” said Jason Paprocki, Chief Strategy Officer at Arizona Financial Credit Union. “When people choose to bank locally, it strengthens those connections and helps ensure more resources are available to businesses here in Arizona.”
‘Arizonans, including individuals, businesses and governments, have collectively shifted 16% market share out the world’s biggest global banks and into Arizona’s financial institutions over the past 8 years. ‘That’s a great start,’ said Lanning
When local businesses can secure the financing they need, they are better positioned to hire, grow, overcome challenges, and continue serving their communities. During Community Banking Month, Local First Arizona’s Move Your Money campaign highlights how banking locally can help strengthen the small businesses that help Arizona thrive.
