In many rural parts of Arizona, reliable access to banking isn’t just a convenience — it’s a financial lifeline.

The absence of nearby banking can have real economic and social consequences. From depositing paychecks to learning about loans, banks offer financial prosperity that many city folks take for granted.

Here are five reasons why banking access is vital to the success of our rural Arizona communities.

Banking Fuels Local Economies

Small businesses, nonprofits and tourism-based ventures depend on regular access to banking to operate efficiently. Without a local branch or ATM, business owners in rural towns often travel long distances just to handle basic transactions. That’s time that could be spent serving customers or growing their operations.

That is the case in Tusayan, the town of 530 residents located just south of the Grand Canyon. As the “Doorstep to the Grand Canyon,” Tusayan sees millions of tourists drive through each year, but both tourists and residents do not have access to banking in the area. For Tusayan, going to the bank means 1+ hour drives to Flagstaff or Williams just to cash a check or speak with a teller.

In 2022, the Tusayan Town Council issued a proclamation recognizing just how critical banking access is for their town.

Now, Pinnacle Bank is inviting the Tusayan community to learn more and provide input at a Town Hall Community Luncheon on Wednesday, May 21 at 12 p.m. at Squire Resort. Residents will have the opportunity to weigh in on their local banking needs and the potential installation of ATM LIVE, a real-time video banking solution proposed by Pinnacle Bank that allows customers to connect directly with a live personal teller, perform secure transactions, and get help without leaving their community.

Financial Inclusion Creates Opportunity

Without accessible banking, rural populations are often left behind. In remote areas, residents may lack access to traditional financial institutions, pushing them toward check-cashing services, payday lenders and other high-fee alternatives.

According to the Federal Deposit Insurance Corporation (FDIC), approximately 4.5% of U.S. households were unbanked as of 2021, meaning no one in the household had a checking or savings account. The rate was even higher in rural communities, particularly among lower-income and minority populations.

Financial inclusion is about more than just opening a bank account — it’s about creating pathways to credit, savings and financial literacy. Local banking institutions like Pinnacle Bank can offer real-time support, education and trust-building opportunities that online-only platforms or national banks often cannot. In Tusayan, where the nearest bank is over an hour away, reintroducing accessible services like ATM LIVE can be a critical first step in bridging the financial divide.

Relationship Banking Builds Trust

United States bank closures disproportionately affect rural counties, with more than 1,500 rural branches closing between 2012 and 2021, per the National Community Reinvestment Coalition. Unlike national chains that have steadily closed branches in smaller markets, community banks are rooted in local knowledge and personal connections. This relationship-driven model allows banks to better understand customer needs, offer tailored financial solutions and build lasting trust.

Pinnacle Bank’s approach centers on relationship banking — a model that is especially important in areas like Tusayan, where residents want to be seen, heard and supported.

Local Banking Supports Resilience

Access to a local financial institution can be the difference between thriving and just getting by. Local banks provide capital to small businesses, support home ownership and offer personal banking guidance that can help families weather economic instability. Studies show that community banks make 60% of all small business loans in the U.S., even though they hold only about 15% of total banking assets, according to the FDIC.

When rural communities lose banking services, they lose a support system. The Tusayan Town Council recognized this when it issued a proclamation calling for greater access to essential banking services like deposits, payroll, wire transfers and account management.

The Bottom Line

Access to banking should never be a luxury. For rural Arizona towns like Tusayan, regaining that access can reignite economic growth, empower residents, and create a more connected, inclusive future.

Author: Greg Behn is Regional President at Pinnacle Bank, a relationship-driven, family-owned and operated bank serving customers at four locations in Arizona. To learn more, visit www.pinnbankaz.com.