Bank of America (BOA) just announced it will open more than 500 new branches over the next four years. While they might be looking to go head to head with other big banks, chances are they’re looking at invading the turf of community banks and credit unions, and why not?

According to the Independent Community Bankers of America, there are approximately 5,700 community banks at 52,000 locations nationwide, with $4.9 trillion in assets, $3.9 trillion in deposits and $3.3 trillion in loans to small businesses, consumers and the agricultural community. Who is BOA’s target audience? Local customers, who enjoy the personal touch?

More often than not, local businesses operate on a business model based on relationships. This model incentivizes stewardship and customer service instead of the transaction-based model of larger financial institutions. Local institutions reinvest in their local communities and neighborhoods, promoting economic growth that benefits their community.

Community bank and credit union customers are more inclined to visit the branch in person. According to research from Novantas, 60% of community bank customers prefer to come in person to open a checking account.

Going After Customers Where They Live

The “big dogs” aren’t going to wait for local customers to come in once a month, though. They’re going after these customers where they live — on social media — by using software that proactively reaches customers on their phones, tablets and computers. The reason is simple — as more and more banking takes place online or with mobile devices, the online customer experience has become the foundation for financial institutions to cross-sell additional products and services.

So what can community banks and credit unions do to fight back? Fight fire with fire. Not by sending the same email to the same list with the same message over and over, but by giving each customer their own individual website and sending relevant information that is individual and specific to them.

Impossible? Not At All