This article discusses community colleges as educational institutions that not only prepare students to transfer to other colleges, but also receive transfer students from other institutions as well. The article emphasizes the limited awareness of this transfer reciprocity, both on part of the general public and of policymakers. Cited are the results of a 1998 study that uncovered the existence of multiple transfer patterns. While 52% of the students followed the "typical" transfer path, another 13% attended two community colleges before enrolling at the university, 22% attended a four-year school before enrolling in a community college and then a university, and 13% of the students followed a different pattern. In addition, 8% of the university students enrolled concurrently at both a community college and a university. The article aims to communicate to policymakers the following points in understanding student transfer: (1) the transfer function or niche of community colleges is a complex function; and (2) the community college also serves students who already have a bachelor's degree or higher. To the general public, this article advises: (1) the two-year college is the transfer institution of choice for many students; and (2) attending a two-year college is a highly satisfactory experience for many students, including those students who have attended a four-year college. Table 1 summarizes institutional attendance patterns. Contains 14 references. (AS)