FDIC Publishes Resource Guide to Promote Investment Partnerships With FDIC-Insured Minority Banks and Community Development Financial Institutions
October 16, 2020
Resource Guide to Promote Investment PartnershipsWith FDIC-Insured
Minority Banks and Community Development Financial
WASHINGTON – The Federal Deposit Insurance
Corporation (FDIC) today published a new resource guide to promote
private and philanthropic investment partnerships with FDIC-insured
Minority Depository Institutions (MDIs) and Community Development
Financial Institution banks (CDFI banks). “Investing in the Future of
Mission-Driven Banks” is FDIC’s latest effort to build supportive
partnerships between these banks and other financial institutions,
private companies and philanthropic organizations.
MDIs and CDFI banks provide critically needed banking products and
services to small businesses and individuals in minority and lower
income communities in urban and rural areas that have traditionally
lacked access to safe and affordable credit. Many of these
institutions are small, and building capacity and scale are critical
to growing their operations and expanding services to their
There are approximately 250 MDIs and CDFI banks
insured by the FDIC with combined capital of less than $40 billion.
Consequently, modest investments at any one of these institutions can
have an enormous impact on their operations and the communities they
serve. Every dollar of equity capital invested can increase lending by
a multiple of the original investment. Every dollar of deposits can
only increase lending up to the amount of the deposit. In addition,
grants and other investments may qualify for matching funds in
existing support programs, and partnerships between private companies,
philanthropic organizations, or other banks can greatly expand the
investment from the original partner.
The FDIC has also created
a MDI and CDFI Bank locator that includes every FDIC-insured mission-
driven bank and branch in the country. Information includes bank type,
location, and direct links to each bank.
The FDIC welcomes
comments or suggestions about this publication or the
agency’s Minority Depository Institutions (MDI) Program. Contact the
MDI Program at [email protected]
Brian [email protected]
The FDIC does not send unsolicited e-mail. If
this publication has reached you in error, or if you no longer wish to
receive this service, please unsubscribe.
Disclaimer: RegRadar is not endorsed nor affiliated with the source authority. This material does not constitute any advice. This material is machine translated and does not constitute an official translation by the source authority. Please note that the information can be obtained free of charge through the source website.