At group banks, we put native financial development and private relationships first. You might be greater than a quantity in an algorithm. We admire you as a buyer and a accomplice in serving to our group thrive.
Black banks usually tend to lend to Black individuals and in low to moderate-income communities. In 2016, in response to the FDIC, solely 14% of lending from nationwide banks had been to low to moderate-income communities in comparison with 65% for Black banks.
At group banks, we act because the champion of small companies. We deal with making ready you to develop by means of monetary literacy and the suitable enterprise mortgage to take your concept additional.
Because the nation’s largest FDIC-insured Black-owned financial institution, we constantly put money into closing the racial wealth hole OneTransaction at a time and assist the underserved by means of modern initiatives and community-focused applications. As a result of, for us, our mission is deeply private. We’re based, owned, and led by the group we search to serve.
2023 Scorecard: A Dedication to Closing the Wealth Hole
In 2023, we made important strides in addressing financial inequalities by launching WiseOne™ Insights, an AI-driven software that gives personalised monetary steering. This initiative, paired with efforts to supply inexpensive monetary providers, has benefitted over 100,000 new prospects since 2021.
Our dedication to low-to-moderate earnings communities is clear in our lending practices. For the twelfth time, we’ve got obtained the Financial institution Enterprise Award (BEA) from the U.S. Division of Treasury, for our group growth lending, with over 60% in loans in low-to-moderate earnings communities.