At group banks, we put native financial progress 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, based on 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 give attention to getting ready you to develop by monetary literacy and the correct 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 modern initiatives and community-focused packages. 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 device that provides personalised monetary steering. This initiative, paired with efforts to offer inexpensive monetary providers, has benefitted over 100,000 new clients since 2021.
Our dedication to low-to-moderate revenue communities is obvious in our lending practices. For the twelfth time, we’ve acquired 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 revenue communities.