At community banks, we put local economic growth and personal relationships first. You are more than a number in an algorithm. We appreciate you as a customer and a partner in helping our community thrive.
Black banks are more likely to lend to Black people and in low to moderate-income communities. In 2016, according to the FDIC, only 14% of lending from national banks were to low to moderate-income communities compared to 65% for Black banks.
At community banks, we act as the champion of small businesses. We focus on preparing you to grow through financial literacy and the right business loan to take your idea further.
As the nation’s largest FDIC-insured Black-owned bank, we consistently invest in closing the racial wealth gap OneTransaction at a time and support the underserved through innovative initiatives and community-focused programs. Because, for us, our mission is deeply personal. We are founded, owned, and led by the community we seek to serve.
2023 Scorecard: A Commitment to Closing the Wealth Gap
In 2023, we made significant strides in addressing economic inequalities by launching WiseOne™ Insights, an AI-driven tool that offers personalized financial guidance. This initiative, paired with efforts to provide affordable financial services, has benefitted over 100,000 new customers since 2021.
Our dedication to low-to-moderate income communities is evident in our lending practices. For the 12th time, we have received the Bank Enterprise Award (BEA) from the U.S. Department of Treasury, for our community development lending, with over 60% in loans in low-to-moderate income communities.