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Company in Summary |
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- First Black-Owned Internet Bank
- First Black-Owned Interstate Bank
- Largest Black-owned bank in the country
- Fulfilling a 100-year old civil rights dream of garnering spending power of Black community and re-channeling it back into Black community.
- Over $550 million in assets, Member FDIC, Equal Housing Lender
- Top rated financial institution by Veribanc, the nation's first bank rating agency
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Accomplishments |
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- Successfully consolidated four Black-owned banks, several with histories that predate the civil rights movement - Founders National Bank of Los Angeles and Family Savings Bank of Los Angeles, Boston Bank of Commerce, Peoples National Bank of Commerce in Miami.
- Increased asset size from $56 million to over $550 million in less than 10 years.
- Financed $500 million in loans since 2003 with almost half in low to moderate-income communities.
- U.S. Department of Treasury Community Development Financial Institution, two-time Black Enterprise Bank of the Year, four-time recipient of the Community Development Financial Institution's Bank Enterprise Award and six-time Federal Home Loan Bank award winning institution.
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Products and Services |
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- Ability to open an FDIC insured savings account online with a great rate from anywhere in the U.S.
- Offers Membership deposit program with great rates and free online banking and Visa® Debit and ATM cards with access to over 5,000 surcharge free ATMs across the country.
- Offers both single-family and multi-family loan programs with competitive rates that support the development of affordable housing, small businesses and churches in urban communities.
- 9 branches in California, Florida and Massachusetts, 130 employees
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