NCIF presents the findings of the newly released report: Impacts of Reporting Banks and the Mission-Oriented Banking Sector in a series of webinars, now available as slides or a video recording (see below).
The webinars and the report features information on 24 banks who are pioneers in recognizing the importance of collecting, analyzing and leveraging social impact data. The presentation discusses the findings and enumerates the impacts of reporting participants from the mission-oriented banking industry. Top findings include:
- Mission-oriented banks extend credit to underserved communities in groups. Taken as a peer group, reporting banks target 73% of lending to low- and moderate-income communities and to loans that support their missions of community and economic development.
- Banks serve as anchor institutions in economically distressed communities. Reporting banks place 85.7% of their branches in distressed communities. Increasingly, banks are reaching out to clients where they are by offering mobile and online banking and other alternative banking platforms.
- Banks tailor products and services to their communities through products like secured credit cards and small dollar loans to help establish credit.
The webinar includes contextual insights, peer group comparisons, trend analysis, and understanding on how the report and its range of data analyses can be used. Findings are relevant for:
- Investors interested in learning more about mission-oriented banks as potential investment opportunities
- Bank leadership to benchmark their performance and understand potential impact measures to consider
- Regulators and researchers to learn about the cumulative impacts of this important subset of the banking industry.
Review the presentation slides or watch the webinar video below to learn more about the importance of mission-oriented banks.