NBA and NCIF Partner for Minority Banks

The National Bankers Association (NBA) and NCIF recently partnered in a joint effort to promote Minority Depository Institutions (MDIs) and their important role in communities. NCIF and NBA jointly sent letters on behalf MDI banks that are in both organizations’ networks, detailing how MDIs operate in underserved areas, providing important products and services. Many of these banks offer important services like check cashing and small dollar loans at lower rates than alternatives, helping clients to improve their financial security. MDIs also provide important access to credit for small businesses and jobs providers within communities. Review the group of Congresspeople with whom we connected below.

In addition to promoting impacts, the advocacy effort also focused on the lack of New Market Tax Credit (NMTC) allocations provided to MDIs in the most recent round of funding. Because of their role in communities, NCIF and NBA advocate for additional NMTC and other investments in MDI and mission-oriented banks.

NBA has a long legacy as an advocate for the nation's minority- and women-owned banks on legislative and regulatory matters.  NCIF also works to support these banks, and the greater mission-oriented finance industry by both investing in and providing data-driven research to the institutions and their supporters. Read the letters NBA and NCIF wrote here.

 

Minority Depository Institutions Location Congresspeople    
Broadway Federal Bank, FSB Los Angeles Sen. Barbara Boxer Sen. Diane Feinstein Rep. Ted Lieu
Carver FSB New York Sen. Kirsten Gillibrand Sen. Chuck Schumer Rep. Charles Rangel
Citizens Trust Bank Atlanta Sen. Johnny Isakson Sen. David Perdue Rep. John Lewis
City National Bank of New Jersey Newark, NJ Sen. Cory Booker Sen. Bob Mendez Rep. Donald Payne, Jr.
Continental National Bank Miami Sen. Bill Nelson Sen. Marco Rubio Rep. Ileana Ros-Lehtinen
First American International Bank New York Sen. Kirsten Gillibrand Sen. Chuck Schumer Rep. Nydia Velazquez
The Harbor Bank of Maryland Baltimore Sen. Ben Cardin Sen. Barbara Mikulski Rep. Elijah Cummings
        Del. Eleanor Holmes Norton
Industrial Bank Washington, D.C. Sen. Ben Cardin Sen. Barbara Mikulski Rep. Donna Edwards
        Rep. Steny Hoyer
M&F Bank Durham, NC Sen. Richard Burr Sen. Thom Tillis Rep. GK Butterfield
Mission National Bank San Francisco Sen. Barbara Boxer Sen. Diane Feinstein Rep. Nancy Pelosi
Native American Bank Denver Sen. Michael Bennet Sen. Cory Gardner Rep. Diana DeGette
Pan American Bank Los Angeles Sen. Barbara Boxer Sen. Diane Feinstein Rep. Lucille Roybal-Allard