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.