In a newly published resource guide, the FDIC promoted partnerships between "mission-driven banks" (FDIC-insured Minority Depository Institutions ("MDIs") and Community Development Financial Institution banks ("CDFI banks")) and other financial institutions, in order to facilitate "critically needed" banking services to those in communities where such services are not traditionally accessible or affordable.
In the resource guide, the FDIC explained that the aggregate capital for the 247 FDIC-insured MDIs and CDFI banks is less than $40 billion. The FDIC stated that a "modest investment" at one of these institutions can significantly impact the operations and communities served.
Primary Sources
- FDIC Press Release: FDIC Publishes Resource Guide to Promote Investment Partnerships with FDIC-Insured Minority Banks and Community Development Financial Institutions
- FDIC: Investing in the Future of Mission-Driven Banks
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