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Minority Depository Institutions Program

“When I joined the FDIC as Chairman last year, I made it a priority to increase the agency's efforts to promote and preserve minority depository institutions (MDIs). MDIs are vital service providers for minority populations. If not for your institutions, individuals in low- and moderate-income communities might not have access to banking services. You help create jobs, grow small businesses, and build wealth. Because of the investments you make in your communities, your customers have a better opportunity to achieve their American dream.”

FDIC Chairman Jelena McWilliams
National Bankers Association 92nd Annual Convention
Washington, DC, October 2, 2019

To learn more about FDIC’s position on MDIs, go to the Speeches and Testimony page.

Emergency Capital Investment Program Now Open at Treasury

On March 9, 2021, FDIC issued a Financial Institution Letter, Emergency Capital Investment Program Available for Community Development Financial Institutions and Minority Depository Institutions to advise FDIC-insured certified community development financial institutions (CDFIs) and minority depository institutions (MDIs) of the Emergency Capital Investment Program (ECIP) established by the Consolidated Appropriations Act, 2021. Under the ECIP, CDFI banks and MDIs may be eligible for capital investments from the U.S. Department of the Treasury (Treasury) to, among other things, provide loans, grants, and forbearance for small businesses, minority-owned businesses, and consumers, especially in low-income and underserved communities, that may be disproportionately impacted by the economic effects of the Coronavirus Disease 2019 (COVID-19) pandemic. For more information, visit Treasury’s website on ECIP. All applications must be submitted through Treasury’s portal no later than 11:59 p.m., ET on Tuesday, July 6, 2021.

Capital Estimator for Mission-Driven Banks

The federal bank regulatory agencies have developed a capital estimator that will enable mission-driven banks to approximate the impact of additional capital on various capital ratios. Many FDIC-insured MDIs and CDFIs, known as mission-driven banks, are considering raising capital from private companies, large banks, or through the U.S. Department of the Treasury’s Emergency Capital Investment Program. You can use this tool to conduct “what-if” scenarios on various components of your bank’s capital stack.The estimator has been updates to include data of March 31, 2021

Minority Depository Institutions Subcommittee logo

The MDI Subcommittee of FDIC’s Advisory Committee on Community Banking (CBAC) provides a platform for MDIs to offer advice to CBAC regarding the FDIC’s MDI program. The MDI Subcommittee promotes collaboration, partnerships, and best practices. MDI Subcommittee members also share insights into key challenges facing their communities and identify ways to highlight the work of MDIs. To learn more, go to the MDI Subcommittee page.

Maggie Lena Walker: America’s National Treasure in Banking

In 1903, Maggie Walker became the first African American woman to found and charter a bank in the United States, serving as its president and using her standing to foster self-sufficiency and economic empowerment in her community. Learn more about her accomplishments.