Minority Depository Institutions Program
Investing in the Future of Mission-Driven Banks
FDIC-insured Minority Depository Institutions (MDIs) and Community Development Financial Institution (CDFI) banks are banks, savings banks, and savings associations (collectively, banks) that serve minority, low- or moderate-income (LMI), and rural communities at higher rates than mainstream banks. MDIs serve minority communities including African American, Asian American, Hispanic American, and Native American. CDFI banks are certified through the U.S. Department of the Treasury by demonstrating they serve LMI communities.
MDIs and CDFI banks, known as mission-driven banks, are small, and building capacity and scale are critical to growing their operations and expanding services to their communities. Grants, equity investments, the creation of an investment fund, deposits, and technology support are a few direct ways that private companies and philanthropic organizations can partner with these institutions.
Each mission-driven bank has different needs and may prefer a mix of these strategies based on its unique business model, strategic plan, history, culture, and financial condition. “Investing in the Future of Mission-Driven Banks” provides insight into ways that private companies and others can invest in and support MDIs and CDFI banks and the communities they serve.
To learn more about how your company can partner with an MDI or CDFI bank:
To find FDIC-insured MDI or CDFI bank headquarters and branches on an interactive map: