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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Minority Depository Institutions Program

New MDIs

The FDIC’s Minority Depository Institutions program supports a statutory goal to promote and encourage creation of new minority depository institutions (MDIs). To meet this goal, FDIC officials meet periodically with trade groups representing MDIs. In addition, FDIC staff provides technical assistance for groups interested in organizing new institutions and applying for deposit insurance. These depository institutions are often referred to as de novos.

The FDIC maintains a webpage with information and resources important to the deposit insurance application process, including a practical and plain language guide to help organizers navigate the application process and successfully form a de novo institution. Also accessible are applicable laws and regulations, guidance, application forms, and other important resources.

FDIC Case Managers are responsible for contacting applicants attempting to establish a new minority depository institution, to discuss the FDIC’s MDI program and to offer technical assistance during the application process. Each FDIC region’s MDI Coordinator can provide assistance in locating the appropriate case manager.

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