Noting that collaboration with Minority Depository Institutions (MDIs) provides “viable options for sound and profitable lending and investments” in underserved communities, the Federal Deposit Insurance Corp. (FDIC) Friday released a guide for banks and others to do just that.
The resource guide (Resource Guide for Collaboration with Minority Depository Institutions), according to FDIC, underscores how community banks and other insured depository institutions can partner with MDIs “to the benefit of all institutions involved, as well as the communities they serve,” FDIC said in a release. “In many cases, institutions engaging in collaborative activities and partnerships with MDIs may receive Community Reinvestment Act (CRA) consideration for such activities.”
The deposit insurance agency said banks and other institutions interested in pursuing collaborative relationships with MDIs should contact the appropriate FDIC Regional Director or Regional MDI Coordinator, or they may “also pursue such collaborative opportunities directly.”
FDIC Resource Guide Highlights Collaborative Opportunities with Minority Depository Institutions