Resource guide promoting investment partnerships with MDIs, CDFIs published by FDIC

A resource guide to promote private and philanthropic investment partnerships with minority depository institutions (MDIs) and community development financial institutions (CDFI) banks insured by the Federal Deposit Insurance Corp (FDIC) was published Friday by the federal bank deposit insurer.

The FDIC said the guide, “Investing in the Future of Mission-Driven Banks,” is the agency’s latest effort to build supportive partnerships between these banks and other financial institutions, private companies and philanthropic organizations.

There are approximately 250 MDIs and CDFI banks insured by the FDIC with combined capital of less than $40 billion, the agency said. The agency said that every dollar of equity capital invested can increase lending by a multiple of the original investment, while every dollar of deposits can only increase lending up to the amount of the deposit. It said grants and other investments may qualify for matching funds in existing support programs, and partnerships between private companies, philanthropic organizations, or other banks “can greatly expand the investment from the original partner.”

The agency said it has also created an online locator that includes every FDIC-insured mission-driven bank and branch in the country; information includes bank type, location, and direct links to each bank.

FDIC Publishes Resource Guide to Promote Investment Partnerships With FDIC-Insured Minority Banks and Community Development Financial Institutions