First Independence Bank
First Independence Bank has served Detroit communities for more than 40 years. They have always treated customers as their most important asset, with products and services designed to best-serve customers' needs. First Independence takes their responsibilities as a member of their community seriously and it is their policy to never trade off profits for citizenship responsibilities. First Independence provides high-quality, meaningful jobs to employees while contributing to the success of their communities and shareholders.
First Independence Bank chairman & CEO Kenneth Kelly has been appointed to the Federal Reserve Bank of Chicago's Community Depository Institutions Advisory Council. The council is comprised of 12 members who are industry leaders across the Midwest, currently representing portions of the five states in the Seventh Federal Reserve District – Michigan, Illinois, Indiana, Iowa and Wisconsin. Chairman Kelly will serve a three-year term on the council from 2018-2020. “I am grateful to be appointed to the Advisory Council to provide insight into our economy in Michigan and the current banking landscape,” said Kelly.
First Independence Bank, a black-owned bank headquartered in Detroit, is gaining a new CEO: Kenneth Kelly, a former Birmingham executive with experience at Alabama Power Co. and Hands-On Birmingham. Kelly will be responsible for leading the bank's local financial operations and overseeing its management infrastructure. "As chairman and CEO, Kenneth brings deep and experienced business leadership to First Independence Bank," said Linda Forte, board member and chairwoman of the human resources committee. "His knowledge, relationships, and expertise will be extremely valuable in leading the bank's growth opportunities in Detroit." Kelly was recognized in the Birmingham Business Journal's 2001 Top 40 Under 40 Class, and has been awarded the United Way Mervyn Stern Award for his leadership contributions in metro Birmingham.
Building on the Bank Black movement that started this past summer, UAW-Ford made a record $1.5 Million deposit in First Independence Bank. This deposit is a concrete way for UAW-Ford to publically demonstrate their commitment to investing in the Detroit community and can be held up as a model for other CDFI banks nationwide who are lookign to cultivate local organizations as customers.