Seaway Bank & Trust Company, the largest black-owned bank in Chicago, was closed on January 30th by the FDIC and taken over by the State Bank of Texas, the largest Indian-American-owned and operated bank. All 10 Seaway branches are expected to remain open and will continue operating under the Seaway brand.
Darrin Williams' recent opinion piece in the Arkansas Gazette extols the virtue of the Earned Income Tax Credit (EITC) program for low-income families and advocates for the passage of the Working Families Opportunity Act, which would create a statewide EITC program to accompany the federal program. Southern Bancorp, like many CDBA members participates in the Volunteer Income Tax Assistance program (VITA). Southern employees volunteer because they know that it supports their mission of creating economic opportunity for those who need it most.
Teri Williams, President and Chief Operating Officer of OneUnited Bank, penned an Op-Ed on why the #BankBlack Movement and the MDI community at large, is generating significant benefits for minority & LMI community nationwide.
Are you planning on applying for the 2017 CDFI Program Awards or NACA Program Awards? The CDFI Fund is tentatively planning to announce the opening of the application rounds in mid-February 2017. As there are significant changes to the FY 17 application, the CDFI Fund has published draft versions of the 2017 application to its website. Applicants should note that additional changes may still be made to the applications, and that a final version will be made available when the Notices of Funding Availability (NOFAs) are released. The CDFI Fund is also offering in-person training on the applications in Washington, DC on February 28th and March 1st.
The Chief Retail Banking Officer is primarily responsible for the management, supervision, and direction of the retail/consumer products and services division for the purpose of growing loans and deposits, increasing fee income, and controlling expenses. Please circulate this job to any colleagues or contacts you think would be an excellent fit.
The benign credit environment and increase in bank stock value in the aftermath of the U.S. presidential election, has created favorable environment for small bank mergers and acquisitions. Analysts from S&P Global Market Intelligence forecast that the loan yield for small banks will expand by nearly 40 basis points in 2017.
Leveraging the power of social media, OneUnited Bank hosted a Q&A session with President & Chief Operation Officer Teri Williams and Trabian Shorters, the founder & CEO of the BMe Community. Click here to watch the recorded Facebook Live video.
Albina Community Bank is seeking a Senior Universal Banker to support with all over-the-counter banking services as well as with complying with banking laws & regulations.
Albina Community Bank and Beneficial State Bank are taking steps to increase impact in 2017 with several key leadership changes that build on the work of departing Albina CEO Cheryl Cebula. A 30-year banking veteran, Cebula joined Albina in 2003 and most recently returned the bank to strength and stability after the turbulent financial crisis. In preparation for Cebula’s March 31, 2017 departure to pursue other opportunities, her leadership roles are being assumed by Kat Taylor and Dan Skaff, co-CEOs of Beneficial State.
Listen to Lisa Servon, Professor of Urban Planning at the New School, discuss her new book, "The Unbanking of American" on NPR's Fresh Air. The book is an anthropological look at the world of informal banking alternatives targeted at low-moderate income communities. Dr. Servon immersed herself into this world and spent several months working a check-cashing business in the South Bronx and as a payday lender in Oakland.