American Bankers Association Chair Julieann Thurlow today noted the importance—and mutual benefits—of partnerships between banks and minority depository institutions during a summit hosted jointly in Washington, D.C., by ABA and the National Bankers Association.
“One of the reasons MDIs can be so successful is that they have a ground game—they have relationships with community partners and deep ties to the neighborhoods they serve,” Thurlow said at the fall MDI Partnership Summit. “When banks partner with MDIs, they benefit from those deep community ties. And MDIs, in turn, can benefit from the resources, technology and balance sheet capacity that other banking institutions can offer them. That’s a win for MDIs. That’s a win for their partner banks. And—most importantly—that’s a win for the community.”
The overflow crowd at the summit heard from Treasury officials and experts on the MDI landscape, vehicles for deposit and capital for MDIs and a presentation from members of the Economic Opportunity Coalition on partnership opportunities related to their commitments to MDIs.