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Community Developments Investments (May 2018)

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A Look Inside ...
This edition of Community Developments Investments reviews how minority depository institution (MDI) collaborations with large and midsize banks can be profitable for the parties involved and help MDIs fulfill their missions and serve customers in a rapidly evolving industry.
  iberty Bank and Trust, a New Orleans MDI, partnered with the National Community Investment Fund and U.S. Bank to finance the Gateway Marketplace, Detroit’s first major retail project in decades.
Community Reinvestment Act Consideration for Collaborations That Promote Community Development
Banks may receive Community Reinvestment Act (CRA) consideration from partnerships with other financial institutions, including those with minority- and women-owned financial institutions and low-income credit unions.
  The East Baltimore Development Initiative used new markets tax credits, which is an eligible community development activity under the Community Reinvestment Act.
Catalyzing Impact: NCIF Fosters Bank Partnerships With MDIs
The National Community Investment Fund (NCIF), a nonprofit organization, has invested in mission-oriented banks, including MDIs. To encourage high-impact projects, the NCIF provides metrics and information that banks can use to analyze potential partnerships, projects, and investments.
  Joseph Haskins Jr. with award
Citibank: Partnering With Community Banks to Expand Financial Access
The Citi Community Automated Teller Machine (ATM) Network allows customers of Continental Bank and several other community banks to use—without paying out-of-network fees—any of Citibank’s 2,400 branch ATMs in cities nationwide.
  Spanish language marketing in Continental Bank’s lobby in Miami is presented by, from left, Sonia Canessa-Gonzalez, CFO of Continental National Bank; Natalie Abatemarco of Citibank; and Natalia Arana, Marketing Director of Continental National Bank.
Texas Capital and Texas National Banks: Collaborating for Mutual Benefit
Texas Capital Bank is collaborating with and providing correspondent banking services to Texas National Bank and other MDIs and community development financial institutions.

Resources
A variety of resources is available to help banks interested in developing mutually beneficial partnerships with MDIs that may receive CRA consideration.
  Jesse Jackson, a Senior Vice President of Texas Capital Bank, and Jose “Joe” Quiroga, President of Texas National Bank, consider their partnership mutually beneficial.