The Office of the Comptroller of the Currency (OCC) published the latest edition of its Community Development Investments newsletter entitled “Profitable Partnerships: Collaborating With Minority Depository Institutions.”
This edition of Community Development Investments discusses how executives working for minority-owned depository banks can collaborate with large and midsize banks in ways that are profitable and beneficial for all involved parties. The collaborations can help minority depository institutions (MDIs) fulfill their missions and serve the needs of customers in a rapidly evolving industry. The OCC supports bank collaborations that help maintain a vibrant and diverse system of federal banks that support a robust U.S. economy.
In addition, the newsletter explains how banks may receive Community Reinvestment Act consideration for partnerships with minority- and women-owned financial institutions and low-income credit unions that benefit economically distressed communities and meet the credit needs of residents of low- and moderate-income neighborhoods.
This edition of Community Development Investments is part of a group of resources the OCC makes available to assist community banks with collaboration and community development opportunities. In addition, the OCC regularly hosts events to bring the executives of MDIs and other community banks together with executives of large and midsize banks. To learn more about these events and resources, visit www.occ.gov and search for Minority Depository Institutions. In addition, bankers interested in learning more about these resources and events may contact the OCC’s District Community Affairs Officers located throughout the nation.