Community development bank
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Notable community development banks
One of the best known community development banks was ShoreBank, founded in Chicago in 1973.[1] ShoreBank had branches in Chicago's South and West sides, Cleveland, and Detroit. The bank established subsidiaries that provide equity investing, consulting, and environmental banking services and affiliated nonprofits that provide related financing, technical assistance, and consulting services. ShoreBank and its affiliated companies have projects in 30 countries. Notably, ShoreBank incorporated environmental conservation into its mission during the 1990s. On August 20, 2010, ShoreBank's banking operations were closed by the FDIC, reopening under Urban Partnership Bank.
The Grameen Bank of Bangladesh is a microfinance organization and community development bank founded by Muhammad Yunus. The bank has grown into a family of over two dozen for-profit and nonprofit enterprises including the Grameen Foundation, and the Grameen Bank and its founder were awarded the Nobel Peace Prize in 2006.
Other CDBs in the United States include:
- Albina Community Bank in Portland, OR
- Carver Federal Savings Bank in New York, NY
- Central Bank of Kansas City in Kansas City, MO
- City First Bank of D.C. in Washington, D.C.
- Dryades Savings Bank in New Orleans, LA
- Hope Community Credit Union in Jackson, MS
- Liberty Bank & Trust in New Orleans, LA
- Louisville Community Development Bank in Louisville, KY
- Neighborhood National Bank in San Diego, CA
- One PacificCoast Bank in California, Oregon, and Washington
- Southern Bancorp in Arkadelphia, AR
- University National Bank in St. Paul, MN
- OneUnited Bank in Boston, MA