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Community Impact | M&F Bank
Community Impact Now
Community Impact

OUR COMMUNITY IMPACT

Why M&F Bank?

  • We are the only Community Development Financial Institution (CDFI) and minority-owned bank in North Carolina.  Our CDFI status distinguishes us from other banks because it means that we focus on meeting the needs of underserved communities.
  • We regularly support various organizations and nonprofits in our communities with over $70,000 donated in 2019.
  • We recycle 83% of our deposits back into the communities that we serve in the form of loans.
  • Our associates and management team are involved in various community organizations and non-profits in the markets that we serve. We also attend and participate in over 80 community events every year.
  • We provide financial literacy workshops in all markets served
  • We conducted virtual workshops to help business owners and community members understand how they could utilize the Paycheck Protection Program (PPP)to support their businesses during the COVID-19 pandemic.
  • We generated 171 PPP loans totaling $16 million, impacting over 1,300 jobs. 75% of the loans were disbursed to minority-owned businesses. We were able to provide funding across 16 markets in North Carolina.
  • We have maintained an outstanding Community Reinvestment Act (CRA) rating for 25 years. This means that it has been determined that we have a proven track record of meeting the credit needs of the individuals, businesses, and nonprofits in our local communities.

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