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.