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ShoreBank
ShoreBank was a community development bank founded and headquartered in Chicago. At the time of its closing it was the oldest and largest such institution, and in 2008 had $2.6 billion in assets. It was owned by ShoreBank Corporation, a regulated bank holding company. ShoreBank had branches in Chicago's South Side (Chicago), South and West sides, Cleveland, and Detroit. Between 2000 and 2006, ShoreBank issued nearly $900 million in loans to citizens in Chicago, Detroit, and Cleveland. ShoreBank and its affiliated companies have projects in 30 countries. ShoreBank incorporated environmental conservation into its mission during the 1990s, helping develop a triple bottom line approach to banking, equally prioritizing profits, impact on people, and the impact of a project on the environment. At that time it established ShoreBank Pacific based in Portland, Oregon. ShoreBank accepted mission-based deposits from across the country through its Development Deposits program, launched in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shorebank Logo
ShoreBank was a community development bank founded and headquartered in Chicago. At the time of its closing it was the oldest and largest such institution, and in 2008 had $2.6 billion in assets. It was owned by ShoreBank Corporation, a regulated bank holding company. ShoreBank had branches in Chicago's South Side (Chicago), South and West sides, Cleveland, and Detroit. Between 2000 and 2006, ShoreBank issued nearly $900 million in loans to citizens in Chicago, Detroit, and Cleveland. ShoreBank and its affiliated companies have projects in 30 countries. ShoreBank incorporated environmental conservation into its mission during the 1990s, helping develop a triple bottom line approach to banking, equally prioritizing profits, impact on people, and the impact of a project on the environment. At that time it established ShoreBank Pacific based in Portland, Oregon. ShoreBank accepted mission-based deposits from across the country through its Development Deposits program, launched in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Urban Partnership Bank
Urban Partnership Bank was a U.S. Federal Deposit Insurance Corporation-insured, full-service community development bank in the United States with $1.4 billion in assets. It was established August 20, 2010 when it acquired the deposits and some of the assets of ShoreBank from the FDIC. It was headquartered in Chicago, Illinois. After chronic losses, it was acquired by on Jan 30, 2019 by Providence Bank & Trust (Illinois), Providence Bank & Trust. The bank's stated mission was to build vibrant urban neighborhoods, promote economic and environmental sustainability in distressed and underserved areas of Chicago, Cleveland, and Detroit. Its customers ranged from individuals to small businesses, nonprofits, foundations, and Faith-based organization, faith-based organizations. The bank placed a special emphasis on serving Underbanked populations. Origin Urban Partnership Bank was founded in 2011 by the former management of the failed, but politically connected, ShoreBank ShoreBan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ron Grzywinski
Ron Grzywinski is a community development banker from Chicago, and one of four founders of ShoreBank. In May 2010 he retired as chair of ShoreBank Corporation and took the position of Advisor to the Board of Directors of ShoreBank Corporation. Early life and career Ron Grzywinski was born in 1936 in Chicago's South Chicago community area on the city's south side. His banking career began at the First National Bank of Lockport, and he moved to the Hyde Park Bank in 1967. In 1973, Ron and three colleagues (Milton Davis, James Fletcher, and Mary Houghton) purchased the South Shore Bank (eventually renaming it ShoreBank) in Chicago's South Shore, Chicago, South Shore neighborhood to fight redlining. It was America's first community development bank, and it has grown into what is, by most accounts, the most successful community development and microfinance institution in the country. The bank's successful combination of a social mission with profitability finds it frequently cited ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Community Development Bank
Community development bank (CDB) or Community Development Financial Institution (CDFI) is a development bank or credit union that focus on serving people who have been locked out of the traditional financial systems such as the unbanked or underbanked in deprived local communities. They emphasize the long term development of communities and provide loans such as micro-finance or venture capital. In the United States these became popular after 1994 when the US Congress created community development banks and allowed them to get funding at very low rates from the US treasury. In the United States In the United States, community development banks are commercial banks that operate with a mission to generate economic development in low- to moderate-income (LMI) geographical areas and serve residents of these communities. In the United States, community development banks are certified as such by the Community Development Financial Institutions Fund, a department within the U.S. De ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Community Development Bank
Community development bank (CDB) or Community Development Financial Institution (CDFI) is a development bank or credit union that focus on serving people who have been locked out of the traditional financial systems such as the unbanked or underbanked in deprived local communities. They emphasize the long term development of communities and provide loans such as micro-finance or venture capital. In the United States these became popular after 1994 when the US Congress created community development banks and allowed them to get funding at very low rates from the US treasury. In the United States In the United States, community development banks are commercial banks that operate with a mission to generate economic development in low- to moderate-income (LMI) geographical areas and serve residents of these communities. In the United States, community development banks are certified as such by the Community Development Financial Institutions Fund, a department within the U.S. De ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Beneficial State Bank
Beneficial State Bank (formerly One PacificCoast Bank, FSB; and OneCalifornia Bank) is an Oakland, California-based community development bank. The bank was founded in 2007 by billionaire philanthropist and former Presidential candidate Tom Steyer and his wife Kat Taylor, to provide loans and banking services to individuals in low wealth communities, including entrepreneurs and existing businesses. History In June 2007, Tom Steyer and his wife Kat Taylor founded a charitable foundation, OneCalifornia Foundation, with $22.5 million. As part of the foundation, they formed OneCalifornia Bank as a non-profit community bank. Their goal when founding the bank and foundation was to finance non-profit organizations, and ensure profits were reinvested in the community. In August 2010, the bank signed an agreement to acquire ShoreBank Pacific, a Ilwaco, Washington-based community bank, and subsidiary of Shorebank Chicago. Together the merged banks would have $300 million in combined as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OneCalifornia Bank
Beneficial State Bank (formerly One PacificCoast Bank, FSB; and OneCalifornia Bank) is an Oakland, California-based community development bank. The bank was founded in 2007 by billionaire philanthropist and former Presidential candidate Tom Steyer and his wife Kat Taylor, to provide loans and banking services to individuals in low wealth communities, including entrepreneurs and existing businesses. History In June 2007, Tom Steyer and his wife Kat Taylor founded a charitable foundation, OneCalifornia Foundation, with $22.5 million. As part of the foundation, they formed OneCalifornia Bank as a non-profit community bank. Their goal when founding the bank and foundation was to finance non-profit organizations, and ensure profits were reinvested in the community. In August 2010, the bank signed an agreement to acquire ShoreBank Pacific, a Ilwaco, Washington-based community bank, and subsidiary of Shorebank Chicago. Together the merged banks would have $300 million in combined as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mary Houghton
Mary Houghton is co-founder of ShoreBank, the largest and oldest community development bank. Houghton, along with Milton Davis, James Fletcher, and Ron Grzywinski purchased what was then South Shore Bank to fight redlining in the Chicago neighborhood. She retired as president in May 2010. Biography In the early 1980s, Houghton and Grzywinski worked with Muhammad Yunus of the Grameen Bank in Bangladesh (Yunus and Grameen Bank received the 2006 Nobel Peace Prize). From 1986 to 2001, Houghton served on the Board of Directors of Accion International. Houghton serves as a director of Vancity Community Investment Bank in Toronto and served as a director of the Calvert Foundation and Women's World Banking. She is a member of the Ashoka Global Academy for Social Entrepreneurship. Houghton received a B.A. ''cum laude'' from Marquette University and an M.A. in International Studies from Johns Hopkins University. In 2009, Houghton served as one of six selection committee members for th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stanley Hallett
Stanley James Hallett (October 6, 1930 – November 24, 1998) was an American urban planner and specialist in urban community development who helped seed numerous innovative initiatives and organizations throughout his career. With the bulk of his professional work taking place in Chicago, Hallett began by working in church civil rights and later turned increasingly toward community economic and environmental sustainability. He and colleagues together created Chicago's Center for Neighborhood Technology(CNT), South Shore Bank (later ShoreBank), Northwestern University's Center for Urban Affairs and Policy Research and other institutions. During his career he worked alongside numerous activists, journalists and religious leaders, including Martin Luther King Jr., Saul Alinsky, George McGovern and Studs Terkel. One of the key concepts that Dr. Hallett would add to urban planning was the idea that there is an 'economy of neighborhoods'; Scott Bernstein, a Hallett disciple and c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Redlining
In the United States, redlining is a discriminatory practice in which services (financial and otherwise) are withheld from potential customers who reside in neighborhoods classified as "hazardous" to investment; these neighborhoods have significant numbers of racial and ethnic minorities, and low-income residents. While the most well-known examples involve denial of credit and insurance, also sometimes attributed to redlining in many instances are: denial of healthcare and the development of food deserts in minority neighborhoods. In the case of retail businesses like supermarkets, the purposeful construction of stores impractically far away from targeted residents results in a redlining effect. Reverse redlining occurred when a lender or insurer targeted majority-minority neighborhood residents with inflated interest rates by taking advantage of the lack of lending competition relative to non-redlined neighborhoods. The effect also emerged when service providers artificially ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Center For Financial Services Innovation
The Financial Health Network, formerly known as the Center for Financial Services Innovation (CFSI), is a nonprofit financial services consultancy headquartered in Chicago, specializing in serving unbanked and underbanked consumers. An affiliate of ShoreBank Corporation, CFSI grew out of a research project conducted in 2002 by a division of ShoreBank on behalf of the Ford Foundation to examine the gap between supply and demand of financial services for low-income consumers as well as potential strategies to close it. The project, authored by Ellen Seidman and Jennifer Tescher showed that millions of Americans are faced with an inadequate supply of well-designed, reasonably-priced financial products and services to both meet short-term needs and provide opportunities for longer-term wealth creation. Work CFSI serves the industry in three primary ways: as an educator, conducting research and disseminating it widely; as a broker, connecting people and organizations within the indu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Detroit
Detroit ( , ; , ) is the largest city in the U.S. state of Michigan. It is also the largest U.S. city on the United States–Canada border, and the seat of government of Wayne County. The City of Detroit had a population of 639,111 at the 2020 census, making it the 27th-most populous city in the United States. The metropolitan area, known as Metro Detroit, is home to 4.3 million people, making it the second-largest in the Midwest after the Chicago metropolitan area, and the 14th-largest in the United States. Regarded as a major cultural center, Detroit is known for its contributions to music, art, architecture and design, in addition to its historical automotive background. ''Time'' named Detroit as one of the fifty World's Greatest Places of 2022 to explore. Detroit is a major port on the Detroit River, one of the four major straits that connect the Great Lakes system to the Saint Lawrence Seaway. The City of Detroit anchors the second-largest regional economy in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
