Mark Bergeron’s Post

🌟 𝗖𝗲𝗹𝗲𝗯𝗿𝗮𝘁𝗶𝗻𝗴 𝗘𝘅𝗰𝗲𝗹𝗹𝗲𝗻𝗰𝗲 𝗶𝗻 𝗖𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆 𝗕𝗮𝗻𝗸𝗶𝗻𝗴! 🌟 In the latest round of evaluations, the Federal Deposit Insurance Corporation (FDIC) has recognized five banks for their outstanding performance under the Community Reinvestment Act (CRA). This acknowledgment highlights their commitment to serving low and moderate-income communities effectively. 🔹 Key Insights: Truist Bank in Charlotte, NC, has been praised for innovative lending programs. Garfield County Bank in Jordan, MT, shines with its community-focused initiatives. Mt. McKinley Bank in Fairbanks, AK, demonstrates a strong dedication to local economic growth. 🔹 By the Numbers: 5 banks received the "Outstanding" rating. Over 70 banks were reviewed in total, with most achieving at least a "Satisfactory" rating. This recognition impacts how banks are perceived in terms of social responsibility. 🔹 Why It Matters: Encourages banks to focus on community development. Ensures that financial services reach underserved populations. Promotes economic inclusivity and stability. Join the conversation on how these banks are setting standards in community service. #BankingExcellence #CommunityReinvestmentAct #FDIC #SocialResponsibility #FinancialInclusion

“The Community Reinvestment Act is one powerful tool promoting bank access, but cynical lobbyists and banks like Capital One are suing to hide their deposit product pricing from CRA examiners,” said NCRC President and CEO Jesse Van Tol. via Jeremy Nobile w/ Crain's Cleveland Business https://hubs.ly/Q02Zz-7n0

A productive morning with PACB - Pennsylvania Association of Community Bankers President and CEO Kevin Shivers and Christina Carden with the CrossState Credit Union Association discussing ways we can help protect seniors from #FinancialAbuse at WITF, Inc. ! Stay tuned for an upcoming episode of The Spark radio show featuring them both very soon! #BankLocally #CommunityBanking #PreventFinancialAbuse

Had an eye-opening networking session today with the incredible Jessicia Myers and Sara Butch from First Federal Bank of Kansas City! 🏦🤝 In the credit union world, we often talk about our "people helping people" philosophy. Today, I discovered that community banks, particularly First Federal Bank of KC, are driven by the same spirit! Key takeaways: - First Federal Bank is run by a board of directors, not shareholders - aligning their focus squarely on community needs. - The parallels between credit unions and community banks in prioritizing people over profits was interesting. - We found common ground not just in finance, but in our personal lives too - swapping stories about kids and sports! Jessicia and Sara, thank you for this enriching exchange. It's heartening to see that whether in credit unions or community banks, the core mission of serving people and communities remains strong. To my network: Have you experienced similar "aha moments" when networking outside your immediate industry? The insights can be game-changing! Learning the 90% - People of All Colors Succeed (POAC Succeed) #CommunityBanking #CreditUnions #NetworkingInsights #PeopleHelpingPeople Jamie Grayson

Carver Bank is grateful to all our clients who take the time to share their positive experiences. It is because of our incredible clients that we have been able to provide local residents with a place to save, grow businesses and build wealth, block by block and generation to generation for over 75 years. Where you bank matters! #growwithcarver #savewithcarver #carverbanknyc #communityfirst #communitybanking #bankingforgood #bankingforimpact #clientexperience #customerexperience

District-57 ABMs met this week to discuss empathy and it's connection to credit union philosophy. We walked in the shoes of many of our members and fellow employees through an interactive simulation on what it's like to live near poverty level or at or slightly above ALICE and all the tough decisions faced. We then discussed the iconic "Umbrella Man" created by Boston Globe artist, Joseph Stern in 1923. Today, we face all the same challenges of the 20s and more! The Umbrella Man of the 1920s depicts how credit unions protected members from hard times, sickness, and financial distress. Our AMBs, Leslie Raynor, Lezlie Mull, Bryan Kornemann, and Stephanie Spencer identified and discussed how SECU protects our members from today's issues: scams, fraud, inaccurate financial information circulating on social media, and inflation. At SECU, like all credit unions, we are focused on protecting our members by strengthening their financial aptitude by listening to our members' stories, challenges, and dreams and setting them on the path to fulfillment through education, financial counseling, and financial planning services. If you would like an SECU employee to assist with any sort of financial literacy programming or discussion, please reach out to your local branch. #weareSECU and #weareheretohelp #teamSECU #financialliteracy #empathy #walkinsomeoneelsesshoes #spent

Today, we issued a list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in October 2024. Read more https://lnkd.in/eequbWNM

Did you know that community banks represent 90% of insured institutions nationwide, hold $3.31 trillion assets in 32,571 branches and offices and employ more than 460,000 people? This was such an interesting conversation about community banking with Kurt Kappa of First Federal Lakewood; Jerry Benko of The Middlefield Banking Company; and Sean Apicella of S&T Bank. https://lnkd.in/gthz5Utm

It Takes Nearly 4 Years to Save for a Down Payment in Minneapolis #minneapolis #minneapolisjomes #minneapolishousing #minneapolisrealestate #minneapolisrealestateagent #minneapolisrealtor #minneapolisrentals #minneapolishomebuying #minneapolisloan #minneapoliscity

📰 Historic Redlining Settlement Against Federal Credit Union 📰 The U.S. Department of Justice has announced a landmark $6.5 million settlement with Citadel Federal Credit Union for discriminatory redlining practices targeting Black and Hispanic neighborhoods in Philadelphia. This marks the first redlining settlement with a credit union in U.S. history as part of the Combating Redlining Initiative and the 14th settlement since October 2021. Key actions from Citadel include: ✔️ $6 million for mortgage subsidies in Black and Hispanic communities. ✔️ Opening 3 new branches in these underserved areas. ✔️Enhanced credit education, advertising, and outreach efforts. This settlement is a significant step toward equity, offering new opportunities for homeownership and financial growth for communities of color. Complaint: https://lnkd.in/eA46ekzh Consent Order: https://lnkd.in/euqMTh75 Contact ComplianceTech today to schedule a meeting to learn about our automated tools for fair lending and consulting services. Modest investments in proactive redlining compliance can save your credit union and its reputation over time. #FairLending #Redlining #CreditUnions