Our MDI Designation

Urban Partnership Bank is an FDIC-insured, full-service community development financial institution with $600 million in assets that was established in August of 2010. It works together with individuals, small businesses, nonprofits, foundations, and faith-based organizations in underserved and distressed urban communities to deliver quality financial services that often cannot be obtained elsewhere.

Urban Partnership Bank strives to build vibrant urban neighborhoods, promote economic and environmental sustainability and create long-term success for its communities and the bank. To help it achieve its mission, Urban Partnership Bank successfully sought and received certification as a Minority Depository Institution.  

What is a Minority Depository Institution (MDI)?

An MDI is designated by the FDIC as any depository institution where 51 percent or more stock is owned by minority individuals or if a majority of the Board of Directors is minority and the community that the institution serves is predominantly minority.

Banking regulators view deposits in certified MDIs as evidence that a non-minority bank is meeting community credit needs and not discriminating against racial minorities. Among the nation’s 8,000 financial institutions, there are less than 200 certified MDIs.  

How can MDIs, Urban Partnership Bank and its community partners help transform urban communities?

Under the Community Reinvestment Act, any financial institution may place deposits at certified MDIs like Urban Partnership Bank to be considered in its CRA rating. Urban Partnership Bank can also access funds from organizations seeking lending relationships with MDIs, and technical assistance from the FDIC to help achieve its mission to build vibrant urban neighborhoods, promote economic and environmental sustainability and create long-term success for its communities and the bank.

Deposits are the lifeblood of a community development bank, and the MDI designation helps banks to attract additional resources so that it can reinvest in its communities, grow small businesses, strengthen nonprofits and develop quality, affordable housing-- all the things that are essential to the well-being of neighborhoods served by the bank.  

Why is this important for Urban Partnership Bank?

The MDI designation puts Urban Partnership Bank in select company. In addition to being a certified MDI, Urban Partnership Bank was certified as a Community Development Financial Institution (CDFI) in July 2011. Certified by the U.S. Treasury, CDFIs are financial institutions specializing in serving low-to-moderate income individuals and communities lacking access to credit, capital, and financial services from traditional financial institutions.

Roughly 40 financial institutions in the U.S. are certified as both an MDI and CDFI.

Interested in banking with a Minority Depository Institution?

If you are interested in learning more about our recent MDI designation or in developing a relationship with Urban Partnership Bank, please get in touch by emailing CustomerService@upbnk.com, or submitting your contact information here.* If your question involves a specific Urban Partnership Bank account or you need to send us any personal or confidential information, you should log into your online banking account to send a secure message.

*Do not send personal or account information unsecured via email. Go to Urban Partnership Bank’s Secure Email portal in Online Banking for more information.

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Urban Partnership Bank is committed to Detroit’s urban neighborhoods and to serving the needs of our customers who live and work there.

- William Farrow
Former President and CEO, Urban Partnership Bank