ByEdith Rocío Robles
Wells Fargo has invested in 11 Minority Depository Institutions in 2021 as part of a $50 million pledge and a commitment to foster economic growth in Black and African American communities
On Tuesday, Wells Fargo & Company (NYSE: WFC) announced equity investments in five African American Minority Depository Institutions, or MDIs, as part of its March 2020, pledge to invest up to $50 million in Black-owned banks.
As part of the equity capital investment, Wells Fargo is also offering access to a dedicated relationship team that can work with each MDI on financial, technological, and product development strategies to help each institution strengthen and grow.
Although they come from different walks of life, the four recipients of an annual award given by Senior Citizens Inc. have plenty in common. They have volunteered much of their lives and say that in doing so, they have enjoyed helping make Savannah a better place.
The 2021 recipients of SCI’s Legends, Leaders, and Life Well Lived Award are Lila and Dale Critz, Deborah Goldwire and Robert James.
Patty Lyons, president of SCI, said the recipients have contributed significantly to their community, inspired others by the difference they have made, and exemplify a life well lived.
“We are looking forward to celebrating this year’s honorees,” Ms. Lyons said. “They are all inspiring individuals who have helped to make the lives of others better and who inspire us to live life to the fullest.”
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Wells Fargo invests in five additional black-owned banks 3 hours ago
Source: Wells Fargo Wells Fargo & Company (NYSE: WFC) today announced equity investments in five African American Minority Depository Institutions, or MDIs, as part of its March 10, 2020, pledge to invest up to $50 million in Black-owned banks. As part of the equity capital investment, Wells Fargo is also offering access to a dedicated relationship team that can work with each MDI on financial, technological, and product development strategies to help each institution strengthen and grow.
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Wells Fargo & Co (NYSE: WFC) has announced equity investments in five Black-owned banks as part of its pledge of investing up to $50 million in Black Minority Depository Institutions (MDIs).
What Happened: The San Francisco-headquartered financial institution’s investments were aimed at two Georgia-based banks Carver State Bank in Savannah and Citizens Trust Bank in Atlanta plus First Independence Bank in Detroit, Liberty Bank in New Orleans and Unity National Bank in Houston.
This is Wells Fargo’s second round of investments in the MDIs. In February, the company announced investments in Broadway Federal Bank in Los Angeles, Carver Federal Savings Bank in New York City, Citizens Savings Bank & Trust in Nashville, Commonwealth National Bank in Mobile, Alabama, M&F Bank in Durham, North Carolina, and Optus Bank in Columbia, South Carolina.
The February installment of the city of Statesboro’s and Feed the Boro’s effort to provide free supplemental food to local families in need is scheduled for this Saturday beginning at 9 a.m. on the Statesboro High School campus.