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community development financial institutions
Trends
- 1Tellus and Central Bank of Kansas City Launch FDIC-Insured Deposit Account▼Fintech Meets CDFI: Tellus and Central Bank of Kansas City Team Up on FDIC-Insured Deposit Account
Fintech company Tellus has announced a partnership with Central Bank of Kansas City, a community development financial institution, to offer customers an FDIC-insured deposit account. The collaboration pairs a technology-driven savings platform with a minority-depositary bank, expanding access to insured deposit products. The announcement was carried via PR Newswire; wider reactions and details on rates or rollout remain limited so far.
- 2Support Urgently Needed for Small CDFIs Serving Underserved Communities▼What the community finance sector needs to stabilize small CDFIs carrying the hardest work
The Kresge Foundation argues that small community development financial institutions, which lend in the most underserved places, need stronger support from across the community finance sector to stay stable. The piece calls attention to the financial and structural pressures these smaller lenders face and discusses what is needed to keep them viable and doing their hardest-impact work.