Cuando se trata de construir una economía de Arizona resiliente y autosuficiente, una cosa está clara: invertir en empresas y comunidades locales es vital para nuestra recuperación económica. Desde comprar localmente hasta donde realiza operaciones bancarias, usted es un actor poderoso en esa recuperación ... y eso comienza con el lugar donde se depositan sus dólares.
Según la Administración de Pequeñas Empresas, los bancos comunitarios prestaron servicios a casi el 60 por ciento de los préstamos del Programa de Protección de Cheques de Pago para ayudar a las pequeñas empresas a retener a más de 3.7 millones de empleados. Los bancos comunitarios defienden el espíritu empresarial local y son responsables de más de la mitad de todos los préstamos para pequeñas empresas en la nación, según el Instituto de Autosuficiencia Local.
Por otro lado, los grandes bancos distribuyeron solo el 17% de los fondos de su Programa de Protección de Nómina a empresas locales.
Es hora de poner su dinero donde está su casa.
#MoveYourMoney e invierta en Arizona.
#MoveYourMoney Graphics
News on Local Banking
Closing the Widening Wealth Gap and Restoring the Middle Class
Problemattic | April 12, 2022
The socioeconomic wealth gap is widening everywhere. A number of factors are conspiring to decimate the middle class. Kimber Lanning, CEO of Local First, joins us to talk about strategies to strengthen the middle class and foster a more resilient local economy.
In this episode you'll hear about how Local First deployed over $35MM in small business relief and technical assistance last year, how they approach their mission and how they're working to promote a more diverse, resilient economy.
Republic Bank of Arizona Celebrating 15 Years
Republic Bank of Arizona | March 28, 2022
The setting was the Moon Valley Country Club where a group of local business and community leaders gathered to discuss the prospect of starting a local business bank dedicated to serving Arizona’s business and nonprofit communities.
It was early 2000 and the number of small community banks was minimal. The general consensus from the business owners and leaders was that the local business community was not being properly served by the large national banks.
bankbound | 2022
A comprehensive guide to how local banks benefit your family, your business, and your community.
For most consumers, a local bank or credit union is the best banking choice. You may be wooed by the advertisements of larger banks, but when it comes to keeping more money in your pocket the smart choice is local banking
Arizona Credit Unions See Record Growth and Success: Here’s Why
AZ Big Media | March 18, 2022
On Dec. 6, 2021, the National Credit Union Administration (NCUA) reported that federally insured credit unions added 4.9 million members throughout the year, increasing total membership across the country to 128.6 million in the third quarter of 2021. Many individuals and businesses are choosing to bank with Arizona credit unions, and that trend is clearly represented throughout the state.
'Banking While Black': Free Art Exhibit in Metro Phoenix Explores Racism. How to See it
AZ Central | March 15, 2022
The project, a reconstructed 1930s bank, is commissioned and presented by Arizona State University’s 365 Community Union, a department within ASU Cultural Affairs.
The interactive exhibit will highlight three thriving Black Wall Streets — in Tulsa, Oklahoma; Durham, North Carolina; and Richmond, Virginia — before they were destroyed. "Banking While Black" also will present the history of violence against Black people, integrating the struggles of the past with those of the present.
UPI Loan Fund aims to become Arizona's first Black-owned CDFI lender
Phoenix Business Journal | January 11, 2022
The Unified Progress International (UPI) Loan Fund is a nonprofit organization dedicated to offering low- and no-interest loans to low-income people, with a special focus on serving Arizona’s Black population. The group is an emerging Community Deposit Financial Institution, or CDFI, meaning its founders hope to earn the CDFI designation from the Treasury Department later this year.
Scottsdale Community Bank opens for business, first Arizona bank to launch in 14 years
ABC 15 | January 11, 2022
Scottsdale Community Bank, a startup bank that has been preparing to launch for years, received its state charter on Monday, making it the first new bank, known as a de novo, to open in Arizona in 14 years.
Arizona Federal Gives $3M Bonus Payout to Members
AZ Big Media | January 7, 2022
As part of the credit union’s Member Bonus Payout program, Arizona Federal Credit Union announced today the distribution of a $3 million year-end bonus to its members. Since 2012, the credit union has returned more than $45 million in bonus payouts to participating members.
4 Credit Unions Split $100,000 in MDI Mentoring Grants from NCUA
Credit Union Times | December 16, 2021
“The program helps small, low-income, minority depository credit unions establish mentoring relationships with larger, low-income-designated credit unions that provide guidance in serving low-income and underserved communities,” the NCUA said in a statement.
Southeastern Arizona Federal Credit Union in Douglas, Ariz., with MariSol Federal Credit Union in Phoenix serving as a mentor.
Here are the Lessons Banking Leaders Learned from the Pandemic
Michael Gossie | November 30, 2021
Many of Arizona’s most influential leaders in the financial services sector learned lessons about their businesses and about themselves during the pandemic. Here is a look at some of those lessons learned.
Jennifer Kimmell | August 16, 2021
Many people may be unfamiliar with how a credit union is different from a bank. Understanding the differences may help you decide where you want to bank and the local choices you have in the Valley.
Building a Business as a Latino Entrepreneur
BankRate | June 15, 2021
Small-business revenue took a hit over the last year because of the coronavirus pandemic, and Latino-owned businesses were no exception. In June 2020, 74 percent of Latino-owned businesses surveyed by the Stanford Latino Entrepreneurship Initiative reported revenue decline, and 18 percent reported an increase in costs.
Many Latino credit unions offer the same promise, and here’s a complete guide to Latino credit unions across the United States:
Why Millions of Americans are Now Tapping Credit Unions for Loans
CNBC | February 4, 2021
It's not surprising that many Americans have received loans in the past year given record low-interest rates, but research shows that credit unions tend to lend more than commercial banks during times of crisis; credit unions continued to lend and even increased lending during the current pandemic crisis. By comparison, banks have tended to pull back or even reduce lending during crises.
Dangerous Heat, Unequal Consequences
AZ Central | March 19, 2021
Heat-related illnesses are soaring in Arizona as the planet warms and temperatures rise. Poor communities are bearing the brunt of sickening heat in these states, an analysis by Columbia Journalism Investigations and the Center for Public Integrity found. Experts say racist policies of the past created conditions, never corrected, that makes the heat more dangerous for people there today.
OneAZ Community Foundation Pledges $290k to AZ Nonprofits in 2021
Press Release Desk | March 22, 2021
In celebration of OneAZ Credit Union's 70th anniversary, OneAZ Community Foundation has pledged to award over $250,000 to Arizona nonprofits in 2021. The Foundation is set to launch a new bi-monthly grant program and a 70th-anniversary matching grant program later this year.
Forbes recognizes TruWest as America’s Best Credit Union in Arizona
AZ Big Media | July 15, 2020
TruWest Credit Union has topped the Forbes list of America’s Best Credit Unions, ranking No. 1 in the state of Arizona.
Scores for the financial institutions were based on overall recommendations and satisfaction, as well as five subdimensions (trust, terms and conditions, branch services, digital services and financial advice).
Phoenix Business Journal | January 19, 2021
Arizona Federal Credit Union has joined the web series "The Community Collaborative" to continue to support and promote diversity and inclusion efforts across Arizona.
Ranking Arizona: Top 10 Credit Unions for 2021
AZ Big Media | March 14, 2021
Here are the Top 10 credit unions in Arizona, based on public voting for the 2021 edition of Ranking Arizona, the state’s biggest and most comprehensive business opinion poll. Ranking Arizona is based purely on opinion and ranks companies based on how voters answer this simple question: with whom would you recommend doing business?
The Big Rethink: Credit Unions on Changes Driven by Pandemic
American Banker | March 22, 2021
As the nation passed the pandemic’s one-year anniversary, credit union leaders from across the country reflected on some of the biggest lessons they’ve learned in the past 12 months. Read on for some of their responses.
The Economic Benefits of Climate Action: Marcelo Mena
TED | May 26, 2020
Marcelo Mena, the former environment minister of Chile, is on a mission to create a zero-emission economy in his country by 2050. In a conversation about climate action, he discusses how the COVID-19 pandemic is changing Chile's ambitious plan to tackle climate change -- and explains why the green recovery needs to be powered by both political leaders and citizens alike.
Community Banks: A Local Banking Partner Who Cares
Washingtonian | 2021
If you’ve ever found yourself questioning whether you’re getting the most out of your banking relationship, you aren’t alone. While the idea of switching your finances to a local community bank may seem like a daunting to-do, it’s just a few simple steps that can pay dividends for your overall financial well-being or business growth—all achieved while supporting and strengthening the very community you call home.
Small Banks Helped Businesses Win More PPP Loans
PEW | December 15, 2020
The program gave employers up to 2.5 times their monthly payroll in loans and allowed those loans to be forgiven provided employers avoided layoffs and used the money to pay their employees and rent or mortgage.
The History of Allenville: A Black Community in Arizona Lost to Floods
AZ Central | 2021
Redlining, a practice in which the federal government refused to insure bank mortgages in neighborhoods of color, often prevented Black families from homeownership In Arizona. It was for that reason that Allenville was so special to the families who called it home. They owned property, trusted their neighbors and built a small-scale society.
Vantage West Credit Union and DBSI
DBSI | 2021
Vantage West Credit Union was looking to make a bigger name for itself by evolving its retail presence through a series of transformed branches. After an extensive RFP process, Vantage West knew that DBSI was the only firm that could provide everything they needed.
Fighting Monopoly Power: Banking
Institute for Local Self-Reliance | July 16, 2020
There are only a handful of banks in the U.S. that are behemoth in size, but they currently hold most of the country’s assets. These “megabanks” — including “Big Four” Wells Fargo, Citigroup, Bank of America, and JP Morgan Chase — not only swindle their customers, and taxpayers, to plump shareholder pockets, they fail to meet the financial needs of local businesses and communities.
Racism Has A Cost For Everyone
TEDWomen | December 2019
Racism makes our economy worse, and not just in ways that harm people of color, says public policy expert Heather C. McGhee. From her research and travels across the US, McGhee shares startling insights into how racism fuels bad policymaking and drains our economic potential -- and offers a crucial rethink on what we can do to create a more prosperous nation for all.
How the PPP Is Failing America's Small Businesses
Inc. | May 8, 2020
When the U.S. government authorized the now $669 billion forgivable loan program at the end of March, it was heralded as a lifeline for besieged small businesses. It is not that.
Banks Won’t Stop Funneling Billions Of Dollars Into The Fossil Fuel Industry
Fast Company | March 20, 2020
Despite their claimed support for the Paris Climate Agreement, major global banks have not only continued to pour billions of dollars into the fossil fuel industry since 2015, they financed more fossil fuel extraction and infrastructure companies in 2019 than the year prior—funneling billions into new coal, oil, and gas projects even as experts warn that we need to stop burning these fuels.
Homeownership gap among many economic disparities facing Black Arizonans
Arizona Republic | June 24, 2020
Black Americans trail whites and all Americans generally in several financial measures, including homeownership rates, median net worth and emergency savings on hand. They tend to earn less and have less-secure jobs, as seen in an African American unemployment rate that has spiked amid the coronavirus pandemic.
Wells Fargo Forced To Pay $3 Billion For The Bank’s Fake Account Scandal
Forbes | February 21, 2020
Wells Fargo, the fourth largest bank in the United States, agreed on Friday to pay $3 billion to settle its long-running civil and criminal probes into the heinous accusations of rampant fraudulent sales practices. The San Francisco-based bank announced that it will pay the substantial financial penalty to both the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). Roughly $500 million of the fine will be allocated to the SEC. The regulator will use the funds from the settlement to offer some restitution to the the defrauded customers.
NPR | July 8, 2020
Hosts Stacey Vanek Smith and Darius Rafieyan discuss the #bankblackmovement which encourages people to take their money out of big mainstream banks and deposit it instead into Black-owned financial institutions. This idea is not a new one.
East Lake Park Survey to Launch Black-Owned Credit Union
The Phoenix Local Organizing Committee
Phoenix Local Organizing Committee's Ministry of Trade and Commerce is working to establish a Credit Union in the Phoenix area. The purpose of this survey is to find interested and potential members and learn what services would be beneficial.
The Economic Benefits of Climate Action
TED2020 | May 2020
In a conversation about climate action, the former environment minister of Chile Marcelo Mena discusses how the COVID-19 pandemic is changing Chile's ambitious plan to tackle climate change -- and explains why the green recovery needs to be powered by both political leaders and citizens alike.
Environmental Racism Has Left Black Communities Especially Vulnerable to COVID-19
The Century Foundation | May 19, 2020
As a patchwork of demographic data on COVID-19 is released, it is becoming clear that Black communities across the country have been the hardest hit by the pandemic, both contracting and dying from the disease at rates far out of proportion.
JPMorgan Faces Criminal and Civil Probes Over Mortgages
Reuters | August 7, 2013
JPMorgan Chase & Co, (JPM.N) the biggest U.S. bank by assets, said on Wednesday it is being investigated by criminal and civil divisions of the U.S. Department of Justice over offerings of mortgage-backed securities. The civil division gave the company a notice in May that it had preliminarily concluded that the firm violated federal securities laws in offerings of subprime and Alt-A residential mortgage securities during 2005 to 2007, JPMorgan said.
The Hidden Constitutional Costs of the Carceral System
The Atlantic | June 23, 2020
Thousands of Americans have protested in recent weeks, outraged at repeated and brazen displays of police violence. While the brutality against black people and protesters of all races has rightly been the focus of their anger, the twin institutions of policing and mass incarceration impose other grave, often-overlooked costs on black communities.
I've Been to the Mountaintop (Speech)
Martin Luther King Jr. | April 3, 1968
In this speech supporting the striking sanitation workers of Memphis — delivered on April 3, 1968, the day before he was assassinated — Dr. Martin Luther King, Jr. calls on the audience to move their money from "the banks downtown".
Bank of America to Pay $16.65 Billion in Historic Justice Department Settlement
U.S. Department of Justice | August 21, 2014
The Justice Department and the bank settled several of the department’s ongoing civil investigations related to the packaging, marketing, sale, arrangement, structuring and issuance of RMBS, collateralized debt obligations (CDOs), and the bank’s practices concerning the underwriting and origination of mortgage loans.
My Black Year: Maggie Anderson
TEDxGrandRapids | June 17, 2014
Margarita Anderson and her family were featured in national headlines as they lived exclusively off Black businesses, professionals and products for an entire year. Her stand, chronicled in her book, "Our Black Year," was called The Empowerment Experiment.
AbolishPrivatePrisons.org | December 2019
Phoenix attorney John Dacey quit his private practice to focus on challenging the existence of the private prison industry, which he believes exploits the convicted for profit. He and his dedicated team plan to bring a case against the industry all the way to the Supreme Court. The effort started with a lawsuit filed in June 2020. The NAACP joined John's team for the case.
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