Worcester – Massachusetts Lieutenant Governor Kim Driscoll closed out this year’s Financial Equity Summit before a packed room at Redemption Rock Brewery in Worcester. Speaking to an audience of bankers, community activists, and public officials, Driscoll talked about our state’s history of innovating. “We are so proud of our history. The revolutionary history that created so much of what we rely on today in this country, as you all know, started in Massachusetts. We’re home to so many firsts – first public park, first public library, first newspaper, first public school. We were the first state to pass marriage equality and to really lead when it comes to universal health care. And all of these accomplishments have a couple of big things in common. They were innovative, they were creative and they centered around equity.”
On October 1st we featured local and national panel discussions on innovative Community Reinvestment Act programs. Our keynote speaker on Tuesday was Moddie Turay, CEO of the Massachusetts Housing Investment Corporation and a 2022 Loeb Fellow, who detailed the extraordinary impact of MHIC. “Over our 34 year history, we’ve invested over $3.5 billion dollars…with over 27,000 homes developed and over 7 million square feet of community space…Next year will be our 35th anniversary. We’ve never lost a dollar.”
Thank you to Summit convenors Eastern Bank, Arbella Insurance Foundation and First Citizens Bank; Summit organizers Leader Bank, M&T Bank, Massachusetts Housing Partnership, Needham Bank, Rockland Trust; and Summit supporters Cape Cod Five, Chase, Citizens, Dedham Savings, Massachusetts Housing Investment Corporation and Preservation of Affordable Housing.
Partnership for Financial Equity helps financial institutions to stay current on Community Reinvestment Act requirements and engage in important research and timely conversations about investments in low- to moderate-income neighborhoods . Membership donations to Partnership for Financial Equity are a qualified investment under the State’s CRA statute.
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Our Mortgage Lending Committee works to close the racial homeownership gap and to expand and sustain homeownership in low- to moderate-income neighborhoods.
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Our Small Business Lending Committee promotes the economic vitality of low- and moderate-income communities with insight, ideas and data designed to encourage small business lending and close racial wealth gaps.
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Our Responsive Banking Services Committee supports Basic Banking for Massachusetts and addresses emerging issues impacting access to financial services for low- to moderate income households.
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Our CRA Peer Group is a network, resource and voice providing CRA officers an opportunity to respond to regulatory changes, share resources, and elevate best practices.
Read MoreOctober 17, 2024 – Partnership for Financial Equity is pleased to announce the winners of our inaugural Elevating Equity awards, designed to recognize outstanding bank-community partnerships reaching low- to moderate-income households. Awards were given in three categories – small business lending, mortgage lending, and banking services. Winning partnerships were the Cape & Islands Veterans Outreach […]
Read MoreIf you attended our annual Financial Equity Summit this year, you heard Lieutenant Governor Kim Driscoll talk about centering equity and doing hard things. And Deputy Comptroller Donna Murphy challenging us to “drive positive change.” Our board chair, Brook Ames of Leader Bank, captured the spirit of the event in his opening remarks in Worcester, […]
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“At the Partnership for Financial Equity, our member banks and community organizations are hard at work to understand and comply with the final rule governing the Community Reinvestment Act,” said Brook Ames, SVP, General Counsel and Chief Risk Officer for Leader Bank and chair of the Partnership for Financial Equity.