LG Kim Driscoll and Deputy Comptroller Donna Murphy headline Financial Equity Summit 2024

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.”

OCC Deputy Comptroller for CRA Donna Murphy gave a keynote address on Wednesday and helped us celebrate our 30th anniversary of our Basic Banking program. She closed with this “I believe improving the economic conditions of LMI families is a moral imperative. And it is also an essential element for maintaining the health of our economy and the safety and soundness of our financial system as a whole. If we continue to work together as a team, government, community organizations, and banks, to dismantle those barriers that keep families trapped in poverty, I’m an optimist, I think we can build a future where everyone has an opportunity to thrive.”

 

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.

Connections, Best Practices, Thought Leaders

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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