Minority Bank Deposit Program

Through the Minority Bank Deposit Program (MBDP), the Bureau of the Fiscal Service (Fiscal Service) supports the strengthening and preservation of minority-owned banks, women-owned banks, and credit unions that serve low-income communities.

This program helps participating banks and financial institutions receive exposure, technical training and networking with the goal to:

• become eligible for the Treasury Bank Mentor-Protégé program
• expand capacity and accelerate growth
• develop expertise in working with the Department of the Treasury
• participate as a depositary or financial agent at the federal, state or local government level
• learn from financial market leaders about capital management, compliance, risk management, technology, and more

The Minority Bank Deposit Program was established under Executive Order 11458 (1969). The program expanded its criteria in 1971 under Executive Order 11625 and again in 1979 under Executive Order 12138 to include financial institutions owned or controlled by minority individuals or owned, controlled or operated by women.

In August 1989, Section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) was signed by the President and describes the goals for preserving the number and characteristics of minority deposit institutions.  There are over 5,000 financial institutions in the United States, but only 149 are minority owned.

Fiscal Service has sponsored the MBDP successfully since 1969 and supports the Section 308 goal to promote and preserve these institutions.

Today, more than 72 banks and credit unions in more than 29 states and territories are part of the program. We accept applications from eligible financial institutions throughout the year. Joining is free.