State Street Announces $100 Million Program for Minority Depository Institutions and Community Development Financial Institutions
State Street Corporation (STT)
Last state street corporation earnings: 4/17 07:38 am
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US:NYSE Investor Relations:
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Source: Business Wire
BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE: STT) today announced a $100 million program to provide low-cost, stable deposit funding to minority depository institutions (MDIs)1 and Community Development Financial Institutions (CDFIs)2, to support the firms’ collective missions of addressing inequities in our communities by working toward a more just and equitable future.As a part of this program, the firm is initially partnering with two mission-driven MDIs - Optus Bank and Mechanics & Farmers Bank (M&F Bank). Both MDIs and CDFIs support low-to-moderate income communities through lending, affordable housing and workforce development.“Our partnerships with MDIs and CDFIs are part of our firm’s broader business strategy to expand the financial market ecosystem and help unlock economic potential by encouraging long term growth and job creation – which ultimately promotes more equitable and prosperous outcomes for our key stakeholders and the communities we serve,” said Ro
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