Veritex Community Bank’s Post

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70% of mortgages happen at retail lenders that are called IMBs (Independent Mortgage Bankers). These retail lenders like Guaranteed Rate are not FDIC entities with checking accounts and deposits. We are not regulated by the CRA (Community Reinvestment Act) that requires companies meet community outreach performance metrics from a federal regulator. For that reason, none of the large IMBs (to my knowledge) have a real nationwide initiative to better reach underserved markets or LMI markets (an industry term for what I call working class America). That all officially changed today. Today we announced as the leading #2 retail lender in the country, our official Community outreach initiative. I’m proud to work with Arlyn J Kalinski, FLE on this impactful initiative, that will push the bar on how IMBs approach community outreach efforts. Important to note, we’re not doing this because anyone is forcing us, we’re doing it because we want to bring our unique lending and fintech product offering, to all deserving and hard working communities. Congrats to all our partners and employees supporting the effort. We’re just getting started! #community #lender #marketing #finance #education #outreach National Association of Real Estate Brokers NAHREP - National Association of Hispanic Real Estate Professionals® Conrad Lisco RONALD BERGUM Jim Eboli Tim Sorenson Todd Heaton Jeff Nelson Dean Joseph Moran Guaranteed Rate

Financial literacy is crucial for everyone, including veterans. Understanding how to manage finances, make informed decisions about savings and investments, and navigate benefits and resources available to them can greatly impact their overall well-being and quality of life post-service. It can help veterans make sound financial decisions, avoid debt, and plan for their future.

The AidKit platform has always prioritized accessibility for recipients- offering payment options for both banked and unbanked individuals. Now, we're enhancing this capability by integrating Bank On’s (via Cities for Financial Empowerment Fund) localized community education resources directly into our program design process. We work with our partners during the program design process to understand what information about opening an account will be helpful for recipients, dispelling common misconceptions about banking eligibility, and maintaining choice while promoting financial inclusion. Early results are promising: we've observed a 24% increase in direct deposit adoption in programs utilizing Bank On materials. By combining AidKit's robust cash transfer infrastructure with Bank On's expertise, we're advancing our mission of delivering aid with dignity and fostering long-term financial resilience. Learn more about this work here 🔗 👇 https://lnkd.in/eaRtQhgq

Have you heard about the final rule update to the Community Reinvestment Act (CRA) but unsure of how to fulfill its requirements? While the banking industry embraces the CRA as a means of serving its communities, some don’t realize the full range of opportunities that the CRA presents around financial education. Financial education is critical for the development of low- or moderate-income (LMI) communities and matters to government regulators and for the growth of banks. In addition, digital financial education can help forge relationships with new schools that banks can use to facilitate in-person volunteerism sessions with students, which qualify for CRA service hours. Download the CRA Guidebook to learn how to qualify, track, and fulfill CRA requirements with Blackbaud Corporate Impact Solutions: https://lnkd.in/gkSA_TEp

Working with a team who understands your industry matters. Discover why a bank well-versed in the unique aspects of community association management can be a game-changer. Learn how to choose a bank that anticipates challenges and offers tailored solutions specific to your sector by checking out our latest article: https://bit.ly/3yeRUxj #CommunityAssociations

It's Community Banking Month! Here are just a few ways community banks differ from other financial institutions. Let us know in the comments what you appreciate most about your community bank (hopefully FSBT😊). #fsbt #achievemoretogether #communitybankingmonth #banklocal

𝑪𝒓𝒆𝒅𝒊𝒕 𝑼𝒏𝒊𝒐𝒏𝒔 𝒂𝒏𝒅 𝑭𝒊𝒏𝒂𝒏𝒄𝒊𝒂𝒍 𝑳𝒊𝒕𝒆𝒓𝒂𝒄𝒚 𝑴𝒐𝒏𝒕𝒉: 🧩𝑨 𝑷𝒆𝒓𝒇𝒆𝒄𝒕 𝑴𝒂𝒕𝒄𝒉! What is the most important thing you learned about money as a kid💵? This is a busy month for many Credit Unions as they place a huge emphasis on community empowerment and education. It's a great opportunity to help people understand the role of credit unions within their communities and to educate them on financial literacy. Connect with your local #CreditUnion and see what they are doing this month! #finance #money #experienceJobTracks

Unlock strategic advantages for banks with insights into harnessing the power of New Markets Tax Credits (NMTCs) in our latest blog! Learn how NMTCs enhance CRA credit and de-risk transactions, providing financial institutions with a transformative toolkit. Dive into the details now! https://lnkd.in/gxBj9xN8 #NMTC #newmarketstaxcredit #derisking #communitybanking #communitydevelopment

Whether you’re just starting out or raising a family, creating or growing a business, getting ready to retire—or passing on your life lessons to the next generation. For every milestone, there’s a role for the right bank to play. 𝗪𝗲'𝗿𝗲 𝗵𝗲𝗿𝗲, 𝗙𝗼𝗿 𝗬𝗼𝘂. Find the right banker to assist you and your needs at https://bit.ly/47Yedn5. #community #communitybank #supportlocal #banklocal #bankingforyou