FICA Impact: Doing good with cash
Align cash balances with clients’ values without sacrificing safety
or liquidity
" With cash, impact investors can help boost institutions’ lending power & their support for community reinvestment programs that do everything from building schools to creating jobs. "
Helping local communities
Through FICA Impact, cash is deposited to a select network of financial institutions nationwide. These deposits help fund loans that grow local communities and small businesses.
100% of FICA Impact financial institutions meet one or more of the following:
Minority Depository Institutions (MDIs), Low-Income Designated Credit Unions, Community Development Financial Institutions (CDFIs)
Community banks (<$10B) with a Community Reinvestment Act (CRA) Rating of 1 or 2, indicating a performance of Outstanding or Satisfactory*
Community banks and credit unions that operate in the nation’s counties that are most diverse, resource scarce, and have the highest concentration of minority-owned businesses as per U.S. census data
*The CRA requires the Office of the Comptroller of the Currency (OCC) to assess the institutions’ CRA performance. The OCC assigns one of four CRA ratings to a bank. 1- Outstanding, 2- Satisfactory, 3- Needs to Improve, or 4- Substantial Noncompliance. Information on CRA ratings are is publicly available on the OCC’s website and are subject to change at any time.
