a fantastic bank working in Chicago, primarily among Asian immigrants
As we enter into a difficult time as a national and as a global community, it may seem like the time to panic and isolate one’s self from the world. However, it is more important than ever to have faith in each other, even as some lose faith in larger institutions. This is why now is a fantastic time to consider moving your money from a megabank to a local institution- if only because the big banks, during times of economic and social crisis, have done nothing but take resources without keeping their commitments to the communities they work in.
Local institutions are also less likely to get federal support than the big banks, when they often need it more. That’s why today we’re featuring a fantastic bank based in Chicago that also happen to be a Minority Depository Institution. Asian Americans have faced unacceptable, if predictable, discrimination during this period of time, particularly in major urban areas where it’s harder to keep out of close contact with others. American Metro Bank is an Asian-American majority bank which has been working in low- and moderate-income neighborhoods in Chicago to provide both small business and housing loans.
Having been established in 1997 with their mission statement emphasizing community support and development, they’ve been bringing capitol to the underserved in Chicago through an effective lending portfolio. Both of their locations are in low-income census tracts, and one is in Chicago’s Chinatown, providing service in both Chinese and English. They offer both online and mobile banking, so you can take measures to social distance even while receiving essential banking services, particularly impressive as they are a very small bank, with only $80.5 million in assets.
We found this bank through our search engine, as it’s the third-best banking institution in the Chicago area according to our metric. Now is the time to think about the difference your money can make in the world, because in today’s world, every positive change is sorely needed. Depositing in local banks and patronizing community businesses, particularly Asian-owned banks and businesses, can be one of the best ways to support affected communities in this trying time. Consider opening an account with American Metro Bank today! They’ll even let you do it by phone.