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Bank:Federal Reserve Bank of Chicago  Series:Profitwise 

Journal Article
Community banks: what is their future and why does it matter?

The U.S. banking system has undergone a dramatic restructuring since the 1970s. One of the biggest changes is the reduced number and market share of community banks. The number of banks with less than $1 billion in assets ? a common definition of community bank ? has declined from approximately 14,000 in 1980 to about 7,000 today. Concurrently, the proportion of assets held by the ten largest bank holding companies increased from less than 25 percent to more than 75 percent, while community banks? share fell from about one third of the market to well under one fifth
Profitwise , Issue Mar , Pages 9-11

Journal Article
Capital-raising among minority-owned banks before and after the financial crisis

The financial crisis and recession of 2008-2010 made the availability of capital a significant area of concern for community banks, and led many of these institutions to seek out sources to rebuild their equity.1 The need for capital may have been even greater for some minority-owned financial institutions. Minority-owned depositories are a small subset of financial institutions, most of which are also community banks, reflecting either black, Hispanic, Asian, or Native American ownership, or majority minority board members and a mission to serve minority populations. Regulators have long ...
Profitwise , Issue 4 , Pages 1-13

Journal Article
IFF achieving scale throughout the region

IFF (formerly Illinois Facilities Fund) became a regional community development financial institution (CDFI) in 2007, extending its reach beyond Illinois to include Iowa, Missouri, and Wisconsin. This year, the expansion has continued into Indiana. In January 2008, IFF added a new office in St. Louis at 1221 Locust Street to augment the local service of existing offices in Chicago and Peoria. The new office helps support the mission of meeting the real estate financing needs of nonprofits across the region.
Profitwise , Issue Sep , Pages 15-18

Journal Article
Education and the Evolution of Earnings Across Population Groups Since 2000

By nearly all macroeconomic measures, the US economy is in good shape: unemployment is low, jobs growth is steady, inflation is stable, and GDP has expanded uninterrupted for 10 years?the longest expansion in US history. The good news from the aggregate data means that most people are in the best economic position they have been in for some time. But by definition, aggregate data cannot tell us whether an overall good economy is benefitting some population groups more than others. This article disaggregates the good news in the macrodata by tracking the fortunes of a variety of population ...
Profitwise , Issue 5 , Pages 1-13

Journal Article
Towards financial literacy: program leaders comment on evaluation and impact

This article reports the results of a qualitative survey of 40 financial literacy programs in the United States, conducted by Michelle Coussens of the Federal Reserve Bank of Chicago, Research Department, and relates these results to three hypotheses of program evaluation and impact.
Profitwise , Issue Oct , Pages 3-11

Journal Article
The impact of poverty on the location of financial establishments: evidence from across-county data

The location of bank branches is an important issue for consumer advocates and other groups that monitor access to financial services for low- and moderate income people. The proximity of banks and their branches to the places where people live and work is one basic element of mainstream financial access. The ability of people to choose from an array of financial products, especially those offered through the banking system, is fundamentally related to the economic well-being of a community.
Profitwise , Issue Apr , Pages 2-5

Journal Article
Participatory Budgeting: Enhancing Community Reinvestment through Public Engagement

Community engagement is not an easy task. This is especially true in communities with historically underrepresented and underserved populations who do not feel connected to the planning process. However, some municipalities across the country are finding success through the use of participatory budgeting.
Profitwise , Issue 3 , Pages 25-28

Journal Article
Community development financial institutions: at the crossroads in Wisconsin

Wisconsin has 21 community development financial institutions (CDFIs). Collectively, approximately $1.5 billion has been allocated to these organizations since the inception of the CDFI Fund at the U.S. Treasury.1 In addition, Wisconsin community development organizations have been awarded approximately $1.3 billion in New Markets Tax Credits; 41 percent of this amount went to CDFIs.2
Profitwise , Issue Jul , Pages 13-17

Journal Article
Engaging corporate leaders and promoting economicdevelopment Milwaukee

The Federal Reserve Bank of Chicago, Milwaukee Urban Entrepreneur Partnership, and the University of Wisconsin?s Center on Business and Poverty convened a series of meetings over the past year to discuss how corporate and civic leadership can be engaged to promote economic development in Milwaukee, Wisconsin.The meetings focused on forging greater links between corporations and small- and minority-owned businesses in the community, and on employment based programs that help provide for the health and wealth of working families and help sustain communities.
Profitwise , Issue Dec , Pages 27-34

Journal Article
From pathways to policy: an overview of green collar jobs advocacy

The term "Green Collar Job" for many of those who use it, represents more than a label describing environmentally friendly occupations. In particular, the expression tends to evoke a hopeful vision of economic development that combines inclusive prosperity and environmental stewardship in complementary ways. Yet even supporters who admire the term's ability to inspire acknowledge its ambiquity and unwieldiness from a technical perspective. Others have even wondered whether the phrase is anything more than a "trendy term for politicians and others to bandy about."
Profitwise , Issue Sep , Pages 2-8

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