Apr 19, 2023
The National Bankers Community Alliance (NBCA), 501(c)(3) nonprofit arm of the National Bankers Association (NBA), announces that NBCA will operate as the National Bankers Association Foundation. After two successful years of providing programs and services supporting Minority Depository Institutions (MDIs) and the communities they serve, this transition will increase its impact and work. Since the nonprofit’s inception, it has formed new partnerships, raised $11.4 million, and launched several initiatives to support its goal. The name change from the National Bankers Community Alliance to the National Bankers Association Foundation enables even great alignment and broader recognition of the synergies between our two organizations, thereby amplifying our message of eliminating the racial wealth gap.
"The National Bankers Association Foundation, the National Bankers Association's nonprofit arm research-driven approach, ensures that we address the root causes of inequality while providing services, programs, and sharing resources for minority-owned and operated banks to continue their support for underserved communities, small businesses, and entrepreneurs. We are focused on bridging the digital divide by providing tech solutions for MDIs and working alongside our partners to lead the conversation around driving and measuring impact.,” said Nicole A. Elam, Executive Director of the National Bankers Association Foundation and President and CEO of the National Bankers Association.
The National Bankers Foundation strives to advance the mission of MDIs by addressing the underlying causes of the racial wealth gap, leveraging capital, sharing resources, and providing concrete pathways to prosperity in underserved communities. Guided by four strategic pillars, the National Bankers Association Foundation provide programs and services to support MDIs and the communities they serve: (1) financial wellness, (2) entrepreneurship and small business, (3) research and impact, and (4) collaboration and capacity building.