Business
Bank of Charles Town Receives 2022 FHLBank Pittsburgh Diversity, Equity and Inclusion Membership Award; Group Tours Facility of Banking On Diversity Funding Recipient
Bank of Charles Town Receives 2022 FHLBank Pittsburgh Diversity, Equity and Inclusion Membership Award; Group Tours Facility of Banking On Diversity Funding Recipient.
About this update from Potomac Bancshares, Inc.
[{"type":"text","content":"\nToday, the Federal Home Loan Bank of Pittsburgh (FHLBank) announced that Bank of Charles Town (BCT) received the inaugural 2022 FHLBank Diversity, Equity and Inclusion (DEI) Membership Award (Award) for their Banking On Diversity program.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221129005862/en/\nThe Award was designed to celebrate FHLBank member financial institutions that have implemented or supported impactful, innovative DEI initiatives or programs in their communities. Being selected for this award also serves to inform and inspire other financial institutions and communities to enhance their commitments to DEI work in their communities.\n\nFHLBank received nominations covering a range of DEI initiatives that member financial institutions throughout its three-state district have developed or supported. “It was difficult to select a winner from among such dynamic programs and initiatives,” said Katey Malesic, FHLBank’s Chief Diversity, Equity and Inclusion Officer. “BCT’s collaborative Banking On Diversity program, which provides early-stage, interest-free capital to both start-up and existing micro-businesses stood out as having unique community impact.”\n\nIn 2020, BCT leaders, including their employees and board, leveraged their collective observations following the civil unrest ignited by the murder of George Floyd. Together, they put into motion programs that would prioritize financial education and access to capital for historically underrepresented communities, which became the Banking On Diversity program.\n\n“There are structural challenges that our minority communities face every day, and we recognize we must work with our community to do more,” said Alice P. Frazier, President and Chief Executive Officer of BCT-Bank of Charles Town. “We are honored for the Banking On Diversity program to be recognized among so many other programs as financial institutions work to advance equitable solutions.”\n\nAlong with two other neighboring community banks, the innovative Banking On Diversity, Minority Business Loan Fund was created. The three banks, including BCT, collectively funded $1 million in interest-free loans set-aside for minority-owned start-ups or businesses with revenues less than $1 m...