Minority Depository Institutions (MDIs) are key contributors to their local economies and Fiserv is providing added support for MDIs and their customers through the pandemic.
MDIs make a greater percentage of mortgages and small-business loans to minority borrowers than other financial institutions. These are important services, especially during a time when many individuals and businesses have been negatively impacted by COVID-19.
Fiserv is offering support to MDIs and their minority-owned business customers through our Back2Business program, which is designed to help targeted communities weather the pandemic. Many MDIs will help secure Paycheck Protection Program (PPP) loans for their customers through the next round of funding available from the U.S. Small Business Administration, and we have joined with StreetShares to offer MDIs the opportunity to process up to 25 PPP loan applications for free using the AtlasTM lending platform.
Fast – Streamlined process for borrowers and lenders
Intuitive – Easy-to-use but powerful dashboards
Free – Up to 25 PPP loan applications processed for free
Fiserv supports the Bank On initiative by helping financial institutions offer Bank On-certified accounts to lower-income and underserved consumers.
Fiserv partners with AACUC to support internship and mentorship programs, and help identify research, analytics or technology needs of member credit unions.
The Back2Business program from Fiserv is focused on helping jump-start small minority-owned businesses disproportionately impacted by the COVID-19 pandemic.
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