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First Independence Bank

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Detroit-Based First Independence Bank's Expansion Leads To Minnesota's First Black-Owned Bank

Minnesota just got its first Black-owned bank, and it’s nestled in the twin cities. Specifically located in Minneapolis, Detroit-based First Independence Bank opened its first location outside of Michigan and the new site is the first of two that will be in Minneapolis.

Josh Rodgers

May 5, 2022

MassMutual Great Lakes, First Independence Bank Announce Partnership To Close Racial Wealth Gap

MassMutual is linking up with Michigan’s only Black-owned bank to work toward closing the racial wealth gap! According to the news release , First Independence Bank (FIB) is the only Black-owned bank in Michigan and through the new strategic alliance with MassMutual Great Lakes (MMGL), they’ve committed to helping the underserved reshape how they view money. “At MassMutual Great Lakes, we believe every individual, small business owner, and corporation deserves the right to financial services and strategies designed to create stability,” said MassMutual Great Lakes Manuel Amezcua in an official news release. “Our commitment is to develop meaningful relationships that reshape the financial well-being and success of a diverse group of individuals and institutions in the communities we serve.” Since its launch in 1970, FIB has served the dreams and financial needs of Black Americans and is one of only 155 minority depository institutions, according to Black Enterprise, in the nation and...

Shanique Yates

May 18, 2021