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MBDP
Minority Bank Deposit Program

Minority Bank Deposit Program

Through the Minority Bank Deposit Program (MBDP), the Bureau of the Fiscal Service (Fiscal Service) supports the strengthening and preservation of minority-owned banks, women-owned banks, and credit unions that serve low-income communities.

This program helps participating banks and financial institutions receive exposure, technical training and networking with the goal to:

  • become eligible for the Mentor-Protégé program
  • expand capacity and accelerate growth
  • develop expertise in working with the Department of the Treasury
  • participate as a depositary or financial agent at the federal, state or local government level
  • learn from financial market leaders about capital management, compliance, risk management, technology, and more

The Minority Bank Deposit Program was established under Executive Order 11458 (1969). The program expanded its criteria in 1971 under Executive Order 11625 and again in 1979 under Executive Order 12138 to include financial institutions owned or controlled by minority individuals or owned, controlled or operated by women.

In August 1989, Section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) was signed by the President and describes the goals for preserving the number and characteristics of minority deposit institutions.  There are over 5,000 financial institutions in the United States, but only 149 are minority owned.

Fiscal Service has sponsored the MBDP successfully since 1969 and supports the Section 308 goal to promote and preserve these institutions.

Today, more than 67 banks and credit unions in more than 28 states and territories are part of the program. We accept applications from eligible financial institutions throughout the year. Joining is free.

Enroll Recertify

How does a bank or credit union join the MBDP?

  1. Check to see if your bank or credit union is eligible to participate.
    Getting Started
  2. If your bank or credit union is eligible, fill out and send us MBDP Certification Form 3144.
  3. Once in the program, you may
    • participate in our mentoring activities
    • market your services to federal agencies and other potential customers as an MBDP bank or credit union
  4. Renew your listing every year. (We'll send a reminder near your due date.)
    Annual recertification forms and instructions

Government agencies: Use the program

Use participating banks and credit unions for your financial needs.

Federal agencies: If you choose to use an MBDP participant as a depositary, you must coordinate the banking arrangements between your agency's headquarters office and the Fiscal Service.

Federal agencies may use MBDP banks and credit unions to deposit public money, cash advances to federal contractors and grantees, and certain independent demand deposits such as Postal Service deposits, and certificates of deposit (CDs).

Typical CDs include the non-appropriated funds of various military organizations (exchange or club funds), certain Department of Agriculture funds, and funds that the Bureau of Indian Affairs invests on behalf of Indian Tribes and Alaskan Native Villages.

What's the Fiscal Service's Role?

The Bureau of the Fiscal Service:

  • Ensures a financial institution is eligible to participate
  • Keeps the list of participating financial institutions
  • Publishes the list on this website
  • Distributes the list periodically to federal agencies, interested state and local government agencies, and private sector companies
  • Networks with other agencies and associations to promote the program and program participants
  • Works to match eligible participants with available mentors upon application to the Mentor-Protégé program
  • reminds financial institutions on the list of the due date for their yearly recertification

List of Participants

Dozens of financial institutions across the country have partnered with the Bureau of the Fiscal Service to take advantage of the Minority Bank Deposit Program.

View Participants

You may also be interested in:

Department of Commerce Minority Business Development Agency

FDIC Minority Deposit Institutions Program

FRB Minority-Owned Banks Release Dates

National Bankers Association

USDA Office of Small and Disadvantaged Business Utilization

Contact the MBDP Team

BMT@fiscal.treasury.gov 202-874-9604

Last modified 02/19/21