Minority Bank Deposit Program
Through the Minority Bank Deposit Program, the Bureau of the Fiscal Service encourages and helps minority-owned banks, women-owned banks, and credit unions that serve low-income communities become depositaries and financial agents.
More than 75 banks and credit unions in more than 25 states and territories are already part of the program. We accept applications from eligible financial institutions throughout the year. Joining is free.Enroll Recertify
Why Join the MBDP:
Get mentoring to help you
- expand capacity and accelerate growth
- develop expertise in working with the Department of the Treasury
- learn from financial market leaders about capital management, compliance, risk management, technology, and more
Be listed on our website and on a list we periodically distribute to federal agencies, interested state and local government agencies, and private sector companies.
How does a bank or credit union join the MBDP?
- Check to see if your bank or credit union is eligible to participate.
- If your bank or credit union is eligible, fill out and send us MBDP Certification Form 3144.
- 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
- 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
- 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