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MBDP
Minority Bank Deposit Program

Getting Started

Eligible participants for the Minority Bank Deposit Program include:

  • Commercial banks and savings and loan associations which are minority-owned or minority-controlled
  • Commercial banks and savings and loan associations that are owned, controlled, and operated by women
  • Low-income credit unions designated by the National Credit Union Administration.

Mutual Savings and Loan Associations

Mutual savings and loan associations are eligible if members of minority groups compose a majority of the board of directors.

Low-income Credit Unions

Low-income credit unions ar­e defined as eligible if designated by the National Credit Union Administration.

Minority Business

For purposes of MBDP eligibility, the term "minority business" refers to any financial institution that is owned or controlled by one or more socially or economically disadvantaged person(s). The disadvantage may arise from cultural, racial, chronic economic circumstances or background, or other similar cause. These persons include, but are not limited to: Black or African Americans, Asian, Hispanic or Latino ethnicity, American Indian or Alaska Native, Native Hawaiian or Other Pacific Islander, or women.

Minority Ownership or Control

Eligibility for commercial banks and savings and loan associations is based on ownership or control, not on the minority composition of the community served by the financial institution.

The term "minority ownership" refers to commercial banks or stock savings and loan associations where more than 50 percent of the institution's outstanding stock is owned by members of minority groups.

The term "minority control" applies when minority persons hold by voting trust and/or proxy agreements enough shares so that when added to the shares owned by minority persons there is minority control over more than 50 percent of the outstanding voting stock of a financial institution. The voting trust and/or proxy agreements must have a life of at least three years, be irrevocable, and, the trustee (a member of a minority group) must have unfettered discretion in voting the stock.

Women's Bank

The terms "women's bank" and "women's stock savings and loan" refer to institutions where more than 50 percent of the outstanding stock is owned by women, a majority of the board of directors are women, and a significant percentage of senior management positions are held by women.

Women's Mutual Savings and Loans

The term "women's mutual savings and loans" refers to mutual savings and loan institutions where a majority of the board of directors are women and a significant percentage of senior management positions are held by women.

How to Enroll

Complete Form 3144, "Certification Form for Admission" when applying as a new participant. The form must be completed, notarized, and mailed to the following address:

US Department of the Treasury
Bureau of the Fiscal Service
401 14th Street, SW — Room 314
Washington, DC 20227

If you have not maintained your certification on a continuous basis and would like to re-apply, you must complete the Form 3144 to be considered.

Last modified 08/30/19