Being a community that is rural and U.S. Treasury certified Community Development standard bank (CDFI), Southern is completely alert to the necessity of CDFIs in rural areas for the nation. Inside our paper that is recent in Rural America: Insight from a CDFI, we illustrate why CDFIs like Southern are well-equipped to handle the issue of community banking institutions making rural communities centered on Southern’s current purchases of three banking institutions in various Arkansas areas.
Throughout the last three years, over fifty percent of all of the banking institutions in the usa have actually closed. In rural areas, these numbers are also greater because of: the depopulation of rural counties; technical improvements lessening the necessity for offline facilities; not enough succession preparation; and increased and adverse laws associated with the Dodd-Frank Act, which harms tiny, regional loan providers by imposing to them one-size-fits-all monetary parameters directed at big Wall Street banking institutions. Continue reading “Banking in Rural America Insight from a CDFI”