Getting Started

The eligibility requirements for participation in the Minority Bank Deposit Program (MBDP) are as follows:

All institutions: Each member of a minority or women’s group having control or ownership of the institution is either a U.S. citizen or a U.S. resident.

Minority Banks and Stock Saving and Loans:

1. Ownership: More than 50 percent of the outstanding stock must be owned by members of minority groups; or
2. Control: A financial institution must be able to demonstrate that minorities hold, by means of voting trust and/or proxy agreements, enough shares so that when added to the shares owned by minorities, minorities control over 50 percent of the outstanding stock for voting purposes.

Women’s Banks: More than 50 percent of the outstanding stock must be owned by women, a majority of the Board of Directors must be women, and a significant percentage of senior management positions must be held by women.

Mutual Savings and Loans: A majority of the Board of Directors must be members of minority groups.

Women’s Stock Savings and Loans: More than 50 percent of the outstanding stock must be owned by women, a majority of the Board of Directors must be women, and a significant percentage of senior management positions must be held by women.

Women’s Mutual Savings and Loans: A majority of the Board of Directors must be women, and a significant percentage of senior management positions must be held by women.

Low-income Credit Unions: All financial institutions must be designated low-income by the National Credit Union Administration (NCUA).

If a minority or women's certification includes stock held by corporations, partnerships, trusts, etc., the financial institution must certify that each such entity is minority owned or controlled, or in the case of women's institutions owned, controlled, and operated by women.

How to Enroll

If your institution meets the eligibility criteria, apply to join the Minority Bank Deposit Program.

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:

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.