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South State Invests $ 500,000 in Optus Bank to Help Close Racial Wealth Division

“To fulfill our commitment to close the gap in our community’s opportunities, we need strategic investments from partners along missions like SouthState. With the support of their equity investments, We are in total $ 17 million Almost grown assets with new capital since 2020 $ 300 millionDominique Mujartan, President and CEO of Optus Bank. “It is Optus Bank’s mission and mission to extend this capital to underserved communities, homes and businesses owned by minorities to generate generational wealth.”

“Minority depositors need our support to make a difference in the minority community and enable equal access to banking services. These are in ways traditional financial institutions cannot or cannot. You can access the community. ” Redon Jones, Director of Corporate Stewardship. “Our investment is unique because we are not only providing fairness, but we are also looking for other ways to partner with Optus to meet the needs of these communities.”

With over 5,000 banks in the United States, Optus is one of only 35 banks, both MDI and CDFI.

According to the Federal Deposit Insurance Corporation (FDIC), 22% of Americans are considered to have no or shortage of bank accounts. That is, you do not have a check, savings deposit, or money market account, or you are using some alternative financial service such as a check. Monetization services, payday loans, paycheck prepayments or similar services.

According to the FDIC, banks without bank accounts or banks without bank accounts are likely to have low income, low education, or belong to racial or ethnic minority groups.

With over 90% of Optus’ assets invested in the color community, Optus manages and moves money for individuals and small businesses with the goal of ensuring that wealth building is not the only purpose. Wealthy people who are focused on providing innovative ways to save and borrow.

South State Corporation (NASDAQ: SSB) Is a financial services company headquartered. Winter Haven, Florida.. The company’s nationally chartered banking subsidiary, South State Bank, NA, provides consumer, commercial, mortgage and wealth management solutions to more than one million customers worldwide. Florida, Alabama, Georgia, With Carolinas Virginia.. Banks also serve customers from coast to coast through the correspondent banking sector. Additional information is available at. SouthStateBank.com.

Optus Bank’s Originating back in 1921, a group of visionary and brave African-American leaders founded a bank on the principle that everyone should have access to the American Dream, regardless of circumstances. Did. Optus Bank is a federal-designated minority deposits agency, a US Treasury-certified community development financial institution, and an FDIC insured deposits agency.

Source South State Bank NA

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South State Invests $ 500,000 in Optus Bank to Help Close Racial Wealth Division

Source link South State Invests $ 500,000 in Optus Bank to Help Close Racial Wealth Division

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