Front row (L-R): Kenneth Kelly- Chairman and CEO of First Independence Bank and Tyann Williams-Allen, Vice President- US Bank Relationship Manager. Back row (L-R): Derron Sanders and Linda Forte, Board of Directors, First Independence Bank; Dr. Lorraine Cole, Director, Office of Minority and Women Inclusion -Department of the Treasury; Russell Zint, US Bank’s Federal Banking Division Manager; Greg Cunningham, US Bank’s Chief Diversity Officer; Corvelli McDaniel, Assistant Commissioner Revenue Collections Management Bureau of the Fiscal Service.
Credit: Lawrence A. Randall
It was recently announced that Detroit-based First Independence Bank, a minority-owned community bank will be the recipient of U.S. Bank mentorship as part of the Bureau of Fiscal Service Mentor-Protégé Program sponsored by the U.S. Department of Treasury. Throughout this three-year commitment, the U.S. Bank will provide First Independence Bank guidance and insight alongside First Independence’s trajectory to become a financial services provider to the Department of Treasury.
“With the mentor-protégé program the Treasury Department intentionally recognizes the importance of small banks in our economy, banks that have historically and traditionally served mostly their local communities,” said Corvelli McDaniel, Assistant Commissioner of Revenue Collections for Treasury’s Bureau of the Fiscal Service. “Now, through a period of preparation and mentorship, small banks will have an opportunity to serve the nation.”
The U.S. Department of the Treasury launched the mentor-protégé program to broaden the capacity of small and community banks. By establishing relationships between the largest commercial banks and small protégé banks, Treasury seeks to expand networks within the financial services industry and to facilitate the inclusion of a broader range of financial institutions in Treasury business opportunities.
“We consider this a high honor and grand opportunity to serve as financial agents to the U.S. Department of Treasury as a U.S. Bank mentee in the Bureau of Fiscal Service Mentor-Protégé Program,” says Kenneth Kelly, chairman & CEO, First Independence Bank. “First Independence Bank keeps its customer’s needs at the forefront at all times, so an opportunity such as this, positions us for continued growth in areas that will allow us to better serve new and existing customers at an expanded level locally and nationally. It will be our goal to demonstrate with U.S. Bank, and the U.S. Department of Treasury that mentorship in business is a benefit to all,” said. Kelly.
First Independence Bank has been serving the Detroit, its surrounding communities and beyond for more than 49 years.
“We are excited about the opportunity to partner with First Independence Bank, leveraging our 30 years of experience as an innovative, trusted advisor and financial agent of the U.S. Treasury,” said Russell Zint, senior vice president and division manager of Federal Banking for U.S. Bank. “First Independence Bank’s values align with ours and we believe our collaboration will lead to broader minority involvement in U.S. Treasury business and greater economic development in our communities.”
U.S. Bank is deeply committed to diversity, equity and inclusion as one of its core values. The company recently invested $1 million in the National Museum of African American History and Culture. Additionally, U.S. Bank committed $1 million in the Chicago Entrepreneurs of Color Fund, providing capital to minority-owned small businesses on Chicago’s South and West sides.
