Minority Depository Institutions: Structure, Performance, and Social Impact
October 30, 2014
In relation to more than 6,800 FDIC-insured financial institutions, the number of MDIs and insured institutions that are certified as CDFI banks is quite small. Only 2.6 percent of insured institutions are currently designated as MDIs, while 1.1 percent of insured institutions are certified as CDFIs (in addition to the CDFIs that are not federally insured depository institutions). MDIs carry a number of different minority designations, with half of MDIs designated as Asian or Pacific Islander American (Asian American), followed by a large share of MDIs with a Hispanic American minority status.