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Closing the racial wealth gap is imperative to realizing a strong, sustainable economy. From education to housing to healthcare to criminal justice, racial inequality continues to impede the progress of communities of color and the nation as a whole.
For decades, black and brown communities have been underserved—and sometimes unserved—by the United States’ financial system. From access to banking services to redlining to subprime mortgage lending to the recent disparities in relief for small minority businesses during the COVID-19 pandemic, communities of color have historically been disproportionately impacted.
The summits we host, provide a space for banking institutions and the communities they intend to serve to discuss access to capital, affordable housing, neighborhood development, and community reinvestment for these underserved populations.
National Minority Community Reinvestment Co-Operative (NMCRC) is a co-operative of minority-led and focused organizations and thought leaders committed to addressing the socio-economic needs of minority communities through the creation of sustainable economic development opportunities that enhance communities of color. The co-operative relies on Black and Latino networks, relationships, common socio-economic interests, and experiences to improve the overall socio-economic health of all minority communities.
NMCRC aims to enable and empower a growing grassroots network of minority-owned small business and non-profit community development professionals to leverage the billions of dollars pledged by banking and financial institutions and advocate for affordable housing, neighborhood development, and community reinvestment.
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