12 Facts About ShoreBank

ShoreBank was a community development bank founded and headquartered in Chicago.

ShoreBank had branches in Chicago's South and West sides, Cleveland, and Detroit.

Between 2000 and 2006, ShoreBank issued nearly $900 million in loans to citizens in Chicago, Detroit, and Cleveland.

ShoreBank incorporated environmental conservation into its mission during the 1990s, helping develop a triple bottom line approach to banking, equally prioritizing profits, impact on people, and the impact of a project on the environment.

ShoreBank accepted mission-based deposits from across the country through its Development Deposits program, launched in 1982, and its online savings account ShoreBank Direct, launched in 2007.

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ShoreBank corporation was the first bank holding company to combine commercial banking, real estate development, nonprofit loan funds, and international advisory services aimed at community development.

Originally developed as a neighborhood development bank for low-income African-American communities, ShoreBank eventually expanded nationally and internationally.

ShoreBank expanded into low-income communities in Detroit, Cleveland, Michigan's Upper Peninsula, Arkansas, and the Pacific Northwest.

ShoreBank established a number of affiliated nonprofits to provide related financing, technical assistance, and consulting services:.

In 1985, ShoreBank worked closely with Clinton to set up the Southern Development Bancorporation, a community development bank serving rural Arkansans.

Under a grant from the Ford Foundation in the 1980s, ShoreBank worked with Muhammad Yunus to help him incorporate Grameen Bank in Bangladesh.

The new management team of the former ShoreBank was allowed by the FDIC to run the newly formed Urban Partnership Bank.