On Mutual MDIs vs. Stock MDIs

2024-10-22

Did you know that a Minority Depository Institution (MDI) can be either a mutual MDI or stock MDI? Let me explain.

When it comes to mutual MDIs, like us, we’re in it for our community two-fold. That means we’re not only reinvesting deposit dollars into our neighborhoods, but we’re also putting the residents first by offering financial services and products that best fit their needs. Plus, our leadership and board teams are local to our area – we live, work and play in Cincinnati just like our customers do.

On the contrary, stock MDIs might have an executive team that may live in different cities and states altogether, so it may be harder for them to fully understand the communities in which their banks serve.

While both MDIs serve their communities the best way they know how, the most important thing when it comes to choosing a banking partner is finding what environment you best connect with. Either way, we’ll be here ready to welcome you.

Robie K. Suggs
President and CEO

Find me on LinkedIn: @robiesuggs