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FDIC launches community financial initiative in Oklahoma

The Federal Deposit Insurance Corp. launched the Alliance for Economic Inclusion, an initiative in partnership with Oklahoma tribal, local, state and federal parties, last week.

“The FDIC is pleased to join this diverse set of community partners to build financial know-how and to increase access to financial services responsive to the needs of people in northeastern Oklahoma,” Mark Pearce, the director of the FDIC’s depositor and consumer protection division, said. “A collaboration that weaves together the strengths of community financial institutions, tribal nations, non-profits, government agencies and other local leaders can do much to promote the economic vitality of the communities in this area and to strengthen the financial stability of the families who live here.”

The FDIC has partnered with the Greater Tulsa United Way and other organizations to create the initiative, which aims to enhance consumer financial knowledge and access to credit, providing small businesses with the technical expertise and capital necessary to prosper and focuses on the financial needs of Native Americans as identified by tribal government.

“Financial stability is the bedrock of community vitality,” Sharon Gallagher, United Way’s vice president of community investments, said. “Having the FDIC interested in the financial needs of the families, small businesses and tribal nations in these communities speaks volumes and helps to provide a pathway to access banking and other financial services. The United Way is looking forward to working with the FDIC and our new AEI partners in this effort.”

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