First Independence Bank

First Independence Bank

Serving the Greater Detroit Area for over 50 years

Overview

First Independence Bank’s mission is to be a beacon for capital accumulation for individuals and business entities by delivering financial services with an affinity for under-served and minority communities

First Independence Bank, a state‐chartered commercial bank, complies with all applicable laws, rules, regulations, and ordinances of the City of Detroit, the County of Wayne, the State of Michigan, and the federal government. FIB has experience providing services to entities and individuals of varying size and complexity. FIB conforms to National Automated Clearing House Association rules. All depositors of First Independence Bank are insured by the FDIC up to $250,000.

First Independence Bank opened its doors on May 11, 1970. We have served the banking needs of the Detroit Metropolitan area for over 50 years and remain one of two banks headquartered in the City of Detroit, as well as the only African American‐owned bank headquartered in the State of Michigan. Treasury Management Services are generally managed from our Headquarters on Woodward Avenue in Detroit. Other Treasury operations may receive support from individuals in our Clinton Township office.

The Bank is the majority owner of Minority Alliance Capital, LLC (“MAC Leasing”). MAC Leasing is a certified minority‐owned equipment leasing company providing equipment lease financing, leasing administration and lease advisory services for Fortune 1000 companies. Headquartered in West Bloomfield, Michigan, the company is jointly owned by two certified minority‐owned banks. MAC Leasing is committed to helping secure the best quality solutions for financing and managing the complex process of equipment acquisition, life cycle management and asset tracking.

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Products and Services

Why Us

Minority Owned

First Independence Bank is one of only 155 minority depository institutions in the country and the only minority depository institution headquartered in the State of Michigan.

Supporting the Community

First Independence Bank has met the requirements for classification as a Community Development Financial Institution (CDFI). Community Development Financial Institutions share a common goal of expanding economic opportunity in low‐income communities.

Supporting Youth Leadership

First Independence Bank was among the first financial institutions in Michigan to empower young professional leaders by establishing the Millennial Advisory Board.

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