First Women's Bank
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First Women’s Bank is a new commercial bank that’s founded, owned and led by women. It’s the first new bank in Illinois within the last decade.[1] As a financial institution that is a Member FDIC, Equal Housing Lender, the bank will serve the lending and deposit market nationwide from a single location in Chicago.
The bank’s mission is to close the gender gap in access to capital and promote inclusiveness.[2] CEO Marianne Markowitz says, “We are all about gender equity, not gender dominance.”[3]
History[edit]
On September 23, 2019, First Women’s Bank announced it filed applications with the Federal Deposit Insurance Corporation and the Illinois Department of Financial and Professional Regulation to organize FWBank, an Illinois chartered bank. In addition to filing these applications, the proposed bank also named its initial Board of Directors.[4]
During its private placement offering, First Women’s Bank raised more than $30 million. They had 200 investors, including Billie Jean King, Bank of America and Fidelity Investments.[5] First Women’s Bank’s Mission Partners support the Bank through FDIC-insured mission deposits and lending programs. The group of Mission Partners include Aon, Wendy’s, Comcast Corporation, William Blair and the Western Golf Association.[1]
Nearly two years to the day, on September 22, 2021, First Women’s Bank held its ribbon cutting ceremony in Chicago. Among those in attendance were Chicago Mayor Lori Lightfoot as well as strategic advisors Billie Jean King, Sophia Bush and Nia Batts.[6]
First Women’s Business (FWB) Collective[edit]
In order to provide a community of support to help serve the women’s economy, First Women’s Bank created FWB Collective. The FWB Collective will provide many resources and inspiration to businesses as well as provide access to capital, advisors, mentors, networks, and other resources.[7]
References[edit]
- ↑ 1.0 1.1 Palumbo, Jennifer "Jay". "How One Chicago Bank Is Growing The Economy And Advancing Women In Business". Forbes. Retrieved 2021-10-13.
- ↑ "First Women's Bank". www.firstwomens.bank. Retrieved 2021-10-13.
- ↑ "First Women's Bank gets first new Ill. charter in more than decade - Northwest". digitaledition.chicagotribune.com. Retrieved 2021-10-13.
- ↑ "First Women's Bank submits FDIC application; names Board of Directors". www.businesswire.com. 2019-09-23. Retrieved 2021-10-13.
- ↑ October 2021, 7th (2021-10-07). "First Women's Bank launches in US with focus on female business owners". FinTech Futures. Retrieved 2021-10-13.
- ↑ Bank, First Women's. "First Women's Bank Celebrates Grand Opening". www.prnewswire.com. Retrieved 2021-10-13.
- ↑ "FWB Collective". www.firstwomens.bank. Retrieved 2021-10-13.
See also[edit]
External Links[edit]
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