First Independence Bank
First Independence Bank has served Detroit communities for more than 40 years. They have always treated customers as their most important asset, with products and services designed to best-serve customers' needs. First Independence takes their responsibilities as a member of their community seriously and it is their policy to never trade off profits for citizenship responsibilities. First Independence provides high-quality, meaningful jobs to employees while contributing to the success of their communities and shareholders.
Grace Pace, senior vice president of digital banking at Quontic Bank, says banks with rewards checking accounts will often require customers to fulfill specific activities to earn rewards. "With a rewards checking account, the most common activity would be swiping your debit card," explains Pace. "However, some will also encourage behavior, like enrolling in direct deposit or signing up for e-statements." Numerous financial institutions let you earn rewards solely through the rewards checking account. As a result, you won't need to own another bank account or apply for other bank services. First Independence Bank, Industrial Bank, and M&F Bank are also mentioned.
Days ago, the Detroit-based First Independent Bank (FIB) opened for business at the former Wells Fargo bank branch located at 3430 University Avenue S.E. The bank's chairman and CEO, Kenneth Kelly, noted in a press release that the University Avenue branch is "located in the community where it is visible and accessible to all in the Twin Cities... We look at the fact that it is close to the Metro Green Line and bus routes so that under-resourced and unbanked members of the community can easily reach us and use our services to improve their financial outlook." FIB, one of the 17 Black-owned full-service banks in the country, has received approval from the Federal Deposit Insurance Corporation (FDIC) to set up shop in the Twin Cities. The current expansion into the Minnesota market is the result of collaborative action on capital enhancement, marketing, and research with Bank of America, Bremer Bank, Huntington Bank, U.S. Bank, and Wells Fargo.
"My mom always told me to be careful what you pray for," says Damon Jenkins, as he steps into banking history as leader for Minnesota's first Black-owned and Black-controlled full service bank. Jenkins has joined Detroit's First Independence Bank to head the financial institution's Minnesota expansion this fall. The banking venture is in part a response to the tragic murder of George Floyd in Minneapolis last year. And because the incident took place in the neighborhood he grew up in, Jenkins says the tragedy hit him hard. Jenkins’ prayers and preparation landed him his new role as First Independence Bank senior vice president and regional consultant for the Twin Cities. In this role, he will direct all facets of operations for the retail branch offices in the Minneapolis area.