May 1, 2012
The Community’s Bank 2574 East Main Street Bridgeport, CT 06610
The Community’s Bank,
Wesleyan plays an integral role in the economic, cultural, and educational vibrancy of the community in which it resides. We strive to continuously develop new avenues for mutually beneficial relationships. Our students teach at local schools and prisons, the Wesleyan Green Street Arts center provides free after-school classes, and our concerts and cultural shows are open to the community. In addition to these existing endeavors, we believe our finances can also positively impact the local community. That is why we encourage community banking. By banking locally, our funds will be invested in ways that foster enduring and equitable economic growth in Connecticut.
We chose to bank with The Community's Bank (TCB) because of your commitment to community development and the explicitly social mission to your banking practices. TCB is the only minority owned bank in Connecticut. You are certified by the U.S. Treasury Department as a Community Development Financial Institution, and have been a recipient of a number of grants and investments that enhance your ability to better serve the underserved. For these reasons, your credentials stood out to us. Also, in the hands of TCB, we feel as though our deposit will be put to good work providing needed capital in the Bridgeport community to residents for whom it will make a world of difference. On top of all of this, your bank received the highest possible scores from the National Community Investment Fund (NCIF) Social Performance Metrics Database on Development Lending Intensity and Development Deposit Intensity, which are reliable metrics for demonstrated commitment to serving lower-income populations.
We hope that you recognize our $250,000 6 month CD deposit as a signal to continue your efforts in these areas and as an example of the benefits of socially responsible banking. If your bank continues to meet or exceed our standards for community investment, and you demonstrate to us that our deposit has been used to support positive community endeavors, we would gladly consider continuing or expanding our relationship TCB.
The Committee for Investor Responsibility on behalf of Wesleyan University.