Medallion Bank believes in people and works to help low- and moderate-income individuals, families, and business owners. We focus our support in and around Salt Lake City, Utah, where we are based.
The following are just a few examples of how we support our local communities.
We volunteer to teach financial literacy to children in grades K-6 at Title 1 schools to help them learn to successfully build wealth and participate in the American financial system. We do this by paying our employees to volunteer in Junior Achievement programs.
Our employees serve on boards of directors and on committees of organizations such as The Utah Microenterprise Loan Fund which provides loans to very small businesses that would not otherwise qualify for bank loans.
We make low-interest loans to nonprofit organizations such as Neighborworks Salt Lake to support affordable home ownership through first mortgages and rehabilitation loans.
We invest in specialized financial instruments that support affordable housing, economic development, and job growth through organizations such as the Utah Housing Corporation.
Medallion Bank has been given an “outstanding” CRA rating by the FDIC for these reinvestment efforts in our local community.
If you would like more detail on our CRA activities, read our CRA Strategic Plan here.