Start Community Bank of New Haven, CT. | Your Leadership at Start Community Bank, New Haven, Connecticut
About Start Community Bank
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The First City Fund Corporation (FCFC), Start Community Bank's parent company, was formed in 2004 as a result of a challenge of the city of New Haven to New Haven Savings Bank's conversion to a public company. Since that time, we have been working tirelessly to meet all of the regulatory, compliance, and legal requirements to open a brand new bank in our city.
Our name, Start Community Bank, represents not only the start of a new kind of bank — a community development bank — but also symbolizes our position at the 'start' line to begin a journey that will invest capital in our community, serve as a catalyst for economic and social improvement in New Haven, and create a pathway we will travel together from start to finish to help New Haven families create wealth for themselves and their children.
One example of FCFC's role as catalyst for change is as the first and principal founder of the Elm City Resident Card, a program that encouraged all residents of the city of New Haven to identify themselves and to rise up to meet the responsibilities and opportunities that come with residency in New Haven. Another example is FCFC's funding of New Haven's ROOF Program, an ambitious partnership between the City of New Haven, the Jerome Frank Clinic at Yale Law School, and the Greater New Haven Community Loan Fund. The program has reached out to, counseled, and supported hundreds of New Haven families during the threat of home mortgage foreclosure.
A temporary charter for Start Community Bank from the state of Connecticut Department of Banking was granted in mid-June 2009. We are presently seeking all necessary regulatory approvals from the state of Connecticut Department of Banking, the Federal Reserve Bank, and the FDIC in order to open for business. We are hopeful that such approvals will be forthcoming so that we can open for business in 2010.
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