Marquette Bank Earns 12th Straight Outstanding Rating from CRA
Marquette Bank Celebrates Milestone Outstanding CRA Rating
Marquette Bank, a neighborhood bank rooted in community values and a banking subsidiary of Marquette National Corporation (MNAT), has achieved a monumental milestone by receiving its twelfth consecutive ‘Outstanding’ rating under the Community Reinvestment Act (CRA) from the Federal Reserve Bank of Chicago. This prestigious designation highlights the bank's unwavering commitment during its most recent evaluation period.
Paul McCarthy, the Chairman of Marquette Bank, expressed pride in this achievement, stating, “This rating reflects our commitment to making a meaningful impact in the communities we serve. Marquette Bank is dedicated to providing affordable access to financial services and community development.” This statement underscores the bank’s focus on enhancing neighborhood financial well-being.
The CRA is a federal mandate that encourages financial institutions to meet the credit needs of their surrounding communities, particularly those in low- and moderate-income brackets. Evaluations are based on various factors, including lending practices and community investments, which ultimately lead to performance ratings. Since the year 2000, Marquette Bank has stood as a leader in community revitalization, consistently achieving one of the top ratings among banks nationally.
Commitment to Community Development
Manny Jimenez, First Vice President and CRA Officer for Marquette Bank, elaborated on the bank's philosophy by saying, “We believe in the power of neighborhood-oriented financial services and look forward to continuing to collaborate with our neighbors, nonprofits, local governments, and the business community to foster opportunities for everyone in Chicagoland.” Such a proactive stance speaks volumes about the bank's mission to create inclusive financial solutions.
Several key factors contribute to Marquette Bank's ongoing success. High employee engagement and volunteerism, combined with productive partnerships with local nonprofits and community groups, are pivotal. The bank prioritizes affordable housing, impactful financial education, and consistent community outreach, all while blending financial innovation with personal, friendly service. A recent survey of 3,832 customers revealed that individuals are twice as likely to recommend Marquette Bank to friends and family compared to the industry average for this metric.
Unique Offering to Customers
Betty Harn, Executive Vice President of Marquette Bank, reinforced the bank’s community-centric approach by saying, “When you bank with Marquette Bank, it benefits you and your family, but it is also good for your local neighborhood and Chicagoland.” The idea that banking should be a personal and familial experience resonates with many long-time customers, some of whom have been with the bank for generations.
Furthermore, the bank’s Marquette Neighborhood Commitment initiative has garnered significant recognition. It received the American Bankers Association Foundation Community Commitment Award for Volunteerism at the national level and the Excellence and Innovation Award from the Community Bankers Association of Illinois (CBAI) at the state level. Such accolades highlight the effective integration of services aimed at enhancing community welfare.
Celebrating 80 Years of Service
As part of its commitment to celebrating community milestones, Marquette Bank is set to hold a grand event in honor of its upcoming 80th Anniversary. On a specified day next month, customers can enjoy refreshments in the bank’s lobby and will receive a special anniversary tote bag. This celebratory event not only marks the bank's contribution over the decades but also ensures that the community continues to feel valued.
Marquette Bank has been a steadfast partner for families and businesses in the Chicagoland area since 1945, offering a comprehensive suite of services that include consumer banking, business banking, home financing, commercial lending, trust services, and wealth management. As a subsidiary of Marquette National Corporation (MNAT), it boasts assets of $2 billion with a local lending portfolio totaling around $1 billion.
The bank operates numerous banking centers spread across various locations, ensuring accessibility for its customers. As an Equal Opportunity Lender and Member FDIC, Marquette Bank prides itself on its commitment to inclusivity and financial integrity. For those interested in learning more about the bank's offerings or joining its community, Marquette Bank welcomes inquiries at 1-888-254-9500.
Contact Information:
Jeff MacDonald
708-873-3560
For more information, reach out via email: jmacdonald@emarquettebank.com
Frequently Asked Questions
What is the significance of the CRA rating for Marquette Bank?
The CRA rating reflects the bank's commitment to meeting the credit needs of the communities it serves, especially in lower-income areas.
How many consecutive times has Marquette Bank received the Outstanding rating?
Marquette Bank has received the Outstanding CRA rating for twelve consecutive evaluations.
What types of services does Marquette Bank offer?
Marquette Bank provides a wide range of services including consumer banking, business banking, home financing, and wealth management.
Why is community outreach important to Marquette Bank?
Community outreach allows Marquette Bank to understand and effectively meet the specific needs of its local neighborhoods.
How does Marquette Bank support affordable housing initiatives?
Marquette Bank focuses on financial solutions that promote affordable housing, contributing positively to community welfare and development.
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