Our Mission
In January 1997, the Louisville Community Development Bank opened its doors with a very clear mission:
"To stimulate economic growth within the West End,
and Smoketown, Shelby Park and Phoenix Hill neighborhoods
of Louisville, Kentucky, by providing an array
of financial and development resources."
The Bank's specific strategy to achieve this mission is:
- Support small business development and expansion
- Make homeowners out of home renters
- Improve the quality and value of real estate
- Increase the number and quality of goods and services available to residents
- Link neighborhood residents to career-path employment
The Louisville Community Development Bank is a for-profit, FDIC-insured, commercial bank. Through its financial products and services, it provides improved access to capital for area residents and businesses.
LCDB is a self-sustaining institution that does not rely on public funding or grants to keep its doors open. To better accomplish its mission, the Bank is committed to ensuring that the majority of its operations are within specific inner city communities or low-income census tracts in Jefferson County.
The impact of this unique approach to economic development is far-reaching, both in geographic scope and years. The local economy receives an immediate boost from each loan through a resultant increase in localized spending. However, the largest impact comes from the permanent creation of new jobs -- jobs that are immediately filled by inner city residents. This increase in income exponentially increases spending in each neighborhood, which attracts additional services, thereby creating even more jobs. Further, a living wage increases the opportunities available to each household. Education opportunities increase, not only for the children, but for the wage earner as well. In short, residents are being provided with the tools they need to help themselves. The economic playing field is being leveled and social injustice is being replaced with more equal opportunities. It's not a handout, it's a helping hand.
Creating a better quality of life for inner city residents is the goal of the Louisville Community Development Bank and its depositors. Reaching this goal requires a long-term commitment to stimulating economic growth and facilitating the expansion of opportunities for all. This commitment is shared by the Bank's many partners, including other banks, local governments, organizations, businesses and individuals -- all working together to plant the seeds of growth and opportunity in Louisville's inner city.