Frequently Asked Questions
Q: When did LCDB open for business?
A: LCDB first opened its doors for business in January 1997. In 2007 the bank will celebrate 10 years of service to the community.
Q: Is LCDB a full-service bank?
A: LCDB's product line consists of loans and certificates of deposit. FDIC-insured CDs earn a safe and steady return while being converted into developmental loans that create jobs, restore homes and build businesses in poverty-stricken communities in Louisville, Kentucky.
Q: How are LCDB loans funded?
A: Primarily with deposited funds.
Q: Does LCDB offer grants or endowments?
A: No grant or endowment funds are offered by LCDB.
Q: What are LCDB's affiliate companies?
Q: Are LCDB's deposits insured?
A: Yes each deposit is FDIC insured up to $100,000.
Q: How do I make a deposit?
A: Visit our deposit products page for information about our CDs and forms required for your deposit.
Q: May I wire transfer my CD deposit to LCDB?
A: Yes, funds may be transferred to and from your LCDB account by wire transfer or ACH. Please contact a customer service representative at 502-778-7000 (1-866-273-8562) for details.
Q: Does LCDB offer checking, IRAs or safe deposit boxes?
Q: Is interest paid on all LCDB certiificates of deposit?
A: The Market Rate, Savings and Easy Access CDs all earn a competitive interest rate. The Community CD, however, gives you the option of earning a competitive rate, or forfeiting the interest. All deposits and forfeited interest are used in the form of loans to improve the quality of life for inner-city residents.
Q: Does LCDB offer online banking?
A: LCDB does not offer online banking at this time.