In June 2007, the Board of Governors of the Federal Reserve System implemented the Partnership for Progress (PFP) program to preserve and promote Minority Depository Institutions (MDI) and enhance their ability to thrive in an ever increasing competitive banking environment. Successful MDIs assist the communities they serve and help create a more stable banking environment. MDIs are essential to economic development in low to moderate and underserved minority communities. PFP provides assistance to MDIs through problem solving, outreach, regulatory awareness, guidance, and knowledge.

The PFP program supports MDIs by:

• Providing technical assistance through web-based training modules, seminars, conferences, and outreach events
• Providing reliable guidance and insight for MDIs
• Preserving the current number of MDIs and encouraging the creation of new ones, including women-owned institutions
• Helping MDIs with banking and regulatory issues through resources and programs, such as bank directors training, Ask the Fed©, and various publications
• Managing a network of district coordinators to provide personalized assistance to MDI management

Our district coordinators hold a variety of positions and work in a diverse group of departments within all of the twelve districts of the Federal Reserve System. Our district coordinators are composed of examiners, analysts, and officers who work in Consumer Compliance, Community Development, and Safety and Soundness.