International

Mercy deposit helps close the racial wealth gap

January 23, 2022
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For 100 years, Optus Bank, South Carolina’s first African American-owned bank, has focused on helping people who otherwise would not have access to capital gain the access to financial products and services that will help them achieve their goals. A Mercy Partnership Fund deposit is helping Optus provide capital to more people through consumer loans, mortgages, auto loans and small-dollar loans.

Optus, one of only 18 federally designated African American-owned minority depository institutions (MDI) in the country, helps clients integrate savings into their daily lives, build personal assets and receive financial education. Deposits from Mercy and other socially motivated investors provide capital that has enabled Optus to expand its banking services with the ultimate goal of helping to close the racial wealth gap in America. “The big thing that separates Optus Bank from the traditional approach is that we’re trying to bank everyone, regardless of background or privilege,” says President/CEO Dominik Mjartan. “Just like Dr. King said, the concept of making sure civil rights are aligned with ‘silver rights’ efforts is critical to our goal of what America stands for. We’re trying to play a part in the financial ecosystem where we channel services to businesses and homes that may not fit the traditional banking system.”

Mercy Partnership Fund invests in more than 60 mission-focused organizations. Learn more about our investees online.