# Presentation: 738730

## FDIC Advisory Committee on Economic InclusionBank Successes in Reaching the UnderservedMonroe Bank & Trust

**February 5, 2009**

## Monroe Bank & Trust(MBT)

**$1.5B Community Bank**
**Founded 1858 – celebrated 150****th**** last year**
**Traded on Nasdaq (MBTF) since May, 2003**
**25 branch locations**
**Recently acquired deposits of Main Street Bank**
**MBTeam Banking**

## Market Overview

**Headquartered in Monroe in Southeast ****	****Michigan between Detroit and Toledo**
**Branches located in suburban and ****	****agricultural areas in Monroe County ****	****and southern Wayne County**
**Over 10.6% unemployment statewide**
**9.6% in Monroe***
**National Unemployment 7.2%***
**Over 20% high school dropout rate****
***US Bureau of Labor Statistics December 2008**
****Monroe Public Schools**

## Market Share: 

**53% market share in Monroe ****	****County **
**.9% in Wayne County**
**CRA Assessment Areas:**
**Monroe: 1 low and 1 moderate; 2 minority**
**Wayne: 2 low and 2 moderate since acquisition of ****	****Plymouth and Northville areas; 21 minority**
**(previously 1 low, 1 moderate, 6 minority)**
**Recognized a need to assist people in ****	****reestablishing  good financial ****	****management practices or improving ****	****history**
**Needed to maintain consistency among ****	****branch personnel at account opening ****	****for persons with financial challenges**

## Slide 5

## Product Design

**-Personal Accounts only**
**-$50 minimum deposit to open**
**-$10 monthly service fee**
**-No minimum balance required**
**-Free online access**
**-Unlimited check writing**
**-Free eStatement**
**-ATM/Debit card with no deposit ability and daily withdrawal limit of $300**
**-Proof of paid balances at other FI’s**
**-”Graduate” to traditional products in 12 months**

## Results to Date

**- 49 Accounts opened**
**15 Closed – 69.4% retention**
**11 of the 15 closed with negative balances (73% of closed or 22.4% of total)**
**-$9,534 in current balances**
**-$194.57 average balance on open accounts**
**$606 in unpaid overdrafts (6.4% of current balances)**

## Young Adult Checking

**-Launches in April 2009**
**-Designed for 18 – 24 year old group**
**-$50 to open, no minimum balance**
**-$20 of free ATM use each month**
**-ATM/Debit card with deposit capability/standard ****	****daily withdrawal limit**
**-Will require training at account opening **
**-100 debit rewards points at account opening**
**-Defaults to High Interest checking product on 25****th**** ****	****birthday**

## Critical Element:MBT Outreach & Education Efforts

***Elementary Partnership in Education ******	******	******Program***
**-*****MBT Scholarship Program***
**-*****Bank At Work Programs***
***-MBT ID***
***-CARE Process***

## -ENLIST Volunteer Program

***-******ENLIST Volunteer Program***
***	******-*****25****th**** Anniversary Year**
**	****-137,000 Volunteer Hours to date**
**	****-Average 5,480 hours per year; currently 9,000**
**	****-325 members (85% of employee base)**
**	****-$45,112 in additional funds raised**
**	****-Over 100 organizations served each year**
**	****-National and regional recognition**

## -MBTeach 

**-*****MBTeach***** **
**	****-Extension of “ENLIST”volunteer program**
**	****-41 of 380 (11%) Employees Certified as ****	****	****	****MBTeachers**
**	****-14 organizations requesting classes after 1 ad**
**	**
**	****-****FDIC Money Smart Curriculum**
**	**
**	****-High Demand for:**
**	****	****-Your Own Home**
**	****	****-To Your Credit**
**	****	****-Money Matters**
**	**

## -The Learning Bank

**-*****The Learning Bank***
***	***
**	****-Low income, underserved population**
**	****-31% African American and 5.2% Hispanic**
**	****-Collaboration with **
**	****	****Monroe County Community College ****	****	****	****	****Monroe County Opportunity Program**
**	****	****Monroe County Intermediate School District**
**	****	****Southeast Michigan Community Alliance ****	****	****	****State of Michigan Department of Education**
**	****-GED Prep and Testing**
**	****-COMPASS Testing**
**	****-Financial Literacy Courses via MBTeach**

## Opinion Piece 

- Opinion Piece
- Monroe Evening News
- January 29,2009

## Conclusion

**Multiple approaches to areas served**
**Concentration on literacy supported by products**