Agency Picks Black-Owned Banks to Support Local Community
Calling for more “investment in our own community,” the executive director of the South-Central Los Angeles Regional Center for Developmental Disabilities announced Tuesday that the nonprofit agency would deposit $3 million in local black-owned banks.
“We see this as a starting point for expanding [the center’s] commitment to the community we serve,” said Dexter Henderson. “We plan to build on this commitment and hope that our action will be a catalyst for additional local investment.”
Officials at the banks--Founder’s National Bank and Broadway Federal Savings & Loan--praised the move.
“This type of very proactive participation is integral to economic growth,” said Carlton Jenkins of Founder’s National Bank.
The regional center, which coordinates finances for 6,500 clients, was established in 1973 as a result of state legislation mandating financial services for people with developmental disabilities.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
