The Mission Driven Bank Fund announced an investment in First Mutual Holding Co., the bank holding company for Warsaw Federal Savings & Loan, marking the Fund’s 11th deployment to support mission-driven banking institutions. Warsaw Federal, an independent mutual bank and Minority Depository Institution based in Cincinnati, will use the investment proceeds to provide focused financial services, tools, and education aimed at promoting economic opportunity and financial equity in its communities.
This investment represents significant support for one of only two Minority Depository Institutions headquartered in Ohio and the sole MDI currently serving the Cincinnati area. Robie Suggs, president and CEO of Warsaw Federal, stated that the partnership will enable the bank to empower underserved communities in Greater Cincinnati with essential financial tools and support needed to build stronger neighborhoods.
The Mission Driven Bank Fund, which seeks to foster a more inclusive banking system, will provide both capital investment and technical services support to Warsaw Federal as part of this deployment. Paul Welch, portfolio manager of the Fund, emphasized Warsaw Federal’s commitment to promoting economic vitality across the Greater Cincinnati area and the importance of supporting mission-aligned banks that serve often underserved communities.
This strategic partnership aligns with the Fund’s broader mission to drive growth and financial resiliency in the mission-driven bank sector, contributing to efforts that help close the racial wealth gap. The Fund continues to build active pipelines to invest in MDI and Community Development Financial Institution banks nationwide, supporting institutions that target low to moderate income African American, Native American, Asian, Hispanic, and Pacific Islander communities.
For additional information about the Mission Driven Bank Fund’s initiatives, visit https://missiondrivenbankfund.org. Details about Warsaw Federal’s community banking services can be found at https://warsawfederal.bank, while information about First Mutual Holding Co.’s structure and affiliate banks is available at https://firstmutualholding.com.
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