Connect Bank

Connect Bank is a for-profit, Subchapter S Corporation registered in SAM.gov, with an active registration through March 1, 2025. As an FDIC-insured depository institution, the bank specializes in community development financial services, focusing on providing targeted financial support to economically distressed and underserved communities across the United States. The bank leverages federal grant programs to expand its lending capabilities, investment strategies, and financial service offerings to low- and moderate-income populations.

Through its federal grant awards from the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund, Connect Bank has received significant funding to enhance its community development initiatives. The bank was awarded a $3.72 million Equitable Recovery Program (ERP) grant in April 2023 to expand lending, grant making, and investments in low-to-moderate income communities impacted by COVID-19, with a completion date of December 2028. Additionally, the bank received a $237,161 Bank Enterprise Award (BEA) Program grant in September 2024, which supports increased investments in certified CDFIs and expanded community development financing activities. These grants enable Connect Bank to provide tailored financial products, technical assistance, affordable housing financing, small business support, and targeted financial services to underserved populations, with a specific focus on increasing access to capital and economic development opportunities in economically challenged areas.