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MPACT Program Intend Indiana HomeSmart

Merchants Bank of Indiana - Carmel , IN

2022 Community Committment Awards Submission

  • Community and Economic Development
  • Asset Size: Medium

Since its founding, Merchants Bank of Indiana (MBI) has remained committed to serving the needs of its local customers and community. Despite its growth into the best-performing public bank in the country, MBI has not forgotten its Indiana roots. Merchants has the same capabilities as the big banks, with the passion for its community and dedicated service of a small one.

In 2018, to further the company's commitment to community, MBI launched its annual MPACT Program to support the initiative of Merchants employees Positively Advancing Communities Together to make an 'MPACT' in the areas where they live, work and play. Over 500 MBI employees are awarded PTO hours annually to use towards community service, growing the community and enhancing the economy with a variety of actions. The program's mission is aimed at supporting the advancement of affordable housing, improving education with an emphasis on financial literacy, stimulating economic development in our community and supporting the interests of our customers. Since the program's founding, employees have reported more than 5,400 volunteer service hours, with nearly 2,400 of those qualifying for Community Reinvestment Act (CRA) efforts, a federal regulation designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods. In 2021, MBI employees reported 2,200 total volunteer hours, with 700 qualifying for CRA efforts.

MBI also focuses on affordable housing advancement with Intend Indiana and supports the needs of low-to-moderate income individuals with their unique mortgage products. Overall, MBI is committed to its community, providing ample opportunity for community and economic development.