Company Information

Get to know First Independence Bank

Founded in 1970 in Detroit, Michigan, First Independence Bank is one of the largest African-American-controlled commercial banks in the United States. As a designated Minority Depository Institution (MDI) and a Community Development Financial Institution (CDFI), its mission is to deliver financial services with an affinity for the African-American and wider minority communities, aiming to create wealth for all its customers. The bank offers a comprehensive range of personal and business banking products, including checking and savings accounts, loans, mortgages, and digital banking solutions.

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Financial BankingPRIMARY
Financial Other Service

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First Independence Bank

United States

Founded in

11 May 1970 (56 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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BridgerPay

(180 reviews)

Cyprus

2017

(9 years)

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.