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Burling Bank - Mighty Impact Report

December 2017

THE LATEST / Burling Bank partners with women-led Mighty · MY IMPACT / $83 of my every $100 in Burling Bank finances neighborhoods · MY COMMUNITY / My deposits finance West Town eats, Logan Square games, and Fulton Market fintech · CONNECT WITH BURLING BANK

 

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THE LATEST · MY IMPACT · MY COMMUNITY · CONNECT WITH BURLING

Burling Bank partners with women-led startup, Mighty, to power this impact report.

The mission of Mighty, based at the University of Chicago Polsky Center for Entrepreneurship and Innovation, and featured in Fast Company and American Banker, is to help individuals and businesses - like you - know the unique neighborhood footprint your money on deposit in the bank is making.

Your money isn't just sitting in a bank. It's in motion, financing different markets, including neighborhoods, or the real economy. Mighty analyzes publicly reported bank data about how banks put their clients' money to work for neighborhoods. Mighty then works with banks to deliver bite-sized content to facilitate increased transparency and connections for you about your money in the bank and the communities you're impacting.

Burling Bank is proud to be the first bank in Chicago to partner with Mighty to facilitate this experience for customers.

     
     
     
    Have you ever thought about the neighborhood impact that your money in the bank is making? *
     
     

     
     
     
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    MY IMPACT · MY COMMUNITY · CONNECT WITH BURLING · THE LATEST

    Different banks put your money to work in different ways. Burling Bank puts $83 of your every $100 in its bank to work for neighborhoods.  That's $34 more than the average big bank with a branch in Chicago metro area.

    Mighty analyzes banks' publicly reported loan and investment data, and branch location data, to make clear banks' neighborhood financing and geographic foci.

    Neighborhood financing includes loans and other funding for the development of business, housing, construction, public works, farm, and consumer activities. 

    83% of the money in Burling Bank finances neighborhoods. 

    Translated, this means that $83 of every $100 you keep on deposit in Burling Bank finances neighborhoods (or $8,300 of every $10,000, or $83,000 of every $100,000, and so forth). 

    Dollar for dollar, this is more neighborhood financing than that of the average bank in the Chicago metro area, and even more than the biggest banks. You can see how different banks compare in their neighborhood financing focus, below.

    Burling Bank puts more of your money to work for neighborhoods

    Values shown as a percent of total dollars. 'Average Chicago big bank' includes banks with over $50 billion in total assets (among the 40 in the US) that have a presence in the Chicago metro area. 'Average Chicago bank - all others' includes all banks with a branch in the Chicago metro area, not including 'big banks' nor Burling Bank. Averages weighted by bank size.

    When you choose to deposit your money in Burling Bank, you are putting more of your money to work for Chicago neighborhoods than the average banking customer in the Chicago area.

     
    83% of your money on deposit in Burling Bank finances neighborhoods.
    You are putting more of your money to work for Chicago neighborhoods than the average banking customer in the Chicago area.
    This is easy to understand
    This is easy to understand
     
     

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    MY COMMUNITY ·  CONNECT WITH BURLING · THE LATEST · MY IMPACT

    Your money on deposit in Burling Bank supports neighborhood financing for small businesses like Wabash Seafood in the West Loop, Logan Arcade in Logan Square, and Akouba in Fulton Market.

    Wabash Seafood in West Town found a kindred spirit in Burling Bank for scaling small business. 

    "We started Wabash Seafood in 1989 to fill a gap in the city's wholesale seafood market, which was dominated by large corporate distributors at the time. Today we distribute quality seafood to the top chefs in the city. Burling understands small business ethos, the importance of small business relationships, and the importance of setting standards of excellence when making your name in small business." -Owners John and Diana Rebello 

     

    Logan Square based Logan Arcade chose to partner with Burling Bank in opening the best-maintained and largest public collection of vintage pinball and video games in Chicago.

    "At Logan Arcade you can find beer, pinball and video games, and local appreciation. We're proud to bank local." =Logan Arcade owner Jim Zespy

    Akouba builds fintech out of its Fulton Market office to help small businesses better access bank loans from aligned banks, including Burling Bank.

    "In Burling we found a partner that is not only focused on small business relationships, as we are, but also understands the future of fintech and is making investments in technologies that serve small business marketplaces." -Akouba Founder + CEO Chris Rentner
     
     
    Did you know Burling Bank financed these neighborhood organizations?
     
     
     

     
     

    CONNECT WITH BURLING BANK

    Send Burling Bank an email

    Request a call from Burling Bank team 

    Call Burling Bank: 312-408-8400

    Walk in: Burling Bank is located in the lobby of the Chicago Board of Trade building: 141 W. Jackson Blvd. Chicago, IL 60604. Hours: M-F 8a-4p

     
    What neighborhood impact would you like to learn more about?
    Would you like to receive next month's report?