Providence Bank & Trust

FDIC-Insured ∙ Donates 10% of Profits to Local Organizations, Annually

As seen in

Providence Gallery
Providence featured in Chicago Sun Times

“The bank was founded on a corporate principle of donating 10 percent of its profits to civic, nonprofit and Christian organizations in the areas it serves”

Providence featured in Crains

“The bank describes itself as a “stewardship” bank”

Providence featured in RE Journals

“This effort increases diversity and inclusion by breaking down barriers to capital for small businesses”

Providence featured in Block Club

“Supported a walk to end police brutality and racial inequity”

Providence featured in WGN

“A sponsor of the historic football game between Historically Black Colleges and Universities Howard and Hampton at Soldier Field, along with its career fair and teen financial summit”

Features

Convenience

  • FDIC-insured
  • Online account opening
  • Online and mobile banking
  • Mobile deposits
  • Bill pay
  • Surcharge-free ATMs
  • 24/7 customer service for lost or stolen card

Products

  • Checking and savings accounts
  • Certificates of Deposit (CDs)
  • Credit Cards
  • Money Market accounts
  • Retirement accounts
  • Mortgage loans
  • Small business loans
  • Other financing

Providence’s impact

Founded by a group of Christian business leaders, Providence follows principles of service and integrity. We take pride in serving the communities where we’re based and going beyond what other banks can do.

As an organization, we vow to always stand strong together, working to rid our communities and businesses of racial injustice of any form. We believe in and support equal protection, equal justice, and equal opportunity for all to reach their fullest potential.

Providence is a mission-driven bank primarily focused on financing housing and business, and with expertise in serving majority Black and Brown communities

What do these mean? Read more

  • Above avg. in small business lending: Bank puts a larger percentage of money into small business loans than the bank industry average.

  • Above avg. in housing lending: Bank puts a larger percentage of money into housing loans than the bank industry average.

  • Above avg. in investing in public works: Bank puts a larger percentage of money into loans and securities for municipal use (i.e. financing for schools, roads, parks) than the bank industry average.

  • Above avg. in financing communities, overall: Bank puts a larger percentage of money into community financing (loans for business, farms, housing, construction, and households, and public works financing) than the bank industry average.

These metrics are validated with public data. To learn how, see our FAQ.

100% of money with the bank is based in Chicagoland & Northwest Indiana

Deposits come from Illinois & Indiana

 

This is an estimation of where the bank concentrates its community financing. It is approximated by where the bank has branches, and the relative amount of deposits the bank manages from each branch. Bank regulation encourages banks to meet the credit needs of communities in which they do business. Providence Bank & Trust accepts deposits from Illinois and Indiana in order to support communities in the area.

Providence has a history of investing 64% - 88% of total dollars in the bank into communities, which is greater than the bank industry average

Percentage of total dollars in the bank lent to communities and invested in public works, over time
 
 
How exactly is money invested? Read more
When you bank with Providence, more of your money is used to make loans for business and housing than average. Here's the share of total dollars in the bank invested in each sector:

  • Large Business: 28% (+113% vs industry avg)
  • Housing: 16% (+22% vs industry avg)
  • Small Business: 9% (+228% vs industry avg)
  • Public Works: 7% (+183% vs industry avg)
  • Construction: 4% (+159% vs industry avg)

    • The bank also finances other sectors, including:

  • Small Farms: <1%
  • Large Farms: <1%
  • Households: <1%

    • The other 36% of total dollars in the bank is used for something other than community financing (like investments in bank branches and other financing).

    Read more about this data in our FAQ.

    Fast facts about Providence Bank & Trust*

    • Bank donates 10% of total bank profits to local organizations each year

    *As reported directly by Providence Bank & Trust to Mighty.

    People banking here

    Client stories

    Providence Gallery
    Providence supports By The Hand Club For Kids

    “Thanks to a line of credit from Providence, we were able to start construction on 26,000 square foot building and move back in before the most violent time of the year.” -By The Hand Club For Kids

    By The Hand began in 2001 with 16 children from Cabrini-Green, and today serve more than 1,600 kids from public housing across the city.

    Providence supports Restoration Ministries

    “Thanks to Providence taking a chance with us, we were able to put together building a beautiful building for our organization.” -Restoration Ministries

    Restoration Ministries was founded in 1988 with the sole purpose of helping men with histories of drug addiction rebuild their lives. Today, it operates 26 programs and serves all segments of the population in Harvey and the surrounding suburbs with a special emphasis on at-risk, disadvantaged children and teens.

    Do you have experience working with accounts or loans at this bank? Share your testimonial
     

    See what your money can do here*

    *This is an estimate, modeled according to the most recent data on Mighty. Learn more how this is calculated in our FAQ.

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    Get started with Providence

    Currently accepting applications from Chicagoland and Northwest Indiana

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