Chicago's South Shore Bank has been heralded as a model for urban development by political and business leaders throughout America inspiring similar programmes from Arkansas to Michigan. Despite dire predictions that a depressed neighbourhood could not support a financial institution, the South Shore Bank fought to make a difference in its community, not only succeeding but earning sunstantial profits. This work tells the story of the people who built the bank and of the neighbourhood it serves, detailing the struggles and successes of this urban revitalization effort.
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Ray of hope in the current climate of "big bad banks",
This review is from: Community Capitalism: The South Shore Bank's Strategy for Neighborhood Revitalization (Paperback)
This is a great "blow by blow" detail of the rise of America's oldest and largest "community development bank," which took an early and activist stand against the practice of racial "red-lining" and for the Community Reinvestment Act. The Bank also served as the model for the Community Development Financial Institution Act of the Clinton Administration, which sought to replicate the premise of community-based financial institutions as a tool for reinvesting in struggling and/or marginalized communities. The honest account of the successes as well as the failures of the SouthShore Bank (now just ShoreBank), is a must read for any serious student of community development, or concerned citizen seeking a more grounded understanding of the true nature of the current financial crisis and one possible path to recovery.
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Inside This Book
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First Sentence:
The board of the Illinois Neighborhood Development Corporation (INDC) had assembled for its quarterly meeting in a downtown Chicago hotel. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
property appreciation, development deposits, new depositors, racial change, urban economic development, real estate lending, bank management, shopping strips, downtown bank Key Phrases - Capitalized Phrases (CAPs): (learn more)
South Shore, City Lands, Seventy-first Street, University of Chicago, Hyde Park, Illinois Neighborhood Development Corporation, The Neighborhood Institute, Mary Houghton, East Side, Milton Davis, National Tea, United States, Parkside Partnership, Small Business Administration, Back of the Yards, Phoenix Partnership, Portage Park, The Neighborhood Fund, Michael Bennett, South Side, Eastern European, Jim Fletcher, Stony Island Avenue New!
Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
The board of the Illinois Neighborhood Development Corporation (INDC) had assembled for its quarterly meeting in a downtown Chicago hotel. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
property appreciation, development deposits, new depositors, racial change, urban economic development, real estate lending, bank management, shopping strips, downtown bank Key Phrases - Capitalized Phrases (CAPs): (learn more)
South Shore, City Lands, Seventy-first Street, University of Chicago, Hyde Park, Illinois Neighborhood Development Corporation, The Neighborhood Institute, Mary Houghton, East Side, Milton Davis, National Tea, United States, Parkside Partnership, Small Business Administration, Back of the Yards, Phoenix Partnership, Portage Park, The Neighborhood Fund, Michael Bennett, South Side, Eastern European, Jim Fletcher, Stony Island Avenue New!
Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 2
books:
24
books
cite this book:
See all 24 books citing this book
- Black Neighbourhoods: An Assessment of Community Power by Donald I. Warren in Back Matter
- A Place on the Corner, Second Edition (Fieldwork Encounters and Discoveries) by Elijah Anderson in Back Matter
- Reclaiming Capital: Democratic Initiatives and Community Development by Christopher Gunn on page 70, page 71, and Back Matter
- Replicating Microfinance in the United States by James H. Carr on page 297, and Back Matter
- Replicating Microfinance in the United States by James H. Carr on page 297, and Back Matter
- Corporate Integrity: Rethinking Organizational Ethics and Leadership by Marvin T. Brown on page 156, and Back Matter
- Doing Business in Minority Markets: Black and Korean Entrepreneurs in Chicago's Ethnic Beauty Aids Industry (Garland Studies in Entrepreneurship) by Robert Mark Silverman on page 215, and Back Matter
See all 24 books citing this book
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