WASHINGTON (8/21/12)--The Federal Deposit Insurance Corporation (FDIC) Monday launched an Alliance for Economic Inclusion (AEI) initiative in West Virginia, a move intended to improve the economic well being of low- and moderate-income individuals and families, including the unbanked and underserved.
The AEI is a national initiative to establish broad-based coalitions of financial institutions, community-based organizations and other partners. Efforts have been launched in several markets across the country, but the West Virginia Small and Micro Business AEI is the first AEI to focus specifically on building resources to further small and micro business formation and growth. The FDIC noted this focus was selected after consultations with the Appalachian Regional Commission and other local stakeholders.
The West Virginia program was launched in partnership with the Appalachian Regional Commission (ARC), other state and federal agencies, financial institutions, and community-based stakeholders.
Since 2007, the more than 1,300 have opened more than 400,000 accounts with financial institutions through the FDIC's AEI program.
Use the link to read more about the FDIC's initiative.