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| About Broadway |
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View our "Sunrise on Central Avenue" mural by
artist Richard Wyatt at Exposition Park Branch
"Experience the Difference" |
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Mission Statement
The Bank’s mission is to serve the real estate, business and financial needs of
customers in underserved urban communities
with a commitment to excellent service, profitability and sustained growth. It also has a broader commitment to employ, train
and mentor community residents, to contract for services with community businesses,
and to encourage its management and staff to serve as volunteers in civic, community
and religious organizations.
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Values
Equality of Service
Everyone, regardless of race or income level, will receive the same excellent service from Bank employees at any of the
Bank’s branches or when dealing with any of the Bank’s departments.
Excellence in Service
Every bank employee will strive for excellence in service to customers, fellow employees, and the community. Excellence in service shall mean courteous assistance, prompt, effective and efficient handling of transactions and requests, and thorough product knowledge.
Community Service
The Bank and its employees will be outstanding corporate citizens, by giving back to the communities we serve, with our time, expertise and financial resources.
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CRA Rating
The Office of Thrift Supervision requires that Broadway Federal Bank's Community Reinvestment Act rating and evaluation be made available to the public. The rating and excerpts from the most recent evaluation are provided.
"Outstanding"
Broadway Federal continued a superior performance of meeting the credit needs of its entire community, including low and moderate income neighborhoods, during the thirteen month review period.
Broadway Federal's geographic distribution reflected an excellent dispersion throughout the assessment area. Its percentage
of loans in low and moderate income census tracts were 84.1 percent. This percentage significantly outperformed both the
1998 HMDA Aggregate, at 14.9 percent, and the demographics of the area. While the 1999 HMDA comparable date is not available, Broadway Federal's performance was significantly above the 1998 levels and continued to be substantial.
Broadway Federal's distribution of one-to-four unit residential loans to low and moderate- income borrowers also reflected an excellent dispersion. Its percentages of loans to low and moderate-income borrowers in 1998 and 1999 were 38.4 percent
31.7 percent, respectively. These percentages significantly outperformed the 1998 HMDA Aggregate, at 12.8 percent, and
closely approximated the demographics of the area. In addition, Broadway Federal was able to provide information that indicated that 24.52 percent of its multi-family loans were secured by buildings with low and moderate-income tenants, which is a strong showing for this type of lending. These loans also counted toward the institution's community development lending, with $6.7 million meeting the definition (i.e., loans to borrowers for affordable housing rehabilitation, construction, and permanent financing
of multi-family loans serving low and moderate-income persons.) |
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Government/Agency Clients
State of California
West Basin Municipal Water District
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Community Clients
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Community Build, Inc.
Harriet Buhai Center
Inglewood Neighborhood Housing
NAACP |
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Education and Welfare Fund
South Central Los Angeles Regional Center
Ward Villas/Ward Housing
Limited Partnership |
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