First Women's Bank Announces New Mission Partners to Support Economic Growth and Women's Empowerment

Strategic Insights -

First Women's Bank, a commercial bank on a mission to grow the economy and elevate the role of women within it, has announced that Microsoft Corp. and United Airlines are its newest Mission Partners. This partnership aims to support the bank's innovative strategy of combining national Small Business Administration lending with deposits from mission-aligned individuals, corporations, and organizations to create accessible financing for small businesses, particularly women-owned businesses.

Key Takeaways:

  • Microsoft Corp. and United Airlines join a growing list of FWB Mission Partners, which also includes Aon, Wendy's, Comcast Corp., William Blair, and the Western Golf Association.
  • First Women's Bank's innovative strategy combines national Small Business Administration lending with mission-aligned deposits to create accessible financing for small businesses with a strategic focus on the women's economy.
  • The bank's Mission Partners, including Microsoft and United Airlines, will provide funding and resources to support the growth of women-led businesses through the FWB Collective.
  • Client spotlight: Aisha and Ruth Miller, owners/operators of Tropical Smoothie, and Lauret and Tosin Odesanya, owners/operators of Scooter's Coffee, share their positive experiences with First Women's Bank and its customer-centric approach.
  • Marianne Markowitz, president and CEO of First Women's Bank, emphasized the importance of closing the gender lending gap to achieve gender equality.
  • Anita Mehra, corporate vice president of global treasury & financial services at Microsoft, highlighted the company's commitment to creating environments where women and women of color have the resources and support they need to thrive.

Statistics:

  • First Women's Bank has issued loans to small businesses in just six months after its grand opening.
  • The bank has a national lending and deposit market, serving businesses across the country from its flagship location in Chicago.
  • Microsoft Corp. operates a network of more than 740,000 partners in nearly 190 countries.
  • United Airlines carried over 162 million customers in 2019, operating more than 1.7 million flights.
  • United Airlines has a comprehensive route network with hubs in Chicago, Denver, Houston, Los Angeles, New York/Newark, San Francisco, and Washington, D.C.

Sources:

  • First Women's Bank press release, March 31, 2022
  • Microsoft Corp. press release
  • United Airlines press release
  • First Women's Bank website
  • About United Airlines Press Release, 2019