The Women's National Bank — a Successful Business Venture

Abstract

This article provides information on the success of The Women's National Bank in Washington, D.C., as of January 1981. The Women's National Bank puts much emphasis on personalized banking service, and on being a part of the community as a community bank. The bank offers basic financial educational seminars which have been well received and attended by both men and women. The bank has a commitment to help meet the credit needs of the local community, including our low and moderate-income neighborhoods, while at the same time preserving the flexibility necessary for the bank to operate in a safe and sound manner. There are presently nine women's banks in the U.S. The bank was the first federally-chartered women's bank and the first women's bank to become a member of the U.S. Federal Reserve System. The future of the banking industry is changing drastically. The Depository Institutions Deregulation and Monetary Control Act of 1980 is having, and will have, far-reaching effects on banking and the entire financial community. Many persons predict that in ten years there will be only half the number of banks and savings and loan institutions as there are now. The decrease in the number of institutions will be caused by many mergers and/or buy-outs and possibly some closings. Women's banks are looking forward to the changing economic environment as a challenge and an opportunity.