Neighborhood Bancorp was incorporated on August 18, 1992, in response to a San Diego City and County Reinvestment Task Force study that documented a pattern among financial institutions of under-serving certain communities. Bancorp is the parent corporation of Neighborhood National Bank (NNB); Neighborhood Opportunities Corporation (NOC), a 501c3 non-profit Financial Literacy Program; and Neighborhood Capital Advisors (NCA). As the parent corporation, Bancorp oversees the operations of each entity and develops strategic outlines for each affiliate company. Bancorp’s organizational mission is to balance the goal of profitability and facilitate economic development by:
- Creating employment through job creation and assisting entrepreneurial efforts
- Improving and increasing affordable housing
- Assisting in the economic development of low and moderate-income communities.
Neighborhood National Bank
Neighborhood National Bank (NNB) is chartered to provide a full range of traditional bank services, as well as providing loans for economic development and affordable housing projects. NNB’s mission is to provide underserved communities financial products and services that help customers build wealth through personal loans to businesses, and savings and investment by all customers. Further, NNB seeks to provide its shareholders, and, indirectly, Bancorp's shareholders, with a fair return on their investment, balanced with the need to provide services to the community.
NNB provides banking services to customer groups that are currently underserved in its geographic market area including individuals, affordable housing advocates, non-profit corporations, faith-based organizations, and other community based organizations. The groups, or the individuals represented by the groups: (i) earn less than 80% of the median family income for San Diego County; (ii) are ethnically and racially diverse; (iii) do not have ready access to traditional financial institutions and systems.
Neighborhood Opportunities Corporation – a Non-profit Corporation
Neighborhood Opportunities Corporation (NOC) is a non-profit affiliate of Bancorp. After an initial grant from NNB and Bancorp, NOC has been self-sustained through private and public monies garnered to support its efforts. NOC’s Financial Literacy Program serves low to moderate-income communities in the San Diego area. This program helps to build financial stability and encourages entrepreneurship and sustainability. In addition, this program helps new immigrants understand U.S. financial institutions and encourages sound financial management. Program participants are residents of city communities that include adult students, new immigrants, welfare to work populations and at-risk youth.