Tolleson Private Bank Fosters Financial Growth in the Community
Senior Vice President and Regulatory Compliance Officer Alta Mantsch helps a student with a finance exercise.
While Tolleson Private Bank is passionate about serving client families, the bank is also committed to serve within the greater Dallas community. Through providing credit and lending in these areas, Tolleson Private Bank hopes to foster more financial opportunities for people throughout Dallas.
The bank is working closely with several organizations within the community to increase access to credit. For example, the bank is working to provide strategic funding to support a nonprofit Community Development Financial Institution (CDFI). The CDFI will utilize the funds to support a payday loan alternative program in which they partner with local employers to offer small loans to employees. These loans not only have less fees and are more affordable than payday lenders, but also are positive credit-builders for the borrower.
Tolleson Private Bank is also collaborating with a nonprofit Community Housing Development Organization which specializes in building homes for families that are at or below 80% of the Dallas area’s median income. With the bank’s financial support, the organization is looking to build 10 homes in West Dallas in 2021, 10 in 2022, and even more as they continue to grow in coming years in response to the tremendous need for affordable housing in Dallas.
The bank has extended funding for neighborhood revitalization and affordable housing preservation to a local nonprofit school and community center in the Fair Park area of Dallas. This organization not only provides a competitive private education with a focus on low-to-moderate income students throughout North Texas, but it also runs a food pantry in a community considered to be a food desert. This organization is instrumental in the preservation of affordable housing in its community as well as making the community a safe, attractive part of Dallas to live, play, and work.
“Being able to work with these organizations to provide greater access to credit or preserve and create affordable, safe places for people to live is invaluable. Banking may be my profession, but for me personally, to find meaning in connecting and providing for our neighbors so that we may all better care for our families is what makes me so proud to collaborate like this,” says Alta Mantsch, Senior Vice President and Regulatory Compliance Officer at Tolleson Private Bank.
Employees also spend time actively working with the community. With a team well-versed in financial services, the bank and its employees donate many hours to the community, small business entrepreneurs, and individuals by offering financial guidance, including preparing families to use credit wisely. Tolleson Private Bank continues to look for ways to enrich and strengthen the Dallas community.