Generations Community Bank puts relationships first

On April 23, Generations Community Bank opened its doors in Indianapolis, becoming Indiana’s first Minority Depository Institution. For Al London, the bank’s CEO, this was just the beginning..Minority Depository Institutions differ from most banks in both ownership and mission. To qualify as an MDI, a bank must be at least 51 percent owned by individuals from designated minority groups, or have a majority-minority board of directors and primarily serve a minority community. MDIs account for about 3 percent of all U.S. banks, according to the Federal Reserve Bank of Dallas.Like most MDIs, Generations Community Bank is mission driven, and for London, this mission comes down to relationships. London says his career has always centered around relationships; taking the time to understand people, their goals and their values is a common throughline in the way he works. He emphasized the necessity of building and prioritizing these relationships in banking.“Across many communities, not just Indiana, there are individuals, families and business owners who are building, growing and contributing,” London said. “But [they] don’t always have a collaborative banking relationship focused on helping them build wealth or imagine what is possible when it comes to their financial health.”This is where GCB comes in.GCB started with Old National Bank CEO Jim Ryan, who wanted to do more for the underserved communities in Indiana. In addition to Ryan, the CEO Council at Old National, which is based in Evansville, Ind., dedicated time to discuss how it could expand access to capital and financial resources for communities in need of long-term growth.Indeed, GCB was created to fill the biggest gap they saw in the financial system: Access. Whether it was access to capital, access to guidance or access to a banking partner who truly cared about the communities they served, Indiana was lacking a space for people and businesses to achieve economic success with a bank aligned with their needs, London said.“Realizing there was not a Minority Depository Institution in the state, the opportunity became clear to build a mission-driven bank,” London said. “That led to a broader effort involving leaders like Raphael Sanchez who hired me to join this amazing journey to bring this vision to life.”London explained that building a bank from the ground up is not easy, but he and his colleagues never lost sight of their goal to build an institution that, in London’s words, is “grounded in relationships, designed to expand access, and committed to long-term impact in the communities we serve for generations to come.”London said a focus on relationships sets GCB apart from other community banks. “That may sound simple, but it makes a meaningful difference in how we show up and how decisions are made,” London said.He then brought things back to the bank’s mission: “To support economic growth and expand opportunity across the communities [they] serve.” These core values inspire the bank to stay connected to the community through clear communication and collaboration. “It’s about creating an environment where people feel comfortable asking questions, making decisions and growing with confidence,” London said.Although mission and margin can often get framed as conflicting priorities, London doesn’t see it that way. He acknowledges the importance of sustainability and building a bank for the long term.Yet he also emphasized that staying focused on a mission will strengthen GCB’s sustainability. London and the GCB leadership team make decisions that support both the success of their clients and the health of the bank.London defines success as not only delivering what they promise to their shareholders, but also to their community. He strives to both grow the bank’s assets and deliver on their mission.“In five to 10 years, we want to be known as a trusted partner in the communities we serve,” London said. “An institution that people and businesses turn to for banking and financial guidance and support.”For GCB, a big part of achieving this is doing what they set out to do—expand access and help to create more opportunity, “particularly in the communities that have historically been overlooked and underserved,” London said.With a North Illinois Street address in Indianapolis, GCB’s headquarters are located in an area with limited access to traditional banking. As the bank grows, London notes he and colleagues will continue to be thoughtful about where additional locations should be set up to continue to remove barriers to access.Although the bank hasn’t been officially open for long, London and the GCB team have already seen a high level of support from the community, at their Grand Opening in particular.“There were more than 400 people in attendance—from students and members of the faith community to business, civic and sports leaders,” London said. “It was a powerful reflection of how many people are invested in what we’re building.”London sees this as a confirmation that people are looking for something more in their financial institutions, and this is something that London hopes to provide.“Years from now, I hope people are still saying that Generations Community Bank stayed true to who we are,” London said. “That we listened, that we built real relationships and that we helped people and businesses grow in a meaningful way over time.”