NEW YORK, Sept. 16, 2021 /PRNewswire/ -- BNY Mellon
announced today that it is expanding its relationship with
South Carolina-based Optus Bank as
part of the Treasury Department's Financial Agent Mentor-Protégé
program. BNY Mellon has recently provided Optus Bank with a
$3 million deposit to supplement the
institution's investments in Low and Moderate Income (LMI) and
minority communities.
"We are thrilled to announce this new milestone in our
relationship with Optus Bank in its important mission of investing
in under-served communities," said Jansen Sauvageau, Director of
Government Treasury Services at BNY Mellon. "This investment will
further Optus' investment capacity while leveraging BNY Mellon's
robust products, services, and infrastructure. We are proud to be
supporting an inclusive environment that provides opportunities for
communities in need."
"Unleashing the full potential of every person in America will
require long term investments and unique partnerships aimed at
closing the economic opportunity gaps. On behalf of our
communities, we are grateful that BNY Mellon has committed and
demonstrated their genuine efforts to support access to capital and
opportunities for LMI communities by supporting Optus Bank," said
Dominik Mjartan, President and CEO
of Optus Bank.
BNY Mellon's new investment is part of the bank's broader
initiatives to support underrepresented communities through
philanthropic engagement, workforce development activities, and
support of MDI Banks. Last year, the bank announced a $20 million multi-year commitment in support of
vital educational and workforce development programming in
underserved populations of New York
City and Pittsburgh.
About U.S. Treasury Bank Mentor-Protégé Program
(TBMPP)
Established in 2018, the U.S. Treasury Bank Mentor
Protégé Program (TBMPP) works to facilitate voluntary relationships
between the largest U.S. commercial banks as mentors and small
and/or minority depository institutions (MDIs) as protégés. The aim
of the program is to increase the capacity of small and
minority-owned banks to better serve their customers and
potentially Treasury, create new partnerships with Treasury and
across the banking industry, and strengthen their ability to
withstand the rigors of the rapidly changing banking industry and
economic environment.
About Optus Bank
Optus Bank's origins date back
to 1921 when a group of visionary and courageous African American
leaders founded a bank on the principle that all people should have
access to the American Dream, regardless of their inherited
circumstances. Optus Bank is a federally designated Minority
Depository Institution, a U.S. Treasury Certified Community
Development Financial Institution, and an FDIC insured depository.
Visit www.optus.bank to learn more.
About BNY Mellon
BNY Mellon is a global
investments company dedicated to helping its clients manage and
service their financial assets throughout the investment lifecycle.
Whether providing financial services for institutions, corporations
or individual investors, BNY Mellon delivers informed investment
and wealth management and investment services in 35 countries. As
of June 30, 2021, BNY Mellon had
$45.0 trillion in assets under
custody and/or administration, and $2.3
trillion in assets under management. BNY Mellon can act as a
single point of contact for clients looking to create, trade, hold,
manage, service, distribute or restructure investments. BNY Mellon
is the corporate brand of The Bank of New York Mellon Corporation
(NYSE: BK). Additional information is available on
www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our
newsroom at www.bnymellon.com/newsroom for the latest company
news.
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SOURCE The Bank of New York Mellon Corporation