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Neighborhood National Bank urges San Diego Community Power to consider deposits with local CDFI
Summary
Scott Andrews, president and CEO of Neighborhood National Bank, spoke during non‑agenda public comment to express interest in receiving San Diego Community Power deposits and highlighted the bank’s role as the county’s sole CDFI.
During the non‑agenda public comment period on June 12, Scott Andrews, president and CEO of Neighborhood National Bank, asked San Diego Community Power to continue discussions about placing agency deposits with his institution.
Andrews said Neighborhood National Bank is the only community development financial institution (CDFI) in the county and that deposits would be redeployed into low‑ and moderate‑income communities through loans, grants and charitable contributions. He thanked CEO Karen Burns and CFO Eric Washington for prior meetings and said the bank currently originates about 78% of its loans in low‑ and moderate‑income areas.
The chair acknowledged the comment and the committee proceeded with the agenda; no committee action was taken on the request during the meeting.
