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Management article
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Reference no. 91306
Published by: Harvard Business Publishing
Published in: "Harvard Business Review", 1991

Abstract

In a once-impoverished inner city section of Chicago, South Shore Bank has combined what its owners call old-fashioned commercial banking with a progressive social agenda to transform the neighborhood, without forcing out its old residents. It designated itself a community development bank, extending credit to residents to support small business, restore community self-confidence, and reinvigorate market forces.

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Abstract

In a once-impoverished inner city section of Chicago, South Shore Bank has combined what its owners call old-fashioned commercial banking with a progressive social agenda to transform the neighborhood, without forcing out its old residents. It designated itself a community development bank, extending credit to residents to support small business, restore community self-confidence, and reinvigorate market forces.

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