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ShoreBank: A Banker to the Poor Goes Bust

ShoreBank: A Banker to the Poor Goes Bust

ShoreBank is a Chicago-based financial institution that was founded on the principle that everyone deserves access to financial services and that, by offering these services to the urban poor, the community will benefit.  Sound familiar?  Its mission is very much aligned with that of microfinance.  And, since 1973, Shorebank was largely successful in achieving that mission.  Initially serving the South Side of Chicago, the bank eventually spread to Detroit, Cleveland, and much of the Pacific Northwest.   The organization’s ties to…

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