Founded in 1995, the Rio Grande Valley MultiBank (RGVMB) is a Community Development Financial Institution (CDFI) certified by the United States Department of Treasury.
Our mission is to provide financial products and development services to the RGV, particularly in the area of affordable housing and consumer lending.
We are proud to provide the affordable, risk-free alternative to payday and car title loans through our subsidiary The Community Loan Center of the Rio Grande Valley.
The RGVMB is a for-profit, stockholder-held organization owned by ten (10) banks and organizations: Wells Fargo, Bank of America, BBVA Compass, Frost Bank, International Bank of Commerce– Brownsville, IBC– McAllen, IBC– Zapata, National Cooperative Bank, Lone Star National Bank and the Community Development Corporation of Brownsville. All earnings are reinvested into the program for expansion and lending capital.
Demand and Growth, the two strongest reasons for the work of the Rio Grande Valley MultiBank (RGVMB).
The RGVMB's target market is the Lower Rio Grande Valley, Texas (RGV). The RGV is one of the poorest and fastest-growing regions in the United States. The RGVMB's target population is the growing, low-to-moderate income Latino population.
The RGVMB believes that every hard-working family trying to make an honest living in our area should be given the opportunity to prosper, build assets and become financially secure.
We help families reach these goals by providing financial products and services that address their needs for homeownership, safe and secure rental properties, and lower-cost personal loans through employers.
RGVMB will not be able to touch the lives of everyone in the Rio Grande Valley, but we will have a meaningful impact on those lives that we do touch.