First Independence Bank, a state chartered commercial bank, complies with all applicable laws rules, regulations and ordinances of the City of Detroit, the County of Wayne, the State of Michigan, and the federal government. First Independence Bank has experience providing services to entities and individuals of varying size and complexity. First Independence Bank conforms to National Automated Clearing House Association rules. All depositors of First Independence Bank are insured by the FDIC up to $250,000.

First Independence Bank opened its doors to the public on May 14, 1970. First Independence Bank have served the banking needs of the Detroit Metropolitan area for over 50 years and remain one of two banks headquartered in the City of Detroit, as well as the only African-American owned bank headquartered in the State of Michigan. Treasury Management Services are generally managed from the headquarters on the historic, Woodward Avenue in Detroit, Michigan. 

The Bank is the majority owner of Minority Alliance Capital, LLC (“MAC Leasing”). MAC Leasing is a certified minority-owned equipment leasing company providing equipment lease financing, leasing administration and lease advisory services for fortune 1000 companies. Headquartered in West Bloomfield, Michigan, MAC Leasing is jointly owned by two certified minority-owned banks. MAC Leasing is committed to helping secure the best quality solutions for financing and managing the complex process of equipment acquisition, life cycle management and asset tracking. 

First Independence Bank is one of only 144 minority depository institutions in the country, as defined in Section 308 of the Financial Institution Reform, Recovery and Enforcement Act of 1989 (“FIRREA”), and the only minority depository institution headquartered in the State of Michigan. Minority Depository Institutions (MDIs) often play a unique role in promoting the economic viability of under-served communities. The FDIC has historically taken steps to preserve and encourage minoritiy ownership of insured financial institutions. For Clarity, there are approximately 20 institutions designed as African-American-controlled depository institutions left in the US of the 144 minority institutions (Asian, Hispanic, Native-American). First Independence Bank, being within the top five, puts Detroit and Wayne County in a unique leadership position of African-American-controlled institutions.

First Independence Bank has met the requirements for certification by both the City of Detroit and Wayne county. First Independence Bank has been designed by the City of Detroit as both a Detroit-Headquartered Business and a Minority-Owned Business Enterprise and by the County of Wayne as a County-Based Business Enterprise. 

First Independence Bank has also met the requirements for certification as a Minority Business Enterprise (MBE) by the National Minority Supplier Development Council (NMSDC).