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| IBC Processing Corporation |
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In keeping with International Bank of Chicago's
ongoing commitment to strengthening its relationships
to support its community economic development efforts,
the bank, in collaboration with a large Chicago banking
institution, launched the IBC Processing Corporation in
2001. Located in the primarily Hispanic, Pilsen neighborhood
on the Lower West Side of Chicago, the IBC Processing
Corporation employs approximately 150 people, mostly residents
of the economically distressed community. The area features
a high rate of employment, and many of the residents do
not frequent banking institutions, instead carrying out
their financial transactions at currency exchanges, check
cashing facilities and pay day lenders.
International Bank of Chicago has made a commitment to
promote community economic development in the Pilsen area
by focusing on improving access to affordable capital
as well as job creation. As part of this employment initiative,
IBC has strived to hire area residents who are minority,
low-income individuals, and those who have suffered setbacks
due to unemployment. Furthermore, IBC has provided comprehensive
training to IBC Processing Corporation employees, helping
them to become skilled members of the workforce.
International Bank of Chicago has also aided a number
of businesses in the Pilsen area. IBC hired Monterrey
Security to provide security services at the IBC Processing
Corporation and at its other bank branches.
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