As part of our Move Your Money campaign, we’re excited to spotlight First Southwest Bank. For over a decade, First Southwest Bank has been a trusted Community Development Financial Institution (CDFI), dedicated to supporting economic growth and improving the quality of life for in our community. In this interview, we’ll dive into how their commitment to community development is making a lasting impact and why banking with them supports a stronger, more vibrant future for our region.

Why is banking local so important for the health and growth of our community?

Banking locally is essential to the economic vitality of our communities because it ensures that financial resources stay within the region, directly benefiting local businesses and individuals. As a Community Development Financial Institution (CDFI) for over a decade, First Southwest Bank is focused on supporting economic growth and development and we are committed to improving quality of life by providing financial resources to all. When you bank with First Southwest Bank you are supporting a mission-driven institution that funds small business growth, affordable housing, education, healthcare, and environmental initiatives.

How does First Southwest Bank support local businesses and entrepreneurs?

Our customers’ deposits stay right here in our community. They are used for microloans and small business loans to help local entrepreneurs launch and expand their businesses, creating jobs and driving economic growth.By fostering community partnerships and collaborations, we leverage public, private, and philanthropic resources to address local needs, from healthcare access to education and local events. By choosing a local bank, you’re investing in the success and resilience of your community, ensuring that financial support reaches the people and businesses that make our region thrive.

Can you share some examples of how First Southwest Bank has given back to the community in recent years?

At First Southwest Bank ,investing in our communities is at the core of what we do. In 2024, we contributed $193,890.36 to 90 local organizations and events, reinforcing our commitment to the communities we serve. Our employees create meaningful impact by volunteering, serving on 27 boards, and logging nearly 2,000 volunteer hours in 2024. We also prioritize financial education—since 2016, we’ve provided over 5,139 hours of financial counseling to more than 8,900 people, equipping individuals and businesses with tools for financial success.

What sets First Southwest Bank apart from larger national banks in terms of community involvement?

What sets First Southwest Bank apart from larger national banks is our commitment to the communities we serve. As a Community Development Financial Institution (CDFI), our mission goes beyond traditional banking—we invest in the needs and priorities of our local communities. Unlike national banks, your deposits stay local, funding microloans, small business loans, and other financial products that drive economic growth and entrepreneurship.

Our local decision-making means we understand the unique challenges and opportunities in our communities, ensuring tailored financial solutions. Plus, our employees aren’t just bankers—they’re neighbors, friends, and active community members who give back by volunteering, serving on boards, and supporting local initiatives.

How does First Southwest Bank ensure that customer deposits directly benefit the local economy?

First Southwest Bank ensures that customer deposits directly benefit the local economy by reinvesting them into the communities we serve. Through microloans and small business loans, we support local entrepreneurs, small businesses, and startups—creating jobs and driving economic growth. We also secure low-cost funding for affordable housing, education, healthcare, and environmental initiatives. Additionally, we invest in local organizations and events that enrich the lives of our friends, neighbors, and children – helping make our region a vibrant place to live, work, and raise a family.