BYFC
- Broadway Financial Corporation
()
Overview
Company Summary
Broadway Financial Corporation (BYFC) is a company that operates as a bank holding company in the United States. It primarily focuses on serving the needs of communities that are historically underserved by traditional financial institutions, especially in low-to-moderate income areas.
The company owns Broadway Federal Bank, which is a community-oriented savings bank that provides various financial services. Broadway Federal Bank operates through its branches in Los Angeles, California, and Inglewood, California.
The core services offered by Broadway Financial Corporation include deposit products, such as savings and checking accounts, certificates of deposit, and money market accounts. These products cater to the needs of individuals, families, businesses, and nonprofits within their target communities.
Additionally, the company provides lending services, such as residential and commercial real estate loans, construction loans, and small business loans. These lending products help individuals and businesses in their communities to finance their housing needs or grow their entrepreneurial ventures.
Broadway Financial Corporation also emphasizes community development by actively investing in affordable housing initiatives and various community-based organizations. They aim to promote economic development and financial empowerment within the neighborhoods they serve.
As a bank holding company, BYFC has the ultimate responsibility for overseeing the operations of Broadway Federal Bank and ensuring its compliance with regulatory standards. They provide strategic guidance, manage risk, and support the growth and stability of the bank.
In summary, Broadway Financial Corporation is a financial institution that focuses on serving historically underserved communities by offering banking and lending services, promoting community development, and providing financial support to individuals, families, businesses, and nonprofits in these areas.