The Illinois Service Federal (ISF) Bank is now officially called GN Bank
“As chairman of the board, I commit to you – GN Bank is here to work with you in our community.”
This is against the situation experienced in the USA where many
ISF Bank became the only African-American owned bank in the State of Illinois last year when Seaway Bank collapsed.
Groupe Nduom acquired ISF Bank two years ago and established a three-year turnaround plan.
The Bank achieved that goal last year and continues to be profitable thanks to its loyal customers.
“Under our new brand, you will see the care and attention to customers that
It will be recalled that the USA banking regulator, the Office of the Controller of the Currency (OCC), earlier this year approved the changing of the name of the South Side Chicago based Illinois Service Federal Savings Bank (ISF Bank) which was started in 1934 by 13 black men to
become GN Bank.
“The full weight of our overall corporate business is behind us, and we are confident in what we are building on the South Side of Chicago. We offer our services and products to the broad community, but we will focus keenly on communities that have been overlooked by the major
banks – especially African-American, African, Caribbean and Latino communities,” he disclosed.
Groupe Nduom has developed a banking brand which started as a savings and loans company in Ghana and has grown to become an international bank, with more than 330 branches in Africa.
“I wish to show appreciation to the members of our board of directors, management and staff for
He also paid tribute to some management personnel from Groupe Nduom in Ghana who
Concluding his remarks from 2 Corinthians 9:6 in the Bible,
“The point is this: whoever sows sparingly will also reap sparingly, and whoever sows bountifully will also reap bountifully.”