ARLINGTON, Va. & MILWAUKEE--(BUSINESS WIRE)--West Potomac Capital LLC (WPC) and Ampersand, Inc. (Ampersand) jointly announce the launch of a groundbreaking social impact cash investment product – WPC Impact$. WPC and Ampersand have partnered on this product to provide best-in-class investment management and operational cash management services to depositors in the mission-driven financial services sector.
WPC and Ampersand will facilitate deposits with:
- Minority Depository Institutions (MDIs) including U.S. Banks and Credit Unions
- Women-Owned Depository Institutions (WDIs)
- U.S. Department of the Treasury certified Community Development Financial Institutions (CDFIs) including U.S. Banks and Credit Unions
- Low-Income Designated Credit Unions (LICUs)
WPC Impact$ will be led by Trevor Montano, WPC Founder, Managing Member, and former Chief Investment Officer at the U.S. Department of the Treasury who has a decade of experience investing in, and managing capital allocated to, mission-driven financial institutions. WPC will provide credit underwriting and monitoring as well as impact reporting on such deposits utilizing proprietary credit underwriting models and an impact management and measurement framework internally developed specifically for U.S.-based mission-driven financial institutions.
Kelly Brown, CEO of Ampersand, Inc., brings her pioneering expertise in the deposit aggregation sector to the co-leadership of WPC Impact$. With a distinguished 30-year career, she has successfully guided numerous companies and banks, contributing a wealth of knowledge and experience to this strategic partnership. Ampersand provides high-touch cash management and reporting services that align with the needs of depositors nationwide. The commitment of Ampersand extends to both safeguarding depositor funds and addressing the regulatory needs of our banking partners.
"Harmonizing values doesn't mean compromising on competitive rates or the safety of deposits," said Kelly A. Brown, CEO of Ampersand Inc. “At Ampersand, our unwavering dedication lies in supporting MDIs and CDFIs in their community-focused endeavors. We strive to connect substantial depositors with these institutions, empowering them to spearhead impactful community initiatives. Ampersand's commitment to aligning depositor values with suitable financial institutions makes us the perfect partner for West Potomac Capital in this initiative. Recognizing the longstanding desire of companies nationwide to uplift communities, our program serves as a bridge, allowing depositors to align with values while enjoying competitive rates and full FDIC insurance. These aggregated deposits play a pivotal role in community empowerment, fostering small business loans, consumer loans, and essential investments that contribute to the overall prosperity of communities.”
“We are extremely excited to bring this new and innovative impact investing product to market in partnership with Ampersand. On the back of unprecedented government capital investment in the sector, we believe there is a $100 billion deposit opportunity to support mission-driven financial institutions across America,” said West Potomac Capital LLC founder Trevor Montano. “It has been wonderful to see the significant increase in commitments related to social equity over the past few years and we intend to work with great organizations such as the Economic Opportunity Coalition, Business Roundtable, CEO Action for Diversity and Inclusion, and many others to help direct such commitments to highly impactful opportunities.”
Potential depositors and mission-driven financial institutions interested in learning more, please email email@example.com.
About West Potomac Capital LLC
West Potomac Capital LLC is a minority-owned asset management firm headquartered in the Washington, D.C. metro area. The firm focuses on investing in the financial services sector, especially mission-driven financial institutions. WPC was founded in 2020 by Trevor Montano, former Chief Investment Officer for the U.S. Department of the Treasury. More at www.westpotomaccap.com.
About Ampersand, Inc.
Ampersand, Inc. is a Midwest-based financial services firm, founded by highly experienced banking professionals, and dedicated to addressing the distinct treasury management needs of financial institutions and depositors. The Ampersand team has more than 200 years of extensive experience in banking and treasury management and is supported by co-lead investors JAM FINTOP and Patriot Financial Partners. For more information on how Ampersand is pioneering treasury management and values-based banking, visit www.trustampersand.com.