The National Cooperative Bank (NCB) is a Lasting Affordability Partners Circle member of Grounded Solutions Network. This two-year membership category is designed for large organizations in our ecosystem whose assistance to smaller organizations on the ground helps scale initiatives to create housing with lasting affordability.
Q1: Where is NCB located?
A1: National Cooperative Bank is a nationwide bank that operates in all 50 states. We have physical operation centers in Arlington, VA, and Hillsboro, OH. Additionally, NCB has an office in New York City that serves the NY cooperative housing sector, as well as business development officers throughout the country to serve our customers. Although NCB does not have nationwide branches, it has a sophisticated online banking platform to offer full-service banking throughout the country.
Q2: What is NCB’s mission?
A2: NCB’s mission is to support and be an advocate for America’s cooperatives and their members, especially in low-income communities, by providing innovative financial and related services. NCB’s cooperative and community development mission has guided the organization for 46 years and is a critical component of what defines the institution.
Q3: Why is being a member of Grounded Solutions Network important to NCB?
A3: NCB’s primary line of business is housing. As the leader in providing financing to housing co-ops and shared equity housing nationwide, NCB has been instrumental in expanding homeownership in resident-owned communities and through other housing models. By partnering with Grounded Solutions Network, NCB can further cultivate relationships with Community Land Trusts (CLTs) and provide them with necessary capital and other banking services.
Q4: How many staff members does NCB have?
A4: NCB has approximately 328 employees.
Q5: What kinds of customers does NCB serve?
A5: NCB’s commercial customers are cooperatives and mission driven organizations, such as grocery wholesaler co-ops, consumer food co-ops, purchasing co-ops, credit unions or housing co-ops, and community development financial institutions. Other customers include Native American enterprises, which by their very nature are member-run and member-owned, community health centers, including those focused on frail, low-income seniors, or non-profit organizations driven entirely by community needs.
NCB also offers home mortgages; share loans for co-op units and tenant in common (TIC) loans; and traditional loan, deposit, and online banking services to individual consumers nationwide, specifically members of cooperatives and socially conscience individuals.
Q6: How has NCB’s customer base grown over the years?
A6: NCB’s loan portfolio grew over 35% over the past three years, with the largest increases in its housing portfolio. NCB deposits also continue to grow with a focus on the credit union sector, property managers, and community associations. NCB currently has assets of $4.0 billion.
Q7: What recent awards/recognitions has NCB received for its work?
A7: NCB was named a 2024 Top Workplace in Washington, D.C. by The Washington Post and ranked sixth on the large companies list for the 2024 Best Employers in Ohio.
Q8: What challenges has NCB faced in recent years?
A8: As a nationwide bank that is niche-focused, but still small, it can be challenging to gain market recognition. NCB must also routinely invest in new technologies to make banking easier and to improve the overall customer experience. NCB most recently did this by overhauling our online treasury services platform to be best in class for our payment and cash management clients across the country.
Q9: What are some of NCB’s goals for 2025?
A9: NCB wants to leverage its knowledge of co-op housing to do more with CLTs and other shared equity housing models, defining market needs and identifying ways NCB can provide the right banking services to meet those needs. 2025 is also the International Year of the Co-op so NCB would like to increase awareness of the co-op model.
Q10: How can people stay up-to-date on news about NCB?
A10: Please visit www.ncb.coop and sign up for NCB’s newsletter.
