Columbia S&L has served Milwaukee for a century, now it wants to transform it
Martin said he’s been meeting with potential corporate and banking partners, and the institution has launched its “100 by the 100” campaign to commemorate its centennial anniversary in 2024 – hoping to raise $10 million in deposits by 2024. By reaching that number, the bank can fund 100 new mortgages to near north- and south-side residents. The bank is off to a good start, already securing $5.5 million in deposits.
“Where many think they have to do something through a charitable contribution in order to advance home ownership among low-to-moderate-income families in our community, this is a great example of just banking differently,” said Martin. Community-conscious companies don’t have to replace their banking relationships, they can just expand upon those relationships to include Columbia Savings & Loan.”
Whereas $1 million in deposits will allow a bank to extend two mortgages in some suburban areas of the region, the same amount will allow Columbia Savings & Loan to extend up to 10 mortgages for those purchasing on the near north- and south-sides of Milwaukee.
And with an increase in home ownership, Martin believes a number of issues confronting the community will improve.
“No government program, no philanthropic program is able to do it alone,” he said. “We can all be a part of the solution, and I think that’s where Columbia Savings & Loan can play an important partnership role.”