Blog posts – M&F Bank

Protecting Seniors from Financial Abuse

Be organized, proactive, and aware to protect yourself, family and friends from financial abuse

It’s easier than ever to handle our finances without setting foot inside a bank with so many advances in technology, but these changes have also made fraud and financial abuse a prevalent problem for older adults. Most elder financial abuse involves scams, forgery, identity theft, or undue pressure to give someone access to property or funds by simply providing information over the phone.

What Is a Bad Credit Score?

Based on the FICO® Score* range of 300 to 850, a credit score below 669 is considered to be either fair or bad.

Lenders often refer to this group as “subprime,” which indicates borrowers who may have a hard time repaying a loan.
A bad credit score can be compared to a bad grade in school, a failing grade on a driving test, or getting bad results for any other type of assessment that uses a numerical ranking to judge performance. Getting the news that your credit scores might be less than stellar can be disheartening, but the good news is you are not stuck with your bad credit scores. Make improvements to a few key credit management habits, and over time, your score will improve.

What Is a Bad Credit Score?

Based on the FICO® Score* range of 300 to 850, a credit score below 669 is considered to be either fair or bad.

M&F Bank Enhances Customer Experience with New Collaborations

DURHAM, N.C.– April 25, 2022 –M&F Bank, the second-oldest African American-owned bank in the nation, today announced three new, independent collaborations with Zelle®, Fiserv. and JPMorgan Chase. The relationships deliver enhanced customer benefits by creating increased convenience and connectivity for thousands of customers.

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M&F Bancorp, Inc. Announces Record 2021 Results and Increased Quarterly Cash Dividend

Chairman and President’s Letter

To Our Fellow Shareholders: 2021 was the best year in the history of our organization!

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M&F Bancorp, Inc. Announces Record 2021 Results and Increased Quarterly Cash Dividend

DURHAM, N.C.– M&F Bancorp, Inc. (“Company”) (OTC Pink: MFBP), the parent company of M&F Bank (“Bank”), announced unaudited financial results for the fourth quarter of 2021 and a quarterly cash common dividend of $0.03 per share.

James H. Sills III, President and CEO of the Company, commented, “2021 was the best year in the history of the Company! We are extremely pleased that we exceeded net income, total assets, loan and deposit targets for the year. Additionally, 2021 marked four straight years…

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