Flagstar Bank is committed to working with a diverse network of suppliers that provide quality products and services, competitive pricing, and first-rate performance and delivery within the communities we serve. Diversity among our business partners helps us innovate and create value. It puts us at a competitive business advantage while giving back to the community.
We also outline our expectations for our suppliers to promote diversity in our Statement of Vendor Principles.
Qualification criteria
Businesses that are at least 51% owned, operated, and controlled by U.S. citizens or lawful permanent residents who are members of one or more of the following groups qualify as diverse suppliers:
- Minority Business Enterprises (MBEs): African Americans, Hispanic Americans, Native Americans*, Asian Pacific Americans, Asian Indian Americans
- Women
- Veterans, including service and disabled veterans
- Individuals with disabilities
- Members of the LGBTQ community
- Small Business Enterprises qualified by the Small Business Association
* As used in this provision, Americans means American Indians, Eskimos, Aleuts, and native Hawaiians.
Supplier selection
We are dedicated to focusing on building quality business relationships by selecting suppliers based on the following criteria:
- Quality products and/or services, performance, and delivery
- Competitive pricing
- Effective risk management
Organizations we support
Our commitment to supplier diversity is reflected in our active participation with the following organizations:
- New York & New Jersey Minority Supplier Development Council
- Michigan Minority Supplier Development Council
- Southern California Minority Supplier Development Council
- National Minority Supplier Development Council
- Asian Pacific American Chamber of Commerce
- Michigan Hispanic Chamber of Commerce
- Women’s Business Enterprise Council Metro NY and Greater DMV
- Great Lakes Women’s Business Council
- Women’s Business Enterprise National Council
- Veteran Owned Business Roundtable
- National Veteran Business Development Council
- National Veteran-Owned Business Association
- Veterans In Business Network
- Disability:IN
- Detroit Regional LGBT Chamber of Commerce
- National LGBT Chamber of Commerce
Partner with us
If you are interested in becoming a supplier for Flagstar Bank, please email us at [email protected]. Our third-party management team will contact you for additional conversations. Engagement with our third-party management team and/or meeting the supplier diversity qualification criteria will not produce a preferred supplier status, but it does allow for potential consideration as future opportunities arise.
2023 accomplishments
- In an effort to identify qualified diverse-owned suppliers, we participated in multiple signature events (e.g., networking events, matchmakers, expos, etc.) for all of our partner organizations and their regional affiliates.
- We elevated our support of partner organizations to the national level by becoming corporate members of:
- We implemented a supplier diversity tool to enrich our diverse-owned supplier data, increase our efficiency in finding potential new diverse-owned suppliers, and collect Tier 2 reporting (i.e., spending by our non-diverse prime suppliers to their diverse-owned suppliers) from our strategic prime suppliers.
- We launched the Supplier Diversity Spotlight series on our social media channels to highlight some of the diverse-owned businesses we partner with.
