New England College of Business and Finance

Founded in 1909 by a consortium of Boston banks to train its personnel, the American Institute of Banking (AIB) was incorporated by the Commonwealth of Massachusetts in 1914. AIB received its degree-granting authority in 1979 from the Board of Regents of Higher Education in Massachusetts to offer an Associate's Degree of Business Administration. In 1985, AIB became the only bank-sponsored educational institution in America to be accredited as a degree-granting college, receiving full college accreditation from the New England Association of Schools and Colleges. In 1988, the member banks associated with AIB expanded throughout New England and later voted to change the name to New England Banking Institute.