History of NECB
Founded as the American Banking Institute (ABI) in 1909, the institute was later incorporated by the Commonwealth of Massachusetts in 1914. ABI 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, ABI received full college accreditation from the New England Association of Schools and College – the only bank-sponsored educational institution in America to become accredited as a degree-granting college. In 1988, the member banks associated with ABI expanded throughout New England and later voted to change the name to the New England Banking Institute.
Evolving to support multiple states: 1988-1998
Following the adoption of the name The New England Banking Institute (NEBI), NEBI received official licensure from the state of Connecticut Department of Higher Education in 1990. Connecticut is the first state outside of Massachusetts to recognize Boston-based NEBI as a degree-granting college. Rhode Island approved NEBI in 1993, while New Hampshire recognized the college in 1997. In 1998, The New England Banking Institute changed names to New England College of Finance.
NECF to NECFOnline: 1998–2002
In 1998, NEBI became the New England College of Finance (NECF). The name change was associated with a major strategic initiative. The landscape of financial services was changing, and the Board of Trustees and members voted to expand NECF's market, mission, products and membership to include all financial services, with particular emphasis on banking, insurance and investment management. The college added new programs to address segments of the industry. In 2002, NECF selected the Alfred P. Sloan Foundation as a partner to deliver their degree programs online. The first online degree programs were delivered through NECFOnline.
NECF to NECB – 2002-current
In 2004, UC Berkley adopted NECF's finance curriculum to include in their post-baccalaureate level online certificate program for college graduates in banking and investment management sectors. The "Accelerated Program in Financial Services" was launched in April 2004. UC Berkeley credits were transferred into master's programs at prominent NECF partner colleges. In 2008, NECF changed its name to New England College of Business and Finance and was also granted degree elevation authority. In 2009, NECB introduced its Bachelor of Science in Business Administration (BSBA), a Master of Science in Finance (MSF), and the nation's first Master of Science in Business Ethics and Compliance (MBEC).
Today, NECB is an online college accredited by the New England Association of Schools and Colleges (NEASC) and licensed by the Massachusetts Department of Higher Education. In 2011, NECB introduced its Master of Business Administration (MBA).