KEYBANK PARTNERS WITH COMMUNITY LENDING INSTITUTIONS TO PROVIDE $50 MILLION IN ACCESS TO CAPITAL
The announcement includes support in the following institutions:
Adelphi Bank – Columbus, OH
Carver Federal Savings – Harlem, NY
First Independence Bank – Detroit, MI
Legacy Bank – Murrieta, CA
OneUnited Bank – Boston, MA
Native American Bank – Denver, CO
"Our country's CDFIs and MDIs are vital to providing economic opportunity in underserved and low-income communities," said Chris Gorman, Chairman and CEO of KeyBank. "Our support of the CDFIs and MDIs is part of our ongoing commitment to address social justice and racial equity in the communities we so proudly serve."
"KeyBank's acknowledgment of Legacy Bank's social mission within Native American communities is sincerely appreciated. Inclusion as a Native American bank among other CDFI and MDI institutions in their $50 million deposit commitment exemplifies KeyBank's commitment to fostering a more inclusive financial landscape," said James D. Hicken, President & CEO of Legacy Bank. "Together, we can amplify our impact, broaden financial access, and enhance the quality of life in urban and rural areas alike. We value KeyBank's shared vision and collaborative spirit in making a lasting difference for low-income and underserved communities."
"KeyBank is demonstrating what a more inclusive financial services industry looks like by fulfilling their overall $50 million commitment towards various Minority Depository Institutions in America," said Kenneth Kelly, Chairman & CEO of First Independence Bank. "This support allows various MDIs to continue their concerted effort to expand their reach and expand relationships into partnerships within our industry. I am elated that KeyBank shares the same vision that all leaders can better impact communities we serve when we collaborate to broaden the financial quality of life for all."
This support for Community Development Financial Institutions and Minority Depository Institutions are just the latest testament to KeyBank's enduring commitment to economic inclusion. In 2022, KeyBank extended financing to 10 additional CDFIs, including loan funds, affordable housing lenders, and small business loan providers that included $67 million of debt financing and approximately $6.5 million of equity financing. Prior to 2022, KeyBank deployed $93 million to CDFIs, including Cleveland Development Partnership, Impact Capital, and Rocky Mountain Reinvestment Corporation.
KeyCorp's roots trace back nearly 200 years to Albany, New York.
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.
Latest Stories
- The Donny Hathaway Legacy Project Sponsors Tribute to Donny Hathaway Produced by Brother Let’s Talk in Partnership with Birmingham Cares
- OVER 5000 MOTHERS AND EXPECTING MOTHERS ATTENDED WORLD’S LARGEST BABY SHOWER IN RICH TOWNSHIP
- City Colleges Of Chicago And Chicago State University Support Transfer Students with Admission Agreement
- UNCF TO HONOR EIGHT AT “A MIND IS…” GALA, JUNE 15
- MAYOR BRANDON JOHNSON PROCLAIMS SALVATION ARMY WEEK IN CHICAGO
- ICYMI: Democratic Leaders Mark 100 Days until the Democratic National Convention
- Nonprofit Provides Safe Space For Young People To Showcase Their Creativity
- Free Learning Opportunities Available and Volunteers Needed for the South Suburban College Literacy Tutoring Program
- School of the Art Institute of Chicago at Homan Square Engages Community In Arts And Culture
- President Of South Suburban College Reflects On Her Career And Colleges Evolution