By Staff
KeyBank will increase its National Community Benefits Plan, which focuses on economic access and equity for underserved communities, from $16.5 billion to $40 billion, the Ohio-based company announced Friday.
The fund surpassed its $16.5 billion goal with $18 billion in investments, including $280 million in Maine. The increased fund will provide $36 billion to support equity and inclusion in housing, small-business lending and philanthropic efforts in underserved neighborhoods, and $4 billion in renewable energy and sustainability.
“Corporate citizenship matters; it matters for our communities, for our clients, and for our colleagues, Chris Gorman, KeyCorp CEO and president, said in a news release announcing the fund increase. Delivering on the commitments of our Community Benefits Plan has brought access to capital for neighborhoods and neighbors who have often faced unfair barriers to financial support.
KeyBank boosts Community Benefits commitment to $40B | Rochester Business Journal
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KeyBank Expands Community Commitment - Banker & Tradesman
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KeyBank Announces $40B Investment In Communities Including Affordable Housing, Economic Inclusion, And Climate Change Funding Commitments
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