PNC Bank invests $7.5 million in Detroit housing fund
Fund aims to close financing gaps for residential developers
$75 million fund has raised $48 million so far
CoStar Group Inc.
PNC Bank s regional headquarters is in Troy.
PNC Bank has become the latest lender to take part in the public-private Detroit Housing for the Future Fund.
In a joint news release Wednesday, the city and PNC Bank, which has its regional headquarters in Troy, announced that the lender has made an investment of $7.5 million toward the fund, which seeks to preserve affordable housing in the city of Detroit.
Pittsburgh-based PNC had about $463 billion in total assets as of the end of last year, according to a regulatory filing, and has about 2,200 locations in 10 states, including about 200 in Michigan.
Historic Detroit bank offers virtual financial wellness series for free
Workshop being offered via Zoom
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DETROIT – A historic Metro Detroit bank is expanding its services to teach more people about financial literacy.
First Independence Bank is offering a virtual financial literacy workshop. Historically, it has been more difficult for Black people to get access to money.
First Independence Bank, founded in Detroit, was the first Black-owned bank in Michigan.
“There was some access but it wasn’t as much as we needed,” Dimitrius Hutcherson, with First Independence Bank, said. “We were that place that they could go.”
The bank has grown since it started in 1970. It’s now a full-service bank with three locations and partnerships with bigger banks.
Great Lakes MassMutual joins forces with First Independence Bank to bridge financial gap in metro Detroit
Monetary success should not just be reserved for a few. Equal access to the tools and resources to gain a strong financial footing are things everyone deserves.
and last updated 2021-05-10 18:34:23-04
(WXYZ) â Monetary success should not just be reserved for a few. Equal access to the tools and resources to gain a strong financial footing are things everyone deserves.
Today, two financial institutions joined forces for a common goal to expand insurance and investment access to all. This is just my dream, said Gina Coleman, chief sales officer for MassMutual Great Lakes in Southfield. The firm of professionals are motivated by a pledge that states that everyone deserves a chance to reach their goals and to have a plan for real financial freedom.
MassMutual adviser to operate out of bank branch near Seven Mile Road and Livernois
Service is free of charge to First Independence Bank customers
First Independence Bank
Manuel Amezcua (left), president and CEO of MassMutual Great Lakes, and Kenneth Kelly (right), chairman and CEO of First Independence Bank in Detroit.
A new partnership with financial services firm MassMutual Great Lakes LLC in Southfield aims to bolster the suite of products offered by First Independence Bank.
Detroit-based First Independence, among the largest Black-controlled lending institutions in the country, announced the new partnership with MassMutual on Monday.
Financial terms of the partnership were not disclosed.
Comerica Bank is earmarking $5 billion for small business lending over the next three years and expanding a support program."Coming out of this pandemic, now more than ever, small businesses need our support," Cassandra McKinney, executive vice president of Comerica's Retail Bank, said in a news…