National Cooperative Bank Releases 2023 Mission Report Highlighting Initiatives Serving Low-and-Moderate-Income Communities and New Cooperative Development
ARLINGTON, Va., April 18, 2024 /PRNewswire/ -- National Cooperative Bank (NCB), a leading financial services company dedicated to providing banking products to cooperatives and socially responsible organizations nationwide, committed $384 million of its overall annual production to initiatives serving low-and moderate-income communities and new cooperative development during 2023.
NCB's mission is to support and be an advocate for America's cooperatives and their members, especially in low-income communities, by providing innovative financial and related services. The capital was provided through direct lending and investments in the following impact sectors:
- Housing: $103.7 million for affordable housing initiatives and low-and-moderate-income mortgage loans nationwide.
- Non-profit & Community Development: $16.9 million to finance commercial real estate in low-income areas and organizations focused on economic development.
- Credit Unions: $93.6 million to low-income or community development credit unions.
- Food: $24.6 million to expand access to healthy food in low-and moderate-income communities.
- Hardware: $9.1 million to support hardware retailers nationwide.
- Health Care: $31.7 million to support healthcare and aging services.
- Renewable Energy: $89.8 million to finance solar panel installation in low-and moderate-income communities.
- Small Business: $7.0 million to support small businesses.
In addition, NCB provided $7.2 million in contributions, investments, and grants to support entities serving low-income communities and co-op development.
Please read our full mission report: 2023 Mission Report
Contact:
Mary Alex Blanton – NCB (703) 302-8876
[email protected]
SOURCE National Cooperative Bank
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article