April 11, 2021

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National Cooperative Bank Releases 2020 Mission Report Highlighting Lending, Advocacy, Economic Development and DEI Initiatives | State

ARLINGTON, Va., March 25, 2021 / PRNewswire / – National Cooperative Bank (NCB), a leading financial services company committed to providing banking products to cooperatives and socially responsible organizations across the country, is committed $ 399 million Initiatives for communities with low and middle income and new cooperative development in 2020. The capital was provided through direct loans and investments in the following impact sectors:

  • casing$ 197.1 million for housing associations, home loans and affordable housing initiatives across the country.
  • Alaska/ Native $ 18.1 million to support companies owned by local organizations.
  • Community development & expansion

    $ 16.7 million Finance commercial real estate in low-income areas and organizations with a focus on economic development.

  • Credit Union$ 21.2 million to low-income or municipal credit unions.
  • eat$ 59.7 million Expand access to healthy food in low-income and low-income communities.
  • hardware$ 19.1 million Support hardware dealers nationwide.
  • Health care

    $ 25.7 million Support health and aging services.

  • Renewable energy$ 21 million Financing the installation of solar panels in low-income and low-income communities.
  • Small business

    $ 17.6 million in support of small business and agricultural loans.

  • Investments & grants

    $ 2.6 million Assisting institutions serving low-income communities and cooperative development.

“The impact we make in communities is what sets the National Cooperative Bank apart from other financial institutions,” she said Casey Fannon, President of the NCB. “In addition to our record lending results for 2020, the NCB has also been a strong co-op advocate for COVID relief programs $ 50,000 made available for the annual Co-op Innovation Awards $ 145,000 in grants to students of color and grants in support of racial justice and approved 246 Paycheck Protection Program loans in total $ 107.4 million. “

Please read our full Mission report.

Contact:

Mary Alex Blanton – NCB (703) 302-8876

[email protected]

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SOURCE National credit union