BOSTON, Oct. 17, 2018 /PRNewswire/ -- Santander Bank
today announced that it has donated nearly $4 million to 135 non-profit organizations that
support low- and moderate-income (LMI) individuals, families and
communities primarily located in its Northeast footprint. This is
the second of three rounds of funding in 2018. One quarter of the
funding – $1 million – is allocated
to 13 community development financial institutions (CDFIs) through
the Bank's CDFI Initiative, a special funding opportunity targeted
to CDFIs working to stabilize neighborhoods, create and preserve
affordable housing, deliver services to vulnerable populations, and
provide assistance to diverse entrepreneurs and small
businesses.
CDFIs are private financial institutions that are 100 percent
dedicated to providing responsible, affordable lending to help
disinvested people and communities join the economic mainstream and
develop innovative ways to deliver capital and resources to
distressed communities.
"It is our mission at Santander Bank to help people and
businesses prosper and to play a meaningful role in improving the
quality of communities in which we live and work," said
Jesse Villarreal, Executive Vice
President, Interim Corporate Social Responsibility Director and
Head of Government Relations and Public Policy. "By leveraging our
charitable giving and volunteering with other public and private
resources to drive positive change in our neighborhoods, we believe
there is an opportunity to build community and family wealth and
well-being."
The Santander Bank Charitable Contributions Program awards
grants in the spring, fall and winter by investing in programs that
improve the quality of life for the residents in the neighborhoods
where the Bank's customers and colleagues live and work.
Awardees of the CDFI Initiative multi-year grants include:
- Union County Economic Development Corporation (UCEDC) -
$300,000 over three years to help
leverage additional loan capital for small businesses and provide
technical assistance, training and mentoring to small businesses
throughout New Jersey and the
Greater New York and Philadelphia metro areas.
- First State Community Loan Fund - $300,000 over three years to support the
organization's efforts to lend nearly $11
million to local small businesses helping to create more
than 1,000 jobs in Wilmington,
Delaware, and Chester and
Coatesville in Pennsylvania.
- Accion East - $225,000
over three years to support key improvements in the organization's
loan processes leading to the disbursement of nearly $19 million in microloans and SBA 7a Community
Advantage loans to small businesses, resulting in the creation or
retention of more than 4,700 jobs within the Bank's footprint.
Other large grants awarded during this funding cycle will
support our partners' efforts to provide community services and
financial education to LMI youth, adults and families:
- Junior Achievement USA
- $350,000 to support the
implementation of financial literacy programs in schools throughout
New England and the Mid-Atlantic.
- City Year - $320,000 to
support a team of stipend volunteers providing classroom support
for teachers and students in LMI public schools.
- Boys and Girls Clubs of Boston - $125,000 to support afterschool programs
providing education enhancement and other activities focusing on
literacy, science, math and the arts.
- Friends of the Children-Boston - $115,000 to support the innovative Achiever
Entrepreneurship Program and the organization's annual fundraising
event.
- New Jersey Citizen Action Education Fund - $105,000 to provide free financial empowerment
programs to 8,000 LMI families across New
Jersey.
- Philadelphia Youth Network - $100,000 to support citywide campaigns and
evidence-based program models for youth and young adults aged 12 to
24 in LMI Philadelphia communities.
- Phipps Neighborhoods - $50,000 to support college access and career
readiness programs in three Bronx-area high schools.
Non-profit organizations interested in applying for a grant can
access Santander's application guidelines by visiting the Santander
Charitable Contributions Program or sending questions to
santandercharitablecont@santander.us.
A full listing of charitable grants awarded in the second round
of funding for 2018 is available at
www.santanderbank.com/us/about/media-center.
Santander Bank, N.A. is one of the country's largest
retail and commercial banks with $74.5
billion in assets. With its corporate offices in
Boston, the Bank's approximately
9,600 employees, over 600 branches, more than 2,000 ATMs and 2.1
million customers are principally located in Massachusetts, New
Hampshire, Connecticut,
Rhode Island, New York, New
Jersey, Pennsylvania and
Delaware. The Bank is a
wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN)
- one of the most respected banking groups in the world with more
than 125 million customers in the U.S., Europe, and Latin
America. It is overseen by Santander Holdings USA, Inc., Banco Santander's intermediate
holding company in the U.S. For more information on Santander Bank,
please visit www.santanderbank.com.
Media
Contact:
Nancy Orlando
617-757-5765
nancy.orlando@santander.us
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SOURCE Santander Bank, N.A.