The bank's $300,000 donation serves to renovate the
nonprofit's first market, giving SNAP recipients a fresh
alternative to traditional meal and grocery options
PHILADELPHIA, Sept. 20,
2023 /PRNewswire/ -- M&T Bank (NYSE: MTB) is
helping one nonprofit organization reinvent the community corner
store concept and promote food access in neighborhoods across West
and Southwest Philadelphia.
The bank recently donated $300,000
to help The Community Grocer (TCG) build a community-run market to
bring thousands of Philadelphians within walking distance of fresh,
delicious and Supplemental Nutrition Assistance Program
(SNAP)-eligible meal solutions.
TCG enables residents to purchase locally sourced and
pre-portioned meal kits, which they can take home and prepare, or
"trade" the ingredients for a meal that is freshly prepared and
ready to eat – bypassing restrictions that don't allow food stamps
to purchase prepared meals. The kits stem from the organization's
mission of making eating well easier while ensuring its neighbors
have the help they need preparing their ingredients.
TCG's program has been vetted and approved by Harvard Law School's Food Law and Policy Clinic
as compliant with SNAP regulations.
Throughout the Philadelphia
region, more than 200,000 people are considered food-insecure, with
inconsistent access to affordable, healthy food. Philadelphia follows national trends with
children and people of color experiencing food insecurity at a
higher rate than others.
"Giving back isn't just an option, it's a responsibility," said
Dominique Goss, executive director
of M&T's Charitable Foundation. "Partnering with a nonprofit
that tackles food insecurity allows us to create a stronger, more
equitable community, ensuring our neighbors and those we serve have
access to the food their families need, as well as resources that
pave a path toward a brighter future."
Alexandre Imbot, TCG's CEO and co-founder, said: "TCG is
providing education from soil to supper, promoting sustainability
in a country where nearly 40% of food is wasted, and challenging
the food systems that leave entire neighborhoods without access to
fresh, affordable, and culturally relevant food."
In addition to the first-of-its-kind corner store located at 627
S. 60th Street, TCG's space will serve as a resource center for
community programming and support. As a community-focused bank
whose existing charitable priorities align with TCG's, M&T will
provide not only startup funding but also access to the resources
and guidance community members need to meet their financial and
business goals.
Brandon Smith, M&T's head of
consumer operations and risk, will serve on TCG's board of
directors and work with M&T volunteers to host free financial
education workshops for clients and community members within the
resource center.
"Regardless of someone's level of financial education, we meet
them where they are," Smith said. "By leading community workshops,
our goal is to equip our neighbors with the skills and
understanding needed to establish a secure financial future,
unlocking the potential for stronger communities."
Financing for the refurbishment of TCG's Philadelphia location was provided by
Community First Fund (CFF), a Philadelphia-based nonprofit partner of
M&T Bank. CFF is a Community Development Financial Institution
(CDFI) dedicated to aligning capital with social justice for
low-income communities and low-wealth individuals.
The Community Grocer also has backing and support from The
University of Pennsylvania, the FMC
Corp., and in-kind support from Ballard
Spahr and Stokes Architecture and Design.
"TCG's commitments are to our neighbors and the positive impact
we have in our community," said Eli
Moraru, TCG's president and co-founder. "As a nonprofit, we
are able to stay true to our mission and to our partners on every
step of this journey."
About M&T Bank
M&T Bank Corporation is a financial holding company
headquartered in Buffalo, New
York. M&T's principal banking subsidiary, M&T Bank,
provides banking products and services in 12 states across the
northeastern U.S. from Maine to
Virginia and Washington, D.C. Trust-related services are
provided in select markets in the U.S. and abroad by M&T's
Wilmington Trust-affiliated companies and by M&T Bank. For more
information about M&T Bank, visit www.mtb.com.
About The Community Grocer
Winners of the 2022 Penn Presidents Sustainability Prize, Silver
Medalist of 2023 Greater Philadelphia Social Impact Award, and
participants at the White House Hunger, Health, and Nutrition
conference, The Community Grocer is reinventing the corner store
and reimagining nutritional assistance to ensure that everyone has
access to the ingredients to live stronger, healthier lives.
Promoting food security & improving health outcomes through
their community driven retail access points of nutrition, TCG is
supporting communities to transform SNAP eligible ingredients into
delicious, healthy, and empowering meals through their innovative
business model while providing critical resources for community
growth and sustainability.
By and for the community, TCG is opening their first location at
627 S. 60th Street in 2024. To learn more, visit
www.thecommunitygrocer.org.
Media Contacts:
Scott Graham
(410) 409-4803
sgraham1@mtb.com
Nicole Cheslock (on-site)
(215) 539-9867
mtb@gregoryfca.com
© 2023 M&T Bank. Member FDIC.
NMLS# 381076
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