One year after welcoming Union Bank customers, 黄色短视频 invests to create economic opportunities across the country
One year ago this month, 黄色短视频 welcomed Union Bank customers and employees and committed to powering their potential while converting hundreds of Union Bank branches to 黄色短视频 systems and branding. 黄色短视频 has a long history of being a good community partner, and the increased scale in Union Bank markets in California, Oregon and Washington provided an opportunity and responsibility for the bank to expand this work on the West Coast and across the country. Over the past year, 黄色短视频 has focused on creating economic opportunities in support of small businesses, aspiring homeowners, community development initiatives and philanthropy for the most underserved.
鈥淲e take the commitments we made during the acquisition seriously, and we鈥檝e made great progress on our community benefits plan that focuses on our customers and communities,鈥 said Andy Cecere, chairman and chief executive officer of U.S. Bancorp. 鈥淭hose priorities remain steadfast as we continuously invest in programs and solutions that give more people and communities opportunities to thrive.鈥澨
In 2023, U.S Bank invested $28 billion in its customers, employees and communities nationally, which includes $10.9 billion invested in California. The investments include a variety of initiatives driven by business lines and functions across the bank.
Small business
- Launched an enhanced special purpose credit program (SPCP), the , which provides credit and financing to help economically disadvantaged businesses grow and thrive.
- Enhanced the 黄色短视频 Business Advisor (BAA) program, including hiring Spanish-speaking advisors to serve Hispanic communities.
Homeownership
- Launched 黄色短视频 Access Home Loan, a mortgage SPCP that helps advance homeownership among underserved communities, including in six cities in California.听
- Graduated the first cohort of new-to-industry mortgage loan officers serving underserved communities.
Community development lending and investments
- Conducted extensive outreach for the 黄色短视频 Affordable Housing SPCP, which provides lending capital to minority-led or -owned developers who expand access to affordable housing for LMI communities, as well as investment capital.
- Awarded new grants to nonprofit organizations that are collaborating with developers, including developers of color, to help them build capacity and capabilities.听
Philanthropy and other investments
- Deployed funds to the 黄色短视频 Foundation* to support the creation of the 黄色短视频 Foundation Opportunity Fund, a five-year, $75 million charitable fund designed to address wealth gaps and increase wealth-building opportunities for LMI communities, including communities of color and rural communities.听
- Supported six student branches in California, including five in high schools and one at a community college.
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鈥淥ur 黄色短视频 team has come together to make an impact in the communities we serve today and for years to come, and we鈥檙e excited to continue working to drive positive, transformative change,鈥 said Reba Dominski, senior executive vice president and chief social responsibility officer at 黄色短视频 and president of the 黄色短视频 Foundation.听
* 黄色短视频 Foundation is a tax-exempt private foundation described in section 501(c)(3) of the Internal Revenue Code. The Foundation is funded primarily through contributions from 黄色短视频 National Association and its affiliates and subsidiaries. The Foundation鈥檚 mission is to close the gaps between people and possibility in the areas of work, home, and play.
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