Regions Bank and Regions Foundation Build on Investments Supporting Racial Equity and Economic Empowerment
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“At Regions, we are committed to serving others to make life better, and we stand together with our communities in addressing the systemic racism and bias that impact so many people in our society,” said
$1,000,000from the Regions Foundation for the National Urban League: The National Urban Leagueand its local affiliates work to empower African Americans and underserved residents in urban areas by securing economic advancements, parity, power and civil rights. Regions is a longtime supporter of the Urban Leagueand works closely with affiliates to address community needs.
$2,000,000allocated through deposits in Minority-Owned Banks and investments in Community Development Financial Institutions (CDFIs): The Regions Community Development Corporation, a wholly owned subsidiary of Regions Bank, will set aside $2,000,000to support the services of minority-owned banks as they help clients achieve financial goals, including homeownership, and CDFIs that work with minority-owned businesses to support their growth and success.
Additional portions of the
$12 millionwill be allocated based on needs identified in conjunction with community partners. Regions will focus on three key areas to address underlying factors associated with racial disparities and economic empowerment. Specifically, these investments will seek to:
- Advance minority business development
- Increase minority homeownership rates
- Reduce the digital divide by increasing web accessibility in underserved communities
- Investments will also be based on input from Regions associates gathered through listening tours conducted by company leadership during the month of June. These tours provided an opportunity for associates to share ideas, observations and feedback on ways Regions can address social needs.
Regions will continue its financial support and collaboration with organizations including Operation HOPE, the Inner City Capital Connections program,
Historically Black Colleges and Universities(HBCUs), and other organizations that work daily to foster and promote economic empowerment.
“By making significant investments through our financial resources, as well as through volunteerism and community involvement, Regions is working to advance racial equity, help create greater social justice, and deliver meaningful benefits across the communities we serve,” said
Regions maintains an extensive, year-round program encouraging associate volunteerism and community support. For additional details on programs and initiatives championed by Regions and its associates, visit the Community Engagement section of Regions.com.