Huntington Announces $20 Billion Community Plan to Help Boost Economic Opportunity Throughout its Seven-state Footprint
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Huntington developed the 2020 Community Plan in cooperation with community organizations throughout the Midwest to ensure the bank's commitment reflects the needs of people and businesses in its footprint. In the next several months, the bank will announce specific initiatives to support small businesses, consumers and communities. The plan will evolve as Huntington continues to listen and take action to meet the changing needs of local communities.
"Huntington is a purpose-driven bank, and our purpose of looking out for people leads us to do more to support underserved people, businesses and communities," said
Huntington's 2020 Community Plan reflects increased investments in the following areas:
Access to Capital: Huntington is investing in small businesses, with a special emphasis on those owned by minorities, women and veterans. The bank's
$7.6 billioncommitment to helping businesses will be bolstered by additional investments in business-planning and educational programs to help bring business owners the relief, recovery and growth they are seeking as the cornerstones of the American economy.
Affordable Housingand Home Ownership: Huntington is expanding lending programs and educational services to support increased home ownership by minority and low- to moderate-income borrowers throughout the Midwest. The bank's $7.5 billioncommitment will enable greater opportunities for first-time home buyers, improve housing security for financially distressed consumers, and create generational wealth building through home ownership. It will also enable home rehabilitation and the refinancing of existing homes to unlock the cash-flow needs of borrowers.
Community Lending & Investment: Huntington recognizes the barriers to banking that exist for some people and businesses, and we are investing
$4.9 billiontoward our communities' efforts related to affordable housing, food security, workforce development and social equity. Huntington believes these areas are fundamental to helping people not only find basic economic security, but also prosper. Huntington also knows that by making our communities stronger, it creates additional opportunities for those that live and work there.
"This plan is the result of extensive listening – listening to our community partners, customers and colleagues to understand their needs and to have robust discussions about how Huntington can best help," Steinour said. "As a regional bank, we know our impact lies in delivering locally. We're privileged to partner with many city and neighborhood organizations and community groups who share our commitment to looking out for people."
"It will take a sustained commitment from all of us, including our financial institutions, to meet the needs of all of our neighborhoods and address racial inequities in healthcare, economic opportunity, and access to safe, affordable housing. I applaud Huntington for working with community organizations throughout
The 2020 Community Plan increases Huntington's commitment by roughly
"We commend Huntington for recognizing the real need for access to capital that remains among low- and moderate-income communities throughout the Midwest," said NCRC CEO
Huntington will work with hundreds of community organizations to implement its 2020 Community Plan.
"We're honored to work with so many partners who share our commitment to building stronger communities," Steinour said. "Together, we can make a meaningful impact and lift up our communities in need to deliver new opportunities for all the people we serve."