National Cooperative Bank (NCB), a leading financial services company dedicated to providing banking products to cooperatives and socially responsible organizations nationwide, committed $558 million to initiatives serving low-and moderate-income communities and new cooperative development during 2024.
NCB’s mission is to support and be an advocate for America’s cooperatives and their members, especially in low-income communities, by providing innovative financial and related services. The capital was provided through direct lending and investments in the following impact sectors:
- Housing $342.7 million for affordable cooperative housing and mortgage loans nationwide.
- Credit Unions $49.7 million to low-income or community development credit unions.
- Food $2.0 million to expand access to healthy food in communities.
- Hardware $6.0 million to support hardware retailers nationwide.
- Health Care $42.7 million to support healthcare and aging services.
- Non-profit & Community Development $26.1 million to finance commercial real estate and organizations focused on economic development.
- Renewable Energy $81.2 million to finance commercial and community solar panel projects.
- Small Business $4.8 million to support small businesses.
In addition, NCB provided $2.8 million in contributions, investments and grants to support entities serving cooperative and community development.