National Cooperative Bank (NCB), a leading financial services company dedicated to providing banking products and services to cooperatives, their members and socially responsible organizations nationwide, committed $240.4 million to initiatives serving low-and moderate-income communities and new cooperative development during 2018. The capital was provided through direct lending and investments in the following impact sectors:
$126.2 million for housing cooperatives, unit loans and affordable housing initiatives nationwide.
$58.7 million to low-income or community development credit unions.
$13.5 million to support businesses owned by Native Organizations.
$12.2 million to expand access to healthy food in low-and moderate- income communities.
$10.7 million to support small businesses including our participation in the SBA loan program.
$8.9 million to support healthcare and aging services.
$8.5 million to finance commercial real estate in low-income areas and organizations focused on economic development.
Investments & Grants
$1.7 million to support entities serving low-to moderate-income communities.
“The impact we make in communities is what sets National Cooperative Bank apart from other financial institutions,” said NCB president and CEO Charles E. Snyder. “In 2018, with our mission lending volume, we helped create 277 new jobs, provided capital to 46 affordable housing communities totaling 4,007 units and provided $22.2 million for new co-op development.”
Read more in NCB’s full Mission Report.