The bank also introduced a loan referral program for small businesses.
MINNEAPOLIS – OCTOBER 31, 2017 – U.S. Bank has announced its second round of Community Possible grants, donating $11.2 million in Work grants to nonprofits across the country focused on workforce development, higher education, small business development and financial education. U.S. Bank’s Community Possible corporate giving and engagement platform focuses on economic development through three pillars: Work, Home and Play. Earlier this year, the bank donated $6.6 million in grants focused on Play.
To further its commitment to supporting work and small businesses, U.S. Bank is also introducing a new business referral program which connects small businesses who do not qualify for a loan product to a national network of Community Development Financial Institutions (CDFIs).
The new CDFI online referral tool, known as Connect2Capital, was developed by Community Reinvestment Fund, USA (CRF). Connect2Capital will leverage the key role CDFIs play in local communities, providing access to capital and support services for small businesses, the primary engines of employment and economic vitality across the country, and especially in low- and moderate-income communities. The program will launch in November.
“At U.S. Bank, we invest our time, resources and passion to build and support vibrant communities that allow every person to work toward their possible,” said Reba Dominski, chief social responsibility officer for U.S. Bank. “We are focused on economic development and it starts by supporting nonprofits who help people achieve higher education, become financially literate, secure employment and develop small businesses. An example of our continued effort to support small businesses is the new Connect2Capital tool developed with CRF, which we are excited to roll out soon. Our goal is for even more small businesses to get the access to capital and resources they need to grow and contribute to a healthy community.”
In addition to the Foundation grants, U.S. Bank employees also give back in the area of Work through volunteerism and pro bono service. In 2016, more than 150,000 individuals were served through 2,850 financial education seminars and online workshops in local communities.
About Community Possible
Community Possible is the corporate giving and volunteer program at U.S. Bank, focused on the areas of Work, Home and Play. The company invests in programs that provide stable employment, a safe place to call home and a community connected through arts, culture, recreation and play. Philanthropic support through the U.S. Bank Foundation and corporate giving program reached $54.2 million in 2016. Visit www.usbank.com/community.
About U.S. Bank
U.S. Bancorp, with 73,000 employees and $459 billion in assets as of September 30, 2017, is the parent company of U.S. Bank, the fifth-largest bank in the United States. The Minneapolis-based bank blends its branch and ATM network with mobile and online tools that allow customers to bank how, when and where they prefer. U.S. Bank is committed to serving its millions of retail, small business, wealth management, payment, wholesale and securities services customers across the country and around the world as a trusted financial partner, a commitment recognized by the Ethisphere Institute naming the bank a 2017 World’s Most Ethical Company. In 2016, U.S. Bank contributed $54.2 million to nonprofit organizations across the country through the U.S. Bank Foundation and corporate contributions. Additionally, employees donated more than 219,000 volunteer hours creating opportunities at work, home and play across the country. Visit U.S. Bank online or follow on social media to stay up to date with company news.
SOURCE: U.S. Bank