Economic Empowerment CSR News

Truist Donates $40 Million to Launch Innovative Nonprofit Fund Supporting Ethnically, Racially Diverse and Women-Owned Small Businesses

Commitment to the CDFI sector designed to significantly increase investment in communities and entrepreneurs that have experienced decades of underinvestment
Press Release

CHARLOTTE, N.C., September  23, 2020 /3BL Media/ – Truist Financial Corporation (NYSE: TFC) today announced a $40 million initial donation to help establish CornerSquare Community Capital, a new national nonprofit fund that will support selected community development financial institutions (CDFIs) through the purchase of 25% loan participations.

The Economic Costs of Structural Racism Are Too High to Ignore

Blog

By Marla Blow, Senior Vice President of Social Impact, North America, Mastercard Center for Inclusive Growth

Inclusive growth ensures that the benefits of a growing economy extend to all segments of society, and research suggests that productivity is determined less by a person's skills and abilities, and more by their access to the vital networks that power the modern economy. But access to these physical, virtual and social networks is not equally available, and Black people have been deliberately excluded from these networks.

Climate Week: Our Commitment to Combatting the Climate Crisis

By Sri Shivananda
Article

The consequences of global climate change are not a distant problem. They are real and plainly visible today. Raging wildfires are once again devastating forests across the Western United States, with smoke spreading east across the continent, causing unhealthy or hazardous air quality for millions. Just last month, monsoons wreaked havoc in India as a year’s worth of rain fell in just one month. History shows that it is the world’s poorest and most disadvantaged communities that bear the brunt of the financial blow that often accompanies climate events.

Mastercard Pledges $500 million to Help Close Racial Wealth and Opportunity Gap for Black Communities Across America

Press Release

Furthering longstanding financial inclusion efforts to bring more people and small businesses into the digital economy, the company will bring equitable financial tools, investment and partnerships to cities across the U.S.

Last-Mile Investment in Malawi: A Whole Planet Foundation Interview with GGEM Farming's Ko Chijota

by Zoe So, Regional Director for Eastern & Southern Africa
Blog

The Whole Planet Foundation team is excited to introduce our new partnership with GGEM Farming, a young social enterprise operating out of Nkhotakota, on the shores of Lake Malawi. GGEM Farming is the first partner we are engaging under a new initiative to make our funding more accessible to early stage, locally-led companies. Such companies often have programs that are informed by deep knowledge of the local context, and the staff are rooted in the communities where they work.

Fifth Third Foundation Powers $1.2 Million Innovation Meets Main Street Program for Black, Women-Owned Entrepreneurs

Press Release

CINCINNATI, September 15, 2020 /3BL Media/ — Fifth Third Bank, National Association, today announced an exciting new $1.2 million program called Innovation meets Main Street: Boosting Black Women-Owned Businesses, a partnership between AEO and LISC powered by Fifth Third Bank.

How You Can Make an Impact with a $10 Donation to Whole Planet Foundation

Multimedia with summary

Whole Planet Foundation is a Whole Foods Market non-profit dedicated to alleviating poverty through microcredit around the globe in countries that supply stores with products.  Currently, that's 25 communities in 19 cities in the Unitest States and 76 other countries. Microcredit is small loans - the current average first loan size is $174 - with no formal contract or collateral, provided to low-income entrepreneurs to create or expand a small business, mostly home-based, for the opportunity to generate income and lift themselves and their families out of poverty. 

Biogen Moves $10 Million To Black-Owned OneUnited, Joining the Fortune 500 Trend To 'Bank Black'

By Jen Wieczner
Article

Moving money to Black-owned or Black-led financial institutions is officially a Fortune 500 trend. Biogen, the Boston-based biotech company working on a treatment for Alzheimer’s disease, is depositing $10 million of its capital into OneUnited, a national Black-owned bank, the company said Thursday morning.

Fifth Third Bank Joins HBCU Partnership Challenge

Press Release

CINCINNATI, September 3, 2020 /3BL Media/ – Fifth Third Bank, National Association, today announced that it has joined the Historically Black Colleges and Universities Partnership Challenge, sponsored by the HBCU Caucus. The bipartisan initiative strengthens public-private investments in HBCUs to ensure their future sustainability, increase career prospects for their students, and advance diversity and inclusion within all sectors of employment.

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