How KeyBank Helps Communities - Including Buffalo
Everyone wants to manage their money better and save, so I'm embarking on a series of interviews with KeyBank about financial fitness. You can catch them on air between 10 am and 2 pm each Thursday or online HERE.
This week, I'm focusing on how KeyBank invests its resources. I'm joined by Kawanza Humphrey, KeyBank's regional corporate responsibility officer, to talk about a recent announcement KeyBank made on a new plan that will lead to more investment in Buffalo and all places KeyBank does business.
Can you tell us about this big announcement?
KeyBank is proud to be extending and expanding our National Community Benefits Plan, committing $40 billion in investment across our national footprint. This comes as we met and exceeded our initial $16.5 billion commitment that we began in 2017 after we purchased First Niagara Bank.
What is the National Community Benefits Plan?
It's a plan to support small business and home lending in low- and moderate-income communities — affordable housing and community development initiatives and philanthropic efforts targeted toward workforce development and creating safe and stable neighborhoods.
How much has KeyBank invested in Buffalo as part of this plan?
Since 2017, we've invested more than $729 million in the Buffalo market alone, including more than $420 million in small business and mortgage loans to low- and moderate-income individuals. KeyBank has provided more than $28 million in philanthropic efforts.
And you also opened a new branch here, is that right?
Yes, that's our biggest commitment. In June 2019, we opened out new East Delavan branch located at 752 East Delavan near Grider. We are so proud to make this investment in Buffalo's East Side.