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National Cooperative Bank Commits $232 Million to Initiatives Serving Low to Moderate Income Communities in 2012

Washington, DC (April 22, 2013) — National Cooperative Bank (NCB), a leading financial services company dedicated to providing banking products to cooperatives nationwide reported during 2012, it committed and deployed $232 million to initiatives serving low and moderate income communities in the following impact sectors: 

Housing 

$155.4 million for housing cooperatives, mortgages and share loans and affordable housing initiatives nationwide.

Business Cooperatives 

$35.2 million to support independent business owners. 

Health Care 

$11 million to preserve and expand affordable healthcare. 

Community Development & Expansion 

$21.3 million to finance community organizations focused on economic development. 

Small Business 

$7.1 million to support small businesses including our participation in the SBA loan program. 

Investments & Grants 

$1.5 million to support entities serving low to moderate income communities.  

Renewable Energy  

$500,000 to fund solar energy system serving low to moderate income communities.  

“We are extremely proud to report another successful year for NCB’s impact banking efforts. As a mission focused institution, we have an uncommon mandate to ensure our efforts benefit those most in need, and we’re committed to dedicating even more resources to underserved communities and cooperative expansion initiatives in the coming year,” said Charles E. Snyder, President and CEO of National Cooperative Bank.   

  

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About NCB: 

NCB is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. Headquartered in Washington, DC, the Bank has offices in Alaska, California, New York, Ohio and Virginia. To learn more, visit www.ncb.coop, National Cooperative Bank on Facebook, or on Twitter @coopbanking.  


The NCB Financial Group consists of the Congressionally-chartered National Consumer Cooperative Bank (NCCB) and NCB, FSB, a federally insured savings bank wholly owned by NCCB. The NCB Financial Group provides financial products and services for the nation’s cooperatives, their members, and socially responsible organizations.