Arlington, VA (February 19, 2016) — National
Cooperative Bank (NCB), a leading financial services company dedicated to
providing banking products to cooperatives and socially responsible
organizations nationwide, committed $290 million to initiatives serving low-to-moderate
income communities and new cooperative development during 2015. The capital was
provided through direct lending, investments and the facilitation of
creative transactions in the following impact sectors.
$170.3 million for housing
cooperatives, unit loans and affordable housing initiatives nationwide.
Development & Expansion
$56.1 million to finance commercial real estate in low income areas and
organizations focused on economic development.
- Renewable Energy
$33.8 million to fund solar energy systems serving low to moderate income
$10.1 million to expand access to
healthy food in low and moderate income communities.
- Small Business
$9.5 million to support small businesses including our participation in the SBA
$2 million to support businesses owned by Native Organizations.
- Investments & Grants
$8.4 million to support entities serving low to moderate income communities
“In 2015, we further expanded our
lending efforts serving low and moderate income communities,” said Charles E.
Snyder, CEO of National Cooperative Bank. “We also provided $47.6 million for new
cooperative development, primarily in the food and housing sectors and
developed a partnership program with ROC USA and MetLife to bring affordable
homeownership to scale in 20 states through the conversion of manufactured home
communities to cooperative ownership.”
About National Cooperative Bank:
Cooperative Bank 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. NCB provides financial products
and services for the nation’s cooperatives, their members, and socially
responsible organizations. 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.