Arlington, VA (April 10, 2018) — National Cooperative Bank (NCB), a leading financial services company dedicated to providing banking products to cooperatives and socially responsible organizations nationwide, committed $200.4 million to initiatives serving low-to-moderate income communities and new cooperative development during 2017. The capital was provided through direct lending and investments in the following impact sectors:
• Housing
$145.7 million for housing cooperatives, unit loans and affordable housing initiatives nationwide.
• Community Development & Expansion
$13.9 million to finance commercial real estate in low income areas and organizations focused on economic development.
• Food
$14.6 million to expand access to healthy food in low and moderate income communities.
• Small Business
$11 million to support small businesses including our participation in the SBA loan program.
• Healthcare
$11.4 million to support healthcare and aging services.
• Investments & Grants
$3.8 million to support entities serving low to moderate income communities
“The impact we make in communities is what sets National Cooperative Bank apart from other financial institutions,” stated Charles E. Snyder, president & CEO. “In 2017, with our mission lending volume, we helped create 221 new jobs, provided capital to 42 affordable housing communities totaling 5,222 units and provided $9.85 million for new co-op development.”
Please read our full Mission Report.