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As Part of Bicentennial Celebration, KeyBank Foundation Launches Grant Program for Community Development Financial Institutions
KEYKeyp(KEY) Prnewswire·2025-04-07 13:06

Core Points - KeyBank Foundation is launching a grant program to strengthen Community Development Financial Institutions (CDFIs) to enhance affordable housing and small business development [1][2] - The program will award 200,000grantstooneexemplaryCDFIineachofKeyBank′s27markets,providingflexiblefundingfortheirbroadermissions[2][4]−CDFIsareessentialforeconomicempowerment,facilitatinghomeownership,businessgrowth,andfinancialstabilityinunderservedcommunities[3]GrantProgramDetails−ThegrantprogramaimstoprovideunrestrictedfundingtosupportCDFIsinexpandingservices,enhancinginfrastructure,anddeepeningcommunityimpact[2][4]−ApplicationsforthegrantsmustbesubmittedbyMay16,withspecificsubmissionrequirementsoutlinedbytheKeyBankFoundation[5]−EligibleapplicantsmustbecertifiedCDFIsingoodstanding,operatingasnonprofitorfor−profitentitiesinKeyBank′sprimarymarkets,withastrongtrackrecordinaffordablehousingorsmallbusinessdevelopment[9]AboutKeyBankandKeyBankFoundation−KeyBankFoundationisanonprofitorganizationfocusedonimprovingfinancialwellness,education,andcommunitydevelopmentthroughstrategicphilanthropy[6]−KeyCorp,theparentcompanyofKeyBank,iscelebratingitsbicentennialin2025,withassetsofapproximately200,000 grants to one exemplary CDFI in each of KeyBank's 27 markets, providing flexible funding for their broader missions [2][4] - CDFIs are essential for economic empowerment, facilitating homeownership, business growth, and financial stability in underserved communities [3] Grant Program Details - The grant program aims to provide unrestricted funding to support CDFIs in expanding services, enhancing infrastructure, and deepening community impact [2][4] - Applications for the grants must be submitted by May 16, with specific submission requirements outlined by the KeyBank Foundation [5] - Eligible applicants must be certified CDFIs in good standing, operating as nonprofit or for-profit entities in KeyBank's primary markets, with a strong track record in affordable housing or small business development [9] About KeyBank and KeyBank Foundation - KeyBank Foundation is a nonprofit organization focused on improving financial wellness, education, and community development through strategic philanthropy [6] - KeyCorp, the parent company of KeyBank, is celebrating its bicentennial in 2025, with assets of approximately 187 billion as of December 31, 2024 [7] - KeyBank operates approximately 1,000 branches and 1,200 ATMs across 15 states, offering a range of financial services including corporate and investment banking products [8]