KeyBank Made $514 Million In Community Investments In Philadelphia And Eastern Pennsylvania Since 2017
Karen Crane | Regional Communications Manager | 203-789-2752 | email@example.com
KEYBANK MADE $514 MILLION IN COMMUNITY INVESTMENTS IN PHILADELPHIA AND EASTERN PENNSYLVANIA SINCE 2017
KeyBank surpasses five-year goals of its National Community Benefits Plan with more than
$26 billion focused on economic access and equity across the U.S.
PLYMOUTH MEETING, Pa., May 12, 2022 – As announced in KeyCorp’s 2021 Environmental, Social and Governance (ESG) Report released in April, the bank has surpassed the five-year goals of its National Community Benefits Plan, providing more than $26 billion focused on economic access and equity to communities across the country. The scope of these investments and lending included affordable housing, home lending, small business lending, and transformative philanthropy targeted toward workforce development, education, and safe, vital neighborhoods for underserved communities and populations.
In its Philadelphia and Eastern Pennsylvania market, KeyBank has invested more than $514 million in the past five years, including:
- $219 million in affordable housing and community development projects.
- $75 million in small business loans to businesses that are part of low- and-moderate income communities.
- $218 million in mortgage lending to low- and moderate-income communities throughout the market.
- $1.7 million in transformational philanthropic investments in neighborhoods that KeyBank serves.
“KeyBank’s commitment to our clients and communities in the greater Philadelphia area is long-standing,” said KeyBank Market President Robert Kane. “Our Community Benefits Plan defines the work we are doing with community partners to address economic disparity and racial equity across the region, and our community investments are a source of pride for us.”
In addition to the bank’s community investments for the last five years, the 2021 ESG Report highlights expanded commitments from Key for climate stewardship, including Key’s plan to finance or facilitate $38 billion to address climate change and support green initiatives by year-end 2026, and DE&I commitments, including increased representation of people of color in its senior leadership ranks.
For full details on Key’s progress as a responsible bank and corporate citizen, please view the 2021 ESG Report at key.com/ESG.
KeyBank's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $186.3 billion as of December 31, 2021. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.