KeyBank Foundation's $200K Grants Strengthening Communities

KeyBank Foundation Announces $200,000 CDFI Bicentennial Grants

KeyBank Foundation is delighted to reveal the recipients of its important grant initiative aimed at empowering Community Development Financial Institutions (CDFIs). Through this program, which totals over $5 million, KeyBank is strengthening communities across the nation by focusing on essential areas such as affordable housing and small business growth.

The Impact of CDFIs

Community Development Financial Institutions play a pivotal role in fostering economic opportunity and resilience throughout the communities they serve. By addressing gaps in affordable housing and financial services, these organizations are driving significant change and opening doors for countless families and individuals.

The KeyBank Foundation's $200,000 donor-advised fund will also ensure that all communities engage in this vital celebration, particularly in areas where no eligible grant proposals were submitted. This fund acts not only as financial support but as a commitment to community engagement and improvement.

KeyBank’s Commitment to Community Development

In expressing gratitude for the grant recipients, Chairman and CEO of KeyCorp, Chris Gorman, remarked, "We are thrilled to announce the awardees of KeyBank's CDFI grant program. Their work symbolizes a true investment in community. These awards represent more than just financial contributions; they demonstrate our partnership and belief in what can be achieved when people work collectively to uplift their communities."

Recognition of Awardees

Through this bicentennial celebration, KeyBank will take an active role in recognizing awardees in communities nationwide. This engagement intends to reinforce the collaborative spirit that flourishes within the communities served by KeyBank, strengthening essential ties and partnerships.

"Our purpose is simple yet profound: to help our clients and communities thrive," Gorman continued. "This initiative stands as a testament to that purpose, showcasing how we are investing in real change and opportunity for countless individuals. Each CDFI is pivotal, expanding access and opportunities in every corner of America. We are excited to celebrate and join forces with them as we honor our legacy of service and commitment to communities."

Exciting Developments

During the grant announcement, Eric Fiala, Chief Corporate Responsibility Officer at KeyBank and CEO of KeyBank Foundation, shared his enthusiasm about the ongoing partnerships with CDFIs, stating that they are instrumental in expanding opportunities and access daily. The impact these institutions have on their communities cannot be overstated, and it’s an honor for KeyBank to collaborate closely with them during this significant milestone.

List of CDFI Grant Awardees

The KeyBank Foundation proudly recognizes the following Community Development Financial Institutions among this year’s grant recipients:

• Western Reserve Community Fund
• Cook Inlet Lending Center
• Community Loan Fund of the Capital Region
• Launch New York, Inc.
• Indianapolis Neighborhood Housing Partnership, Inc.
• Freedom Equity Inc
• Cincinnati Development Fund, Inc.
• Cleveland Development Advisors Community Reinvestment Fund, Inc.
• Community Enterprise Development Services
• Capital for Change
• Dayton Region New Market Fund
• Community First Fund dba Finanta
• Local Initiatives Support Corporation
• NewWest Community Capital, Inc
• Coastal Enterprises Inc
• Invest Detroit Foundation
• Portland Housing Center
• Neighborhood Housing Services of Rochester, Inc. (NHSR)
• Home Headquarters Inc
• Community Development Fund of Utah
• Rutland West Neighborhood Housing Services inc. dba Cornerstone Housing Partners
• Seattle Economic Development Fund
• Renewable Manufacturing Gateway dbs Community Growth Fund

KeyBank Foundation

The KeyBank Foundation is a nonprofit charitable entity dedicated to enhancing financial well-being, education, and community development. Its mission focuses on strategic philanthropy aimed at fostering thriving communities and driving meaningful, long-lasting change.

About KeyCorp

Marking its bicentennial in 2025, KeyCorp has proudly served clients and communities for 200 years. As one of the largest bank-based financial services companies in the U.S., KeyBank has approximately $185 billion in assets, delivering essential services through a network of 1,000 branches and 1,200 ATMs across 15 states.

Frequently Asked Questions

What is the purpose of the KeyBank Foundation grants?

The grants aim to enhance and support Community Development Financial Institutions, focusing on community development and affordable housing.

How much funding has KeyBank announced for CDFIs?

KeyBank has announced over $5 million in funding for CDFIs nationwide.

Who will recognize the grant recipients?

KeyBank leaders, including CEO Chris Gorman, will visit communities to recognize the grant recipients alongside other stakeholders.

How does KeyBank define its community commitment?

KeyBank believes its commitment goes beyond geography; it encompasses meaningful relationships and collective progress.

What type of organizations benefit from these grants?

Organizations benefiting from these grants include Community Development Financial Institutions that focus on affordable housing and economic inclusion.

About The Author

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