Provident Bank Supports Local Non-Profits with $88,000 in Grants

Provident Bank Supports Local Non-Profits

Provident Bank, a prominent financial institution based in New Jersey, has recently awarded $88,000 in grants to nine local non-profit organizations. These organizations are dedicated to community development, economic empowerment, and enhancing financial literacy and support for housing in low to moderate-income communities. Since mid-2023, Provident Bank has been actively involved with a range of local non-profits through its Community Partnership Program, emphasizing a collaboration aimed at fostering economic and community development.

Impact of Community Partnerships

Roxanne Camejo, Senior Vice President and Community Development Officer at Provident Bank, expressed her enthusiasm about the initiative, stating, "These grant recipients exemplify the profound impact that strategic community investment can provide. We are excited to support the missions of these organizations and help them expand their reach and enhance their ability to serve their communities." This statement underscores the bank's commitment to supporting local initiatives that have a meaningful impact on residents' lives.

Recipients of the Grants

The collective funding of $88,000 was distributed among various organizations making significant contributions within their communities. These organizations focus on a range of essential services, such as housing assistance, economic empowerment, and educational support.

Among the recipients:

• Housing Community Development Network of NJ Annual Membership: This organization works towards advancing economic justice and fostering public policy participation.
• New Jersey Citizen Action Education Fund: This fund addresses the urgent needs of low-income residents through education and direct services aimed at advancing social and racial justice.
• Urban League of Essex County: Focused on empowering disadvantaged residents, this league provides resources for education, employment, and housing.
• Ironbound Community Corp: This organization fosters community collaboration to empower individuals and families.
• Housing Partnership: Providing education and financial coaching, this organization creates avenues for responsible homeownership.
• Central Jersey Housing Resource Center: They work to resolve local housing issues for families facing difficulties.
• NORWESCAP: Active in Sussex and Morris counties, this organization strengthens communities by creating opportunities.
• Invest Newark: This entity actively propels the local economy and creates sustainable community opportunities.
• New Jersey Community Capital: This organization focuses on strategic investments that create vibrant communities.

About Provident Bank

Established in 1839 in Jersey City, Provident Bank is the oldest community-focused financial institution in New Jersey and operates as a wholly owned subsidiary of Provident Financial Services, Inc., known by its ticker symbol PFS. With total assets of $24.07 billion, the bank offers a variety of financial solutions catering to both business and consumer needs. Customers can take advantage of an extensive branch network across New Jersey and parts of New York and Pennsylvania, along with mobile and online banking capabilities.

The bank also extends fiduciary services and wealth management through its subsidiary, Beacon Trust Company, and provides insurance services via Provident Protection Plus, Inc. For more information about Provident Bank, visit www.provident.bank or call their customer contact center at 800.448.7768.

Frequently Asked Questions

What is the purpose of the grants announced by Provident Bank?

The grants aim to support community development, economic empowerment, and financial literacy among low to moderate-income residents.

How many non-profit organizations received funding?

A total of nine local non-profit organizations received funding through Provident Bank's grant program.

What criteria do organizations need to meet to receive the grants?

Organizations should focus on community service areas such as economic justice, housing assistance, or education for low-income households.

How does Provident Bank support community initiatives?

Provident Bank engages with local non-profits through their Community Partnership Program, providing financial support and resources.

In which sectors do the grant recipients predominantly work?

The grant recipients work primarily in housing, educational support, economic empowerment, and community development sectors.

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