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My Walkabout: KeyBank intends to push $16.5 million to the down-money teams

My Walkabout, July 4, 2022, KeyBank intends to push $16.5 million to the down-money teams

Key’s preparations are part of a binding agreement on National Community Reinvestment Coalition, that has over 600 community communities one offer entry to basic financial properties, sensible homes and occupations invention getting functioning group.

  • $5 million inside financial financing inside lowest- to help you modest-income organizations and you will individuals;
  • $2.5 billion during the business and you can ranch financing, aiimed at reasonable- so you’re able to moderate-earnings urban and you can rural groups;
  • $8.8 million into the neighborhood advancement financing and you can resource commitments;
  • $step 3 mil into the an enthusiastic ”inent of financial functions to have underserved organizations and you can communities to fit KeyBank’s established products here.
  • $175 billion inside philanthropic expenditures getting training and you can employees innovation. This can be from the KeyBank Basis.
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Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

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