Associated Bank announces $ 3.37 billion community engagement
GREEN BAY, Wisconsin, April 7, 2021 / PRNewswire / – Associated Bank, NA today announced its $ 3.37 billion Community Engagement Plan (Plan) to help the communities it serves in Wisconsin, Minnesota and Illinois. This is a 40% increase from the 2018-2020 plan and the organization’s largest commitment to date. The plan sets out the company’s three-year commitment to helping communities grow and prosper through strong financial services, volunteerism and community investment.
The main commitments of Associated include:
- $ 2.4 billion in residential mortgages and $ 15 million in down payment and closing cost assistance to support low to moderate income (LMI) borrowers and minority borrowers and / or majority minority geographies.
- $ 350 million in small business loans to support the growth of businesses with revenues less than or equal to $ 1.6 million, businesses that need loans of $ 1.6 million or less in sectors of LMI or minority census and businesses that take advantage of ASB loan programs
- $ 600 million in community development loans and investments to support economic development, affordable housing, small business growth, and loans to nonprofits that support LMI communities.
- $ 8 million in philanthropic and / or in-kind grants eligible under the Community Reinvestment Act (ARC).
- 14,000 hours of CRA qualified volunteer work.
“Associated Bank is committed to playing an active role in helping our communities grow and prosper. We are proud to continue to increase our efforts and investments for the common good. It’s at the heart of who we are and how we work, ”said Philip B. Flynn, President and CEO of Associated Bank. “We have immersed ourselves in our communities, working with Community Advisory Boards in each of our major markets to address the most systemic economic development and equity issues.
A significant part of Associated Bank is focused on creating a more inclusive and equitable environment by improving the workforce, strengthening its markets and fostering a culture of belonging for its colleagues, clients and communities. that they serve.
The plan is an extension and elevation of a similar three-year plan that Associated Bank committed to in 2018. Some 2018-2020 results include: over 9,500 residential mortgages or approximately $ 1.8 billion in loans helping the ‘IMT and minority families to access homeownership; over $ 570 million in small business loan commitments; and over $ 952 million in community development loans and investments to create affordable housing options, support community services and promote economic development in our markets.
A copy of the 2021-2023 plan is available at https://www.associatedbank.com/pdf/CommunityCommitmentPlan.pdf
ABOUT ASSOCIATED BANC-CORPBanc-Corp Partner (NYSE: ASB) has total assets of $ 33 billion and is one of the top 50 publicly traded U.S. bank holding companies. Headquartered in Green Bay, Wisconsin, Associated is a leading banking franchise in the Midwest, offering a full range of financial products and services from more than 220 banking institutions serving more than 120 communities across Wisconsin, Illinois and the Minnesota, and commercial financial services in Indiana, Michigan. , Missouri, Ohio and Texas. Associated Bank, NA is an Equal Housing Lender, Equal Opportunity Lender, and Member of the FDIC. More information on Associated Banc-Corp is available at www.associatedbank.com.
Media contact: Jennifer KaminskiVice-president | Senior Public Relations Manager920-491-7576 | [email protected]
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SOURCE Partner Banc-Corp