KeyBank made $127 million in community investments since 2017

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KeyBank made $127 million in community investments since 2017

Thu, 05/12/2022 - 9:59am -- tim

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.    

Vermont Business Magazine 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 Vermont market, KeyBank has invested more than $127 million in the past five years[1], including: 

  • $75 million in affordable housing and community development projects.
  • $14 million in small business loans to businesses that are part of low- and-moderate income communities.
  • $37 million in mortgage lending to low- and moderate-income communities throughout the market.
  • $850 thousand in transformational philanthropic investments in neighborhoods that KeyBank serves.

“KeyBank’s roots in Vermont are deep, and our support to the clients and communities we serve is a source of pride for us,” said KeyBank Market President Don Baker. “Our Community Benefits Plan defines our commitment and sets the course for the work we do in partnership with local community leaders and organizations to address the pressing issues of economic disparity and racial equity.”

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.

[1] From January 1, 2017 to December 31, 2021

ABOUT KEYBANK

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.

BURLINTON, Vt., May 12, 2022 –​ KeyBank