Regions Invests $126,000 in Bank Enterprise Award Funding with 17 of its Community Development Partners
BIRMINGHAM, Ala.--(BUSINESS WIRE)-- Seventeen nonprofit organizations will receive Bank Enterprise Award grants from Regions Financial Corporation (NYS: RF) to support their financial education efforts among low-income people and in economically distressed communities.
The Birmingham-based bank, which earned a Bank Enterprise Award of $126,000 from the United States Department of the Treasury's Community Development Financial Institutions Fund, opted to distribute the money to a variety of community organizations operating in the 16-state area Regions serves. Recipients were selected from among 125 that submitted proposals.
"The benefits our community development partners provide through the financial education programs they offer help make life better for low-income people in our communities," said Jon Davies, Head of Community Affairs for Regions. "Regions is proud to support them with this Bank Enterprise Award money as well as through the involvement of Regions associates, who frequently volunteer their time and expertise to help such groups teach financial education programs."
Regions is awarding $26,000 to Jobs for Mississippi Graduates, a nonprofit organization based in Jackson, Miss., that provides financial education to disadvantaged young people in rural areas of the state as part of its high school dropout prevention services and school-to-work-transition training opportunities.
"The dedication and resources committed to us by Regions Bank will aid us in our mission to further reduce the state's alarming dropout rate and in our efforts to attract and retain a quality workforce," said Executive Director Ramona Seabron-Williams. "Jobs for Mississippi Graduates is delighted to have Regions as a corporate sponsor."
Regions is awarding $25,000 to the Jackson Medical Mall Foundation, a nonprofit organization also based in Jackson that promotes health care and economic development benefiting an underserved population in a designated revitalization district.
"This grant allows the Jackson Medical Mall Foundation, in partnership with Regions Bank, to further improve the financial literacy and the quality of life of families living and working within the boundaries of the Jackson Medical Mall District," said Executive Director Primus Wheeler. He proposed using the funds to offer multi-generational financial education programs to low-income patients, consumers, and employees at the medical complex's Thad Cochran Center, which provides physical, psychological, and emotional health care.
In addition, grants of $5,000 each are going to the following organizations to support various financial education efforts such as teaching low-income people how to manage their personal finances better, guiding potential buyers of affordable housing through the process of becoming homeowners, and helping small businesses launch, grow, create jobs, and provide stability in economically distressed areas:
Alabama Coalition Against Domestic Violence, Montgomery, Alabama
Alabama Poverty Project, Birmingham, Alabama
alt.Consulting, Pine Bluff, Arkansas
AIDS Alabama, Birmingham, Alabama
Avenue Community Development Corporation, Houston, Texas
Beyond Housing, St. Louis, Missouri
Communities In Schools of Marietta-Cobb County, Marietta, Georgia
Fair Housing Agency of Alabama, Mobile, Alabama
Indianapolis Neighborhood Housing Partnership, Indianapolis, Indiana
Miami Children's Museum, Miami, Florida
Neighborhood Development Foundation, New Orleans, Louisiana
Public Education Foundation of Marion County, Ocala, Florida
Shepherd House Catholic Charities of Central Florida, Orlando, Florida
Urban League of Greater Chattanooga, Chattanooga, Tennessee
Woodbine Community Organization, Nashville, Tennessee
Investing these funds through nonprofit partners multiplies the impact Regions has on the communities it serves and generates opportunities for low-income people who ordinarily have very limited access to financial education or to banking products and services.
About Regions Financial Corporation
Regions Financial Corporation, with $120 billion in assets, is a member of the S&P 500 Index and is one of the nation's largest full-service providers of consumer and commercial banking, wealth management, mortgage, and insurance products and services. Regions serves customers in 16 states across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,700 banking offices and 2,000 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.
Mel Campbell, 205-264-4551
KEYWORDS: United States North America Alabama
The article Regions Invests $126,000 in Bank Enterprise Award Funding with 17 of its Community Development Partners originally appeared on Fool.com.
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