As part of their upcoming acquisition of MUFG Union Bank, U.S. Bancorp has partnered with the National Community Reinvestment Coalition (NCRC) and the California Reinvestment Coalition (CRC) to put together a 5-year community benefits plan. The plan focuses on supporting equitable access to capital for low- and moderate-income communities and communities of color.
CBN Members Partner on Senior Housing Project in Bevo Mill
Image published by the St. Louis Post-Dispatch and provided to them by Midwest BankCentre; design is by fellow CBN member Rosemann & Associates.
Midwest BankCentre is donating its current property at the intersection of Gravois Avenue and Morganford Road, land worth $1.6 million, to Tower Grove Neighborhoods CDC for a 53-unit affordable housing project, Crossroads Senior Living at Bevo Mill. TGNCDC is also aiming to work with the Missouri Housing Development Commission, St. Louis Affordable Housing Commission, St. Louis Community Development Administration, the Federal Home Loan Bank of Cincinnati, and fellow CBN members the St. Louis Equity Fund and U.S. Bank on the project’s financing package. If the project receives approval for tax credits and other financing assistance, it’s slated to be complete by the end of 2022.
U.S. Bank CDC Finances $50 Million in Capital to CDFIs to Help Small Business Impacted by COVID-19
U.S. Bancorp Community Development Corporation (USBCDC), the tax credit and community investment subsidiary of U.S. Bank, has announced it’s providing $50 million in capital to seven Community Development Financial Institution (CDFI) customers across the country so that they can fund small business impacted by the COVID-19 pandemic.
