KeyBank Local Loans and Investments Exceed $1 Billion | Business premises


KeyBank has provided $1.1 billion in loans and investments in the Buffalo area over a five-year period through the end of 2021, the bank said.

The loans and investments were part of a five-year community benefits plan launched by Key in all of its markets, alongside Key’s acquisition of First Niagara Bank.

KeyBank said it invested $1.1 billion locally in the first five years of its community benefits plan. (Photo from News File)

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The bank, in its latest environmental, social and governance report, details its local investments:

• Over $435 million in affordable housing and community development projects.

• Over $212 million in small business loans to businesses in low- and middle-income communities.

• Over $382 million in mortgages to low- and middle-income communities in and around Buffalo.

• Over $38 million in philanthropic investments in Western New York neighborhoods.

Key has extended its community benefits plan for another five years.

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Also in the report, Key pledged to increase the representation of people of color in its leadership ranks by 25% by 2025 and 50% by 2030.

By the end of 2021, the bank was “ahead of pace to achieve its goals,” Key said.


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