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.
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.
People also read…
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.