December 12, 2019

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Valley Bank Invests $1.6 Billion in Community Building Programs in 2018

Submitted by: Valley National Bancorp

Categories: Corporate Social Responsibility, Research, Reports & Publications

Posted: Oct 29, 2019 – 09:00 AM EST

 

WAYNE, N.J. , Oct. 29 /CSRwire/ - Valley National Bancorp (NASDAQ:  VLY), the holding company for Valley National Bank, has released Success Starts With Our Communities, the bank’s 2018 Corporate Social Responsibility (CSR) Report that underscores Valley’s belief that corporate social responsibility is fundamental to the bank’s culture and purpose. In 2018, Valley invested $1.6 billion to strengthen and support the communities the bank serves, including $459 million for Small Businesses, $374 million for Community Development Lending (CDL), and $187 million for Community Development Investments (CDI), along with over $580 million in Affordable Home Loans.  

Valley focused its 2018 community giving around four key pillars:  

  • Promoting Affordable Homes and providing communities access to the tools they need to realize the dream of home ownership as well as affordable rental homes.

  • Inspiring Innovation & Entrepreneurship by connecting individuals to the training and support they need to obtain meaningful employment and a path forward that will improve their financial lives.

  • Stimulating Economic & Community Development through strong partnerships with nonprofit organizations that tackle issues fundamental to economic mobility to help fuel economic and community progress in low- and moderate-income communities.

  • Living Commitment to Impactful, Local Leadership by understanding the needs of local communities and ensuring that Valley is being responsive, reliable and supportive.   

“With more than 200 locations in New Jersey, New York, Florida and Alabama, Valley has a strong understanding of our local community’s specific and unique needs,” said Bernadette M. Mueller, EVP, Corporate Social Responsibility, Valley Bank. “We are committed to advancing a more diverse and inclusive society by expanding opportunities and supporting equitable financial solutions to give communities the power to grow and prosper.” 

Program highlights from Valley’s 2018 Corporate Social Responsibility Report:

New York 

  • Reconnect Brooklyn is a nonprofit working with young men in Bedford-Stuyvesant to help them get on track for a better life. The bank’s grant funds salaries of young men going through the nonprofit’s mentorship program and supports Reconnect Design, a micro-business that trains men for careers in graphic design. 

  • Junior Achievement’s mission is to inspire young people, grades K-12, to succeed in a global economy.  Valley provides grants and employees volunteer their time across four states to conduct classes in Financial Literacy and Mentorship.

  • Neighborhood Housing Services of Queens (NHS) provides individuals vital education needed to purchase a first home. Valley’s mortgage lending team runs an accelerated education class at the organization’s annual Home Expo.

New Jersey  

  • Morris Habitat for Humanity builds affordable housing in Morris County, New Jersey.  More than 100 Valley employees came out for the Morris Habitat Blitz Build, an ambitious project that built three new homes in just 10 days.

  • Community Access Unlimited (CAU) supports people with special needs in achieving real lives by helping with housing, life skills, employment, money management, socialization and civic activities. Valley provided financing for the purchase of residential buildings and conducted financial literacy programs designed for the CAU community.

  • Hoving Home serves women 18 and over who have been impacted by drug addiction, alcoholism, prostitution or other life-controlling issues. Valley provided a much-needed grant, in-kind donations and financial literacy programs. 

  • Rising Tide Capital helps struggling individuals and communities build strong businesses that transform lives and support sustainable communities. Valley’s grant and employee volunteers supported the creation of a new national headquarters, a Business Academy and the Urban Entrepreneurship Accelerator.

Florida

  • Feeding Tampa Bay provides healthy meals and snacks to 700,000 residents across central Florida. Valley’s grant to benefit “Tater Tot,” a newly refurbished food truck, helped Feeding Tampa Bay deliver nutritious food to children within Tampa’s 10-county footprint.  

  • The Jack & Jill Children’s Center is the oldest nonprofit provider of early childhood education in Broward County. Valley custom-designed an age appropriate financial literacy program and provided volunteers to help the children understand the power of saving and budgeting.   

Alabama

  • Lake Martin Innovation Center was developed when Valley approached the Alexander City Chamber of Commerce to utilize 17,000 square feet of space that was recently vacated for the Chamber’s new headquarters and space to support local business growth. With a nominal rental fee, this innovative agreement now boasts eight full-time tenants leasing space for their start-up businesses, with over 63 jobs created.  

  • The Montgomery Area Food Bank is in Central Alabama. The Valley team sorted 20,000 pounds of food products, which provided thousands of meals for individuals who are “food insecure” within the 12 counties the food bank serves.

About Valley

As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately $32.5 billion in assets. Valley is committed to giving people and businesses the power to succeed. Valley operates over 200 branches across New Jersey, New York, Florida and Alabama, and is committed to providing the most convenient service, the latest innovations and an experienced and knowledgeable team dedicated to meeting customer needs. Helping communities grow and prosper is the heart of Valley’s corporate citizenship philosophy. To learn more about Valley, go to www.valley.com or call our Customer Service Center at 800-522-4100. 

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Valley National Bancorp

 

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