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$300,000 Investment From KeyBank To Fund Transformative Financial Wellness Program at New RecycleForce Facility

$300,000 Investment From KeyBank To Fund Transformative Financial Wellness Program at New RecycleForce Facility

Published 12-14-22

Submitted by KeyBank

KeyBank and RecycleForce employees shown holding the $300,000 grant.

KeyBank is making a $300,000 investment to help RecycleForce continue its work of creating a stronger civil society by providing formerly incarcerated people opportunities to reintegrate into the community. This investment is part of KeyBank’s $40 billion National Community Benefits Plan, which helps communities reach social, economic and racial equity, and will support the opening of the KeyBank Financial Wellness classroom which will be housed in the new RecycleForce headquarters. Located on the east side of Indianapolis, the facility is scheduled to open in 2023.

“All of us at KeyBank are incredibly proud to support RecycleForce and the work they do to provide hope and opportunity through job training, and create a stronger, more sustainable society through recycling,” said Juan Gonzalez, KeyBank Central Indiana Market President. “This funding will have a transformative effect on the clients RecycleForce serves and provide them with resources and information that will help put them and their families on a path to self-sufficiency and success.”

RecycleForce, a 501(c)3, provides job training and opportunities to formerly incarcerated people while improving the environment through electronics recycling. Since 2006, the nonprofit has helped thousands rebuild their lives through on-the-job and classroom training, social supports and job placement while safely recycling more than 100 million pounds of electronic waste.

“The RecycleForce team is excited to receive this grant from the KeyBank Foundation and appreciate their dedication to our mission to serve the formally incarcerated as they reenter our communities and the workforce,” said Gregg Keesling, President of RecycleForce. “The grant funds will help our organization continue to serve our clients by providing them with a hub where their learning can extend beyond the warehouse floor. This crucial funding will outfit not one but two spaces at our new home in Sherman Park, and it is thanks to our partnership and friendship with KeyBank!”

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The KeyBank Financial Wellness classroom will have 1-to-1 technology for both staff and clients, featuring fixed dry erase boards, smart screens and more for effective lesson delivery. Inside the new headquarters and classroom, RecycleForce is aiming to serve at least 600 individuals annually, double the amount they serve currently. Their goal is for 50% of program participants to work with a staff member on at least one activity to increase their financial health including but not limited to: opening a bank account, developing a budget and implementing a plan to increase credit scores. In 2021, KeyBank teammates have taught classes on the following topics at RecycleForce:

  • Understanding Credit
  • Home Ownership
  • Protecting your Identity
  • Saving & Investing
  • Basics on Interest Rates

Since 2017, Key has invested more than $838 million in Central Indiana through its National Community Benefits Plan in areas like affordable housing and community development projects, mortgage and small business lending to low-and moderate-income individuals and communities, and transformative philanthropy.

Learn more about KeyBank's commitment to helping clients and communities thrive

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KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $176.2 billion at March 31, 2021. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,100 branches and more than 1,400 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit KeyBank is Member FDIC. 

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