(Courtesy of PNC Financial Services Group)
Our partners help us fulfill our goal of being of service to the community and its
people. Without them we would be unable to achieve much of the work that we do to
help people become more informed and confident home buyers. In this issue, we spotlight one of those partners, PNC Bank.
With over 160 years of experience, 6 million consumer and small business customers
throughout the U.S. and the District of Columbia, and various philanthropy causes,
PNC is a pillar of excellence through customer satisfaction and community outreach.
We would like to highlight, not only the business aspects of the company, but more
importantly, how PNC is giving back to the community it serves.
PNC helps to build strong communities and create financial opportunities for individuals, families and businesses through executive leadership, technical expertise, strategic investments, project financing and employee volunteerism. Specifically, PNC’s Community Development Banking group boosts the quality of life in low-income neighborhoods through affordable housing, economic revitalization and customized financial solutions. The work of Community Development Banking is supplemented by PNC’s Tax Credit Capital Group, which provides expertise and financing through federal tax credit program investments. Flexible loans, public-private partnerships and financial education classes help to revitalize communities in need.
In 2015, PNC’s community development banking investments included:
· $1,093 billion in community development loans
· $386 million in other investments to benefit underserved populations and communities
where PNC does business
· $301 million in equity commitments to construct affordable housing through the
Low-Income Housing Tax Credit (LIHTC) Program
· $117 million to help finance community-supported economic development projects
through the New Markets Tax Credit (NMTC) Program
· $14 million to restore historic properties and return them to productive use through
the Historic Tax Credit Program
PNC appreciates and recognizes the work that non-profit organizations do within
communities throughout the country. The PNC foundation awards these organizations
for their great work while helping them continue their efforts. The foundation awards
agencies that focus on education, childhood education organizations that serve low
and moderate income children, economic development, and arts and culture. The grants
provided to these organizations ensures that they are able to focus less on finding
the means and more on the real goal of helping people.