Arlington, VA (February 12,
2014) — National Cooperative Bank (NCB), a leading financial services company
dedicated to providing banking products to cooperatives nationwide, committed
$379 million to initiatives serving low and moderate income communities during
2013. The resources were deployed in the following impact sectors:
Housing$258.7 million for housing
cooperatives, mortgages and share loans and affordable housing initiatives
$37.3 million to support independent business owners.
Care$14.5 million to preserve and expand
Development & Expansion
$43.1 million to finance community organizations focused on economic
$8 million to support small businesses including our participation in the SBA
Investments & Grants
$1.8 million to support entities serving low to moderate income communities
$15.6 to fund solar energy system serving low to moderate income communities.
“In 2013, we set new records in
lending activity to low and moderate income communities are proud to have expanded
our new cooperative development by $17 million, a 64 percent increase from the
previous year,” said Charles E. Snyder, President and CEO of National
Cooperative Bank. “As a mission focused institution,
we have an uncommon mandate to ensure our efforts benefit those most in need,
and we’re committed to dedicating even more resources to these communities and
cooperative expansion initiatives in the coming year.”
NCB is dedicated to strengthening communities
nationwide through the delivery of banking and financial services, complemented
by a special focus on cooperative expansion and economic development.
Headquartered in Washington, DC, the Bank has offices in Alaska, California,
New York, Ohio and Virginia. To learn more, visit www.ncb.coop, National Cooperative Bank on Facebook, or on Twitter
The NCB Financial Group consists of
the Congressionally-chartered National Consumer Cooperative Bank (NCCB) and
NCB, FSB, a federally insured savings bank wholly owned by NCCB. The NCB Financial
Group provides financial products and services for the nation’s cooperatives,
their members, and socially responsible organizations.