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National Cooperative Bank Awards $125,000 in Grants to Three Cooperatives Serving Low-Income and BIPOC Communities

EB PREC CRA Grant PR photo-1Arlington, VA (March 15, 2022) – National Cooperative Bank (NCB), a leading financial services company dedicated to providing banking products and services to cooperatives, their members, and socially responsible organizations nationwide, recently awarded $125,000 to three co-op organizations to advance the mission of cooperative development by serving low-income and BIPOC communities.

NCB is pleased to support the following cooperatives:

The Drivers Cooperative (TDC), New York, NY:
NCB awarded a $50,000 grant to The Drivers Cooperative, a driver-owned rideshare cooperative dedicated to transforming the for-hire vehicle industry through worker ownership. With a focus on generating social mobility and closing the racial wealth gap, TDC is also committed to providing accessibility for working people and people with disabilities. TDC has onboarded nearly 1,000 drivers and looks to establish a membership of 5,000 driver-members in their first year of operations making The Drivers Cooperative the largest worker cooperative in the United States.

East Bay Permanent Real Estate Cooperative, Oakland, CA:
NCB awarded a $50,000 grant to the East Bay Permanent Real Estate Cooperative, Inc., an organization creating pathways for residents of Oakland and surrounding communities to organize, finance, acquire, and co-steward land and housing. The East Bay Permanent Real Estate Cooperative seeks to transform the housing system to build collective wealth amongst historically disenfranchised communities while empowering residents through democratic governance.

Main Street Phoenix Workers Cooperative, Boulder, CO:
NCB awarded a $25,000 grant to The Main Street Phoenix Workers Co-op, an organization offering a unique and innovative approach to saving main street businesses affected by Covid-19, such as restaurants, personal care providers, and childcare providers, through ownership through a worker cooperative holding company. The Main Street Phoenix Project aims to build an economic platform for income security, wealth creation, and quality jobs geared toward Black, Indigenous, and other People of Color, women, and undocumented workers.

National Cooperative Bank is proud to support these cooperatives in their mission to promote cooperative development and provide opportunities for low-income and BIPOC communities.

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