Community Groups Commend Huntington Bancshares Plan Dayton HRC an Influential Partner in $16.1 Development Plan
Release Date: Monday, May 23, 2016
Contact: Erica Fields, Dayton Human Relations Council, 937-333-1403
Local housing, community development, neighborhood and civil rights groups have commended the $16.1 billion Community Development Plan announced by
The plan was developed in an agreement between Huntington Bancshares and the
undersigned local members and allies of the National Community Reinvestment
Coalition (NCRC). Dayton is expected to benefit substantially from the loans and investments included in this agreement.
Huntington’s Community Development Plan, set to begin in 2017, includes mortgage and small business lending in low- and moderate-income (LMI) communities, community development lending and investments, a philanthropy program, and other services to increase access to financial services in LMI communities and communities of color, such as 10 new branch locations in these areas.
“The Human Relations Council is glad to be included in the process of advocating for additional resources for low-to moderate-income communities in Dayton, Ohio,” said Catherine Crosby, Executive Director of the City of Dayton Human Relations Council. “The resources provided through public benefit agreements increase access to capital and technical assistance to small businesses leading to job creation and retention, non-profit social service support, resources for affordable housing and provides many other opportunities to ensure community assets exist to stabilize vulnerable
Shannon Isom, CEO of YWCA Dayton, said, “Huntington has made a landmark
decision that can change the course of banking relations. We are hopeful and forwardlooking, imagining the quantifiable and positive impact on community and people.”
The Community Development Plan was developed through meetings with NCRC and
over 100 community-based organizations across Huntington’s footprint, including the community organizations listed below.
“The Miami Valley Fair Housing Center welcomes the benefits for low- to moderate income families and communities of color that are represented in this Community Development Plan from Huntington,” said Jim McCarthy, President/CEO. “We need more banks to step up and follow this example to help stabilize our neighborhoods.”
“We commend Huntington for working with local community advocates to reach an agreement that will help many people in working class communities and communities of color build wealth,” said NCRC President and CEO John Taylor.
“This plan lays out activities that will produce the kind of significant public benefit that needs to be created when banking institutions merge. Commitments like this are only possible with strong leadership from the highest levels of institutions, and we applaud Huntington Chairman, President and CEO Stephen Steinour for his leadership in this process.”
“Huntington’s commitment to reinvest in greater Dayton neighborhoods hardest hit by the foreclosure crisis will assist locally funded programming to stabilize these areas and create new affordable housing and small business investment,” added County Corp Vice President for Housing Adam Blake. “We look forward to working with Huntington and other lenders to leverage local resources to restore these communities.”
The Community Development Plan will:
- Fund $5.7 billion in single-family mortgage lending in low- to moderate-income areas.
- Fund $6.6 billion in small business lending including within low- to moderate-income areas.
- Fund $3.7 billion in community development lending and investment targeting affordable housing access and community-based loan funds.
- Fund $25 million of additional grants and philanthropy primarily targeting housing and small business credit service access.
- Create $30 million in further economic impact through support including new branch locations within low- to moderate-income areas and/or majority minority areas; the addition of dedicated community mortgage loan officers; and the formation of a dedicated mortgage processing team to handle unique underwriting opportunities.
The following local organizations participated in meetings with Huntington to develop the community development plan:
Advocates for Basic Legal Equality
City of Dayton Human Relations Council
Citywide Development Corporation
Greater Dayton Premier Management
HomeOwnership Center of Dayton
Miami Valley Fair Housing Center
Miami Valley Housing Opportunities
Miami Valley Urban League
Urban League of Greater Southwestern Ohio
The Omega Community Development Corporation
NCRC and its grassroots member organizations create opportunities for people to build wealth. We work with community leaders, policymakers and financial institutions to champion fairness in banking, housing and business development.
The Human Relations Council works to influence and ensure a culture of fair
treatment, inclusion and equal access to opportunities for all who live, work, play, and gather in the City of Dayton. The Council enforces civil rights; provides business and technical assistance to minority-owned, woman-owned and small disadvantaged businesses; and administers community relations initiatives that promote and maintain peace, goodwill and harmony; assists in reducing inter-group tensions, and ensures equality of treatment and opportunity to all who live, work, play, and gather in the City of Dayton.