KeyBank Foundation Allocates $5.4 Million to Support Community Development Initiatives
KeyBank Foundation Announces Recipients of CDFI Bicentennial Grants
On July 28, 2025, KeyBank Foundation proudly revealed the selected recipients of its special grant initiative aimed at boosting Community Development Financial Institutions (CDFIs) across the United States. This significant program allocates a total of $5.4 million to further both affordable housing and small business growth initiatives throughout the 27 markets served by KeyBank.
In marking its bicentennial anniversary, KeyBank is committed to community development. The grant program specifically focuses on CDFIs that are tackling local challenges with innovative solutions. In areas where no qualifying proposals were submitted, KeyBank intends to set up a $200,000 donor-advised fund to ensure participation from all its communities in this momentous commemoration.
The Impact of CDFIs
The CDFI grant recipients specialize in various sectors, including economic inclusion, workforce development, sustainable housing, and revitalization of neighborhoods. By providing essential funding to these organizations, KeyBank is fostering substantial community-driven improvements. The recipients are praised for their grassroots efforts to enhance the lives of individuals in their communities.
Chris Gorman, Chairman and CEO of KeyCorp, expressed his enthusiasm about recognizing the awardees' contributions, saying, "Their work embodies what it means to truly invest in communities, and we are honored to acknowledge their impact through our bicentennial celebration. These awards represent more than mere financial assistance; they reflect partnerships and the belief in the potential of collaborative efforts to uplift communities."
In addition to the funding, KeyBank emphasizes its commitment to nurturing relationships within the communities served. Eric Fiala, Chief Corporate Responsibility Officer and CEO of KeyBank Foundation, articulated the philosophy underpinning their initiatives: "At Key, we believe that the essence of community extends beyond geography; it revolves around building robust relationships and collectively making progress. These CDFIs operate daily, expanding access and opportunities for all. It’s a privilege to collaborate with them during this milestone occasion."
Celebrating the Bicentennial
As part of the bicentennial celebrations, KeyBank executives, including CEO Chris Gorman, will travel to various communities to honor the grant recipients. These engagements aim to highlight the meaningful effects of the awards while strengthening KeyBank's connections with its clients and community partners.
The grant program has announced an impressive roster of awardees designed to address community needs through specialized funding. The selected CDFI organizations include those from diverse regions, such as:
- - Akron/Canton/Mahoning Valley: Western Reserve Community Fund
- - Alaska: Cook Inlet Lending Center
- - Albany: Community Loan Fund of the Capital Region
- - Buffalo: Launch New York, Inc.
- - Cleveland: Cleveland Development Advisors Community Reinvestment Fund, Inc.
- - And many more across the nation.
To further commemorate its bicentennial, KeyBank will also set up Community Development funds contributing $200,000 each in multiple locations, including Florida and Northern Indiana, among others.
About KeyBank Foundation
KeyBank Foundation, a nonprofit charitable organization, actively supports initiatives that aim to enhance financial health, education, and community infrastructure. Through its focused philanthropy, the Foundation aspires to build vibrant communities and initiate impactful change that lasts.
About KeyCorp
Celebrating 200 years in 2025, KeyCorp remains a significant player in banking and financial services from Maine to Alaska. Headquartered in Cleveland, Ohio, KeyBank operates extensive financial services with a network of around 1,000 branches and approximately 1,200 ATMs. The firm also offers corporate and investment banking products directed at middle-market enterprises.
For additional information about KeyBank and its bicentennial efforts, please visit the KeyBank Heritage Center.
Topics Financial Services & Investing）
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