SIDNEY — U.S. Bank has announced its second round of Community Possible grants, donating $11.2 million in work grants to nonprofits across the country focused on workforce development, higher education, small business development and financial education.
U.S. Bank’s Community Possible corporate giving and engagement platform focuses on economic development through three pillars: work, home and play. Earlier this year, the bank donated $6.6 million in grants focused on play.
This round of grants includes donations to 10 nonprofits in the Community Banking Northern Ohio Region.
To further its commitment to supporting work and small businesses, U.S. Bank is also introducing a new business referral program which connects small businesses who do not qualify for a loan product to a national network of community development financial institutions (CDFIs).
The new CDFI online referral tool, known as Connect2Capital, was developed by Community Reinvestment Fund, USA (CRF). Connect2Capital will leverage the key role CDFIs play in local communities, providing access to capital and support services for small businesses, the primary engines of employment and economic vitality across the country, and especially in low- and moderate-income communities. The program launched in November.
“At U.S. Bank, we invest our time, resources and passion to build and support vibrant communities that allow every person to work toward their possible,” said Andy Counts, U.S. Bank regional president. “We are focused on economic development, and it starts by supporting nonprofits who help people achieve higher education, become financially literate, secure employment and develop small businesses. An example of our continued effort to support small businesses is the new Connect2Capital tool developed with CRF, which we are excited to roll out soon. Our goal is for even more small businesses to get the access to capital and resources they need to grow and contribute to a healthy community.”
In addition to the foundation grants, U.S. Bank employees also give back in the area of work through volunteerism and pro bono service. In 2016, more than 150,000 individuals were served through 2,850 financial education seminars and online workshops in local communities.