The American Bankers Association Foundation today named seven banks as 2024 Community Commitment Award winners. The annual awards recognize banks for extraordinary corporate social responsibility efforts in seven specific categories ranging from affordable housing to economic inclusion. The winners will be recognized at ABA’s Annual Convention in New York City on Oct. 29.
The selection committee, made up of independent, national experts in each category, reviewed bank nominations from across the country and chose winners based on specific criteria, including the creativity and thoughtfulness of the bank program. Community Commitment Award winners must embody banking at its best and demonstrate success in measurable terms.
“It’s an honor to recognize this year’s 2024 Community Commitment Award winners for their tremendous dedication to the customers and communities they serve,” said Rob Nichols, ABA president and CEO. “This year’s winners demonstrate how banks of all sizes are thinking outside the box to make a positive difference in their communities. I hope banks across the country will consider replicating some of these innovative programs in their markets where it makes sense.”
The 2024 award winners by category are:
Affordable Housing
Columbia Bank, Fairlawn, N.J. for its Advancing Access program. The special credit program provides access to affordable home loans for majority-minority communities. Borrowers who are eligible can receive discounted rates, grants to assist with closing or down payment costs, private mortgage insurance waivers and flexible underwriting requirements. Within the first year of the program, Columbia Bank made about $65 million in Advancing Access loans and provided over $1.7 million in grant assistance.
Community and Economic Development
Comerica Bank, Dallas, Texas, for its BusinessHQ resource facility. Centered around helping small business owners and local nonprofits in southern Dallas, BusinessHQ offers a meeting space for them to develop and grow. The collaborative facility provides resources ranging from Wi-Fi to video and content conference rooms with green screens. BusinessHQ also hosts programs focused on workforce development, certification trainings, nonprofit board meetings, financial education workshops and others in alignment with CRA-qualified engagement.
Financial Education
Regions Bank, Birmingham, Ala. for its Regions Next Step® program. The program, divided into financial literacy classes for two different audiences, focuses on individuals with cognitive disabilities and those who have been through the criminal justice system. Through a partnership with United Ability, the program brings in specially trained teachers to administer the curriculum to those who are neurodivergent, on the autism spectrum or have other disabilities. Separately, in 2022 and 2023, Regions used its partnership with Metro Reentry to offer more than 700 hours of financial education to individuals in 15 jails, prisons, reporting centers and non-profit organizations, who have a criminal justice-involved history.
Financial Inclusion
Berkshire Bank, Boston, Mass. for its Community Comeback Program. With the help of bankers, government leaders and community stakeholders, the multi-year program helps create new jobs, increase housing, start and expand businesses, address climate change and provide customers with financial education and solutions in low-to-moderate income communities. In the past year alone, the program has helped more than 150,000 people, businesses and non-profit organizations.
Protecting Older Americans
American Riviera, Santa Barbara, Calif. for its Fraud and Financial Exploitation Prevention program. American Riviera has specially trained frontline staff, close working relationships with law enforcement, and their own leadership team members actively participate in preventing elder financial abuse. The bank utilizes online resources such as blogs, podcasts and webinars, its website, client database and social media to further disseminate crucial information and raise awareness for elder financial fraud. They also offer in-person presentations in the elderly community to inform individuals and their families about the signs of financial abuse, protective measures, and steps to take if abuse is suspected.
Supporting Military Families
F&M Bank, Clarksville, Tenn., for its Operation Honor program. Through this program, F&M Bank works with organizations such as Feed the Children, YAIPAK, Operation Stand Down Tennessee and others to fight food insecurity for the military and their families. Throughout the year, F&M also coordinates bi-monthly deliveries of water, laundry detergent, cleaning supplies and hygiene products to residents in need, including military families and during natural disasters. The bank advocates for the military at the national level and sponsors events that raise money for military scholarships.
Volunteerism
Community Bank, N.A., DeWitt, N.Y., for its Community Development program. More than 500 bank employees served on nonprofit boards and committees and in 2023 spent 16,000 total hours volunteering to help customers and their communities through the program. The bank supported more than 2,100 organizations across four states, and branches collected more than 5,600 non-perishable food items for 100 food banks. Community Bank also contributed $3.7 million in donations, grants and sponsorships, nearly a 24% increase in financial contributions from last year.
“We are incredibly proud of these banks and the tremendous difference they’ve made in their communities. They truly represent banking at its best,” said Lindsay Torrico, executive director, ABA Foundation. “In fact, all of this year’s CCA nominees impressed us with their creativity, commitment and willingness to take on difficult challenges in the markets they serve.”
As a part of the annual Community Commitment Award program, the ABA Foundation also honors an individual banker with the George Bailey Distinguished Service Award. The award is given to a non-CEO bank employee who demonstrates outstanding initiative, commitment to their customers and community, and the ability to inspire others. This year’s George Bailey Award winner is Raul Valles of Dallas Capital Bank in Texas. Valles, an Army reservist, was recognized for his ongoing efforts to use his banking experience to provide financial education and support to the military community. Valles will also be recognized at ABA’s Annual Convention on Oct. 29 in New York City.
All nominations for this year’s Community Commitment Awards will be added to the ABA Foundation’s Banks in their Communities searchable database that showcases the corporate social responsibility efforts of banks of all sizes across the country and allows users to search and view program profiles. Winning and honorable mention entries are also included.