CIBC';s dedication to affordable housing recognized with Corporate Partner of the Year award for second time

Rhea-AI Summary

CIBC US has been named Corporate Partner of the Year by The Housing Partnership for its dedication to affordable housing. This recognition, awarded for the second time, highlights CIBC's commitment to providing homebuyer education, counseling, and down payment assistance to low- and moderate-income families.

Through its partnership, CIBC has significantly impacted many families by offering essential resources to navigate the homebuying process, including critical home improvement products and services.

Steve Bahru, a senior community lender at CIBC, has been instrumental in this success, conducting financial literacy and homebuyer seminars for over a decade.

This award underscores CIBC's mission to ensure everyone has a secure place to call home.

Positive

• CIBC received the Corporate Partner of the Year award for the second time.
• CIBC provides homebuyer education, counseling, and down payment assistance to low- and moderate-income families.
• CIBC's partnership with The Housing Partnership has made a significant impact on many families.
• The award highlights CIBC's dedication to affordable housing.
• CIBC's home improvement products assist families in enhancing their living spaces.
• Steve Bahru, a senior community lender at CIBC, has conducted seminars for over a decade.

Negative

• No specific financial benefits or metrics from these efforts were disclosed in the PR.
• The announcement does not provide concrete data on the number of families helped or the success rate of the programs.
• There’s no mention of how this recognition impacts CIBC's financial performance or stock prices (symbol: CM).

CHICAGO, June 10, 2024 /PRNewswire/ - CIBC US today announced that it has been named Corporate Partner of the Year by The Housing Partnership for its commitment to providing homebuyer education, counseling, down payment assistance and home improvement solutions to low- and moderate-income families.

The Housing Partnership, which was established in 1998 and holds the Community Housing Development Organization designation, works to provide affordable housing options and promote community development, ensuring that all residents have access to safe and stable homes. This HUD-approved housing counseling agency is one of the primary housing agencies in the St. Louis Metropolitan, servicing and facilitating first time homebuyers' education, down payment assistance and residential development services.

"At CIBC, we believe that everyone deserves the security and comfort of a place to call home," said Amy Yuhn, Head of US Personal and Community Development Banking at CIBC. "Receiving the Corporate Partner of the Year award from The Housing Partnership highlights CIBC's dedication to helping families achieve their dream of homeownership."

Through its strong relationship with The Housing Partnership, CIBC has been able to make a significant impact in the lives of many families. The bank has provided essential resources that empower families with the knowledge and support they need to navigate the homebuying process successfully, including down payment assistance programs that have helped homeownership become more accessible for those facing financial barriers.

CIBC's home improvement products and services have also played a vital role in assisting families in enhancing their living spaces. By connecting homebuyers with CIBC's home improvement resources, the bank has helped families finance and pay for critical home repairs and renovations.

This is the second time CIBC has received the Corporate Partner of the Year recognition from The Housing Partnership, with the first accolade awarded in 2021. Steve Bahru, senior community lender at CIBC Bank USA, has been instrumental in this partnership, conducting financial literacy and homebuyer seminars with the organization for more than a decade.

"Through my work with The Housing Partnership, I have had the privilege of assisting first-time homebuyers by connecting them with the right sources of education to foster their overall financial well-being and help them reach their ambitions," said Bahru.

About CIBC

CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. CIBC offers a full range of advice, solutions and services in the United States, across Canada and around the world. In the US, CIBC Bank USA provides commercial banking, private and personal banking and small business banking solutions and CIBC Private Wealth offers investment management, wealth strategies and legacy planning. Visit us at cibc.com/US.

Member FDIC and Equal Housing Lender. Loans are subject to credit approval. The CIBC logo is a registered trademark of CIBC, used under license. Investment Products Offered are Not FDIC-Insured, May Lose Value and are Not Bank Guaranteed.

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SOURCE CIBC

FAQ

What award did CIBC receive for its affordable housing efforts?

CIBC received the Corporate Partner of the Year award from The Housing Partnership.

How has CIBC contributed to affordable housing?

CIBC has provided homebuyer education, counseling, and down payment assistance to low- and moderate-income families.

Who at CIBC played a key role in their affordable housing efforts?

Steve Bahru, a senior community lender at CIBC, has been instrumental by conducting financial literacy and homebuyer seminars for over a decade.

What specific services has CIBC offered to support homebuyers?

CIBC has offered homebuyer education, counseling, down payment assistance, and home improvement products and services.

When was CIBC previously recognized by The Housing Partnership?

CIBC was previously recognized with the Corporate Partner of the Year award in 2021.