KeyCorp - KEY STOCK NEWS

KeyBank Community Development Lending and Investment (CDLI) announces two strategic appointments to strengthen its team. Eileen Tran joins as a LIHTC equity originator for the West region, bringing 14 years of affordable housing experience from Wells Fargo. Joseph Jones joins as Tax Credit Syndications fund manager, with over 14 years of experience from Enterprise Community Partners. Both appointments support KeyBank's commitment to expanding affordable housing nationwide. KeyBank has approximately $190 billion in assets and maintains an outstanding record with 11 consecutive 'Outstanding' Community Reinvestment Act ratings.

KeyBank and the Edna Martin Christian Center (EMCC) collaborated to pack 10,000 meals for Indianapolis families in need as part of the Million Meals Movement initiative. The meals will be distributed through EMCC's food pantry, which serves the Martindale-Brightwood area and provides essential food items and household necessities. The pantry operates Monday through Friday from 1 to 3 p.m., accepting donations during weekday hours from 9 a.m. to 4 p.m. The Million Meals Movement has packed over 36 million meals across Indiana since 2007.

KeyBank and KeyBank Foundation announced a $390,000 investment in Dayton's Preschool Promise Inc. to enhance its Promise Scholars program. The funding will cover up to $5,000 in tuition costs per semester for early childhood educators to earn credentials debt-free over the next four years. The program aims to address the early educator workforce crisis and improve classroom instruction quality.

The initiative will implement three key strategies: creating high school pathways to early learning programs, establishing a Registered Apprenticeship program with community colleges, and leveraging government workforce development funding. Additionally, the program will provide computers to students lacking technology access, particularly benefiting first-generation and returning college students.

KeyCorp (NYSE: KEY) has announced a reduction in its prime lending rate from 8.00% to 7.75%, effective November 8, 2024. The company, headquartered in Cleveland, Ohio, manages assets of approximately $190 billion as of September 30, 2024. KeyCorp operates through KeyBank National Association across 15 states with roughly 1,000 branches and 1,200 ATMs, providing deposit, lending, cash management, and investment services. Additionally, through KeyBanc Capital Markets, the company offers corporate and investment banking products to middle market companies.

KeyCorp (NYSE: KEY) has announced the cancellation of its presentation and webcast at the BancAnalysts Association of Boston Conference, originally scheduled for November 8, 2024, at 10:35 a.m. ET, due to walking pneumonia. The company, with assets of approximately $190 billion as of September 30, 2024, operates through KeyBank National Association across 15 states with around 1,000 branches and 1,200 ATMs, providing deposit, lending, cash management, and investment services.

KeyBank and KeyBank Foundation announced a $300,000 investment in Ann Arbor's Avalon Housing to enhance supportive services for tenants at risk of housing instability. The funding will support intensive case management services, helping tenants navigate care systems and achieve long-term stability. Avalon Housing, using the Housing First approach, maintains a 95% housing retention success rate. The organization currently manages 29 sites in Ann Arbor, Dexter, and Chelsea, with 150 new units in development. This investment aims to address the increasing homelessness crisis in Washtenaw County while providing residents with access to jobs, education, and healthcare resources.

KeyBank Foundation has awarded a $150,000 Community Impact grant to Springfield Rescue Mission (SRM) to support their Workforce Development Outreach program. The grant, payable over two years, will help match mission residents with potential employers while providing training and support for sustainable employment. The funding will create a new Liaison position to coordinate between employers, employees, and SRM's case management team. The initiative is part of KeyBank's $40 billion commitment established in 2017 for community development, lending, and investments across its national footprint.

KeyBank has awarded a $150,000 grant to Covenant House Alaska (CHA) to fund a pilot prevention program targeting youth in child welfare, foster care, and juvenile justice systems. The initiative aims to provide comprehensive support including safe housing, life skills training, and workforce preparation. As the largest provider for homeless youth in southcentral Alaska, CHA will focus on career exploration, job placement, and ongoing mentorship to help vulnerable youth achieve stability and economic mobility.

New Reach has received a $300,000 Community Impact Grant from KeyBank Foundation to support their FISH food security program in New Haven. The grant, distributed over three years, will help stabilize operations and core expenses for FISH, which delivers groceries to homebound residents. FISH serves over 1,200 residents from more than 800 households monthly. The program merged with New Reach in 2023, benefiting from their infrastructure and support services. New Reach serves over 5,000 adults and children annually through various crisis and housing programs.