KeyBank Foundation Commits $150,000 to the Food Bank of the Hudson Valley

Rhea-AI Summary

KeyBank and the Food Bank of the Hudson Valley announce a two-year grant to purchase and distribute 44,910 pounds of food per year to Poughkeepsie, Newburgh, and Middletown NY residents, addressing a 23% increase in the need for food since prior to the pandemic and an 11% increase since June 2020.

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• KeyBank's donation will help alleviate hunger and directly impact feeding people in need.
• The grant will provide 37,000 healthy meals per year for needy individuals and families.

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• None.

TARRYTOWN NY / ACCESSWIRE / August 21, 2023 / KeyBank and the Food Bank of the Hudson Valley announce a two-year grant from KeyBank Foundation, the non-profit charitable foundation of KeyBank, that will purchase and distribute 44,910 pounds of food per year to Poughkeepsie, Newburgh and Middletown NY residents. This equates to 37,000 healthy meals per year for needy individuals and families. KeyBank's donation will help the Food Bank and their partner agencies address a 23% increase in the need for food since prior to the pandemic and an 11% since June of 2020.

"With this funding commitment KeyBank will make a very direct impact on feeding people in need and alleviating hunger in Poughkeepsie, Newburgh and Middletown. This is a tremendously thoughtful and meaningful contribution that will fill the shelves of food pantries and soup kitchens and go directly to children, families and others in need," said Tom Nardacci, CEO of the Regional Food Bank of Northeastern New York "We are incredibly grateful for KeyBank's long support and for this generous contribution."

Food Bank of the Hudson Valley and the Regional Food Bank of Northeast New York work in partnership to alleviate hunger and prevent food waste by collecting large donations of edible but unmarketable food from the food industry and distributing it to 1,000 food pantries, soup kitchens and other charitable agencies in 23 counties of northeastern New York. Each year the Food Bank provides this network of agencies with more than 36 million pounds of food and other basic need items and helps feed 300,000 different people. KeyBank Foundation's grant is directed to help feed food-insecure residents in the Poughkeepsie, Newburgh and Middletown communities served by KeyBank.

"At KeyBank, supporting the communities where we do business is at the core of our company's culture," said John Manginelli, KeyBank Hudson Valley/Metro New York Market President. "We are proud to support Food Bank of Hudson Valley and their partner agencies in their work to eliminate hunger and help provide basic needs to our most vulnerable neighbors."

KeyBank Foundation grants are part of a $40 billion commitment for lending and investments across Key's national footprint established in 2017 and supporting affordable housing and community development projects, home, and small business lending in low- and-moderate income communities, and philanthropic efforts targeted toward education, workforce development, and safe, vital neighborhoods.

KeyBank has 42 branches throughout the Hudson Valley, including branches in Poughkeepsie, Newburgh and Middletown.

About the Regional Food Bank of Northeastern New York

The Regional Food Bank of Northeastern New York is a 501(c)(3) not-for-profit organization that collects donated food from the food industry and distributes it to nearly 900 charitable agencies feeding the hungry in 23 counties of northeastern New York. The food provided by the Regional Food Bank helps to feed over 350,000 people each month. In 2022, the organization distributed 47 million pounds of food to our neighbors in need. The Regional Food Bank is a member of Feeding America, the national network of food banks. The organization is supported by foundations, private contributions, and fundraising events. For information on services offered by the Regional Food Bank, call (518) 786-3691 or visit www.regionalfoodbank.net.

About KeyBank Foundation:

KeyBank Foundation serves to fulfill KeyBank's purpose to help clients and communities thrive, and its mission is to support organizations and programs that prepare people for thriving futures. The Foundation's mission is advanced through three funding priorities - neighbors, education, and workforce - and through community service. To provide meaningful philanthropy that transforms lives, KeyBank Foundation listens carefully to understand the unique characteristics and needs of its communities and then backs solutions with targeted philanthropic investments. KeyBank Foundation is a nonprofit charitable foundation, funded by KeyCorp.

About KeyCorp

KeyCorp's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $195 billion as of June 30, 2023. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

Note to Editors: For up-to-date company information, media contacts and facts and figures about Key lines of business, visit our Media Newsroom at Key.com/newsroom.

From left: KeyBank Area Retail Leader Matthew Lake; Chester Branch Manager Denise Moderno-May; Food Bank of the Hudson Valley Director Sara Gunn: Director of Warehouse Operations John Lubbers; and KeyBank Market President John Manginelli. Photo credit: KeyBank

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SOURCE: KeyBank

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