KeyBank Supports Pittsburgh-Based Neighborhood Allies To Help Build Financial Stability

Rhea-AI Summary

KeyBank has been supporting Neighborhood Allies, an organization dedicated to community change in the Greater Pittsburgh area. KeyBank has assisted in opening 50 bank accounts for young adults involved in the Allegheny County Children, Youth, & Family services. They have also provided cash assistance and financial education through the Opportunity Passport program. KeyBank's support for Neighborhood Allies began in 2021 with a $400,000 investment from the KeyBank Foundation.

NORTHAMPTON, MA / ACCESSWIRE / July 28, 2023 / At KeyBank our mission is to empower our clients, communities and employees to thrive. That means we're regularly supporting local organizations dedicated to bettering the lives of their neighbors. In the Greater Pittsburgh area, Key is proud to support Neighborhood Allies.

Neighborhood Allies works to engage Pittsburgh area residents and organizations with innovative tools that expand opportunity for transformative community change. Aligned with Key's values, they believe in eliminating barriers to financial success.

This year KeyBank has directly assisted Neighborhood Allies during three on-site events with opening 50 bank accounts for young adults within in the Allegheny County Children, Youth, & Family services. Those opening certified Bank On accounts are 18-22 years old that have been in CYF placements, currently involved in the homeless system in Allegheny County or are a parent with an open case with CYF in Allegheny County. Eligible young adults may also receive $4,000 cash assistance and can double the cash assistance if they are eligible for and complete the Opportunity Passport program - a series of financial education classes.

Key's support of Neighborhood Allies dates back to 2021, when the KeyBank Foundation invested $400,000 into the organization. The grant dollars were used to implement partnerships with Allegheny County and the City of Pittsburgh to bring financial counseling to emergency rental assistance recipients, create investment clubs for Black women, offer credit building products, expand youth banking initiatives, connect entrepreneurs of color with financial counseling to build personal credit and savings and to make equity a priority.

"We have learned that it's not enough to provide financial information; those who have traditionally been excluded from the financial mainstream need access to practical and trustworthy financial tools and resources," said Sarah Dieleman Perry, Director of Economic Opportunity at Neighborhood Allies. "With funding from partners like KeyBank, we're able to bring supports that allow more people to experience success."

"KeyBank is thrilled about the continued collaborative efforts with Neighborhood Allies," said Carla Frost, KeyBank's Western Pennsylvania Corporate Responsibility Officer. "Helping to put our young neighbors on a path to financial success is not only uplifting - it's humbling. We look forward to additional opportunities where we can support Neighborhood Allies and our Greater Pittsburgh neighbors."

Photo: Auberle, Neighborhood Allies, KeyBank Community Collaboration.

View additional multimedia and more ESG storytelling from KeyBank on 3blmedia.com.

Contact Info:
Spokesperson: KeyBank
Website: https://www.3blmedia.com/profiles/keybank
Email: info@3blmedia.com

SOURCE: KeyBank

View source version on accesswire.com:
https://www.accesswire.com/770866/keybank-supports-pittsburgh-based-neighborhood-allies-to-help-build-financial-stability

FAQ

What is KeyBank's mission?

KeyBank's mission is to empower clients, communities, and employees to thrive.

Who does Neighborhood Allies work with?

Neighborhood Allies works with Pittsburgh area residents and organizations.

What types of accounts did KeyBank open for young adults?

KeyBank opened certified Bank On accounts for young adults involved in CYF placements, the homeless system, or with open cases with CYF in Allegheny County.

What is the Opportunity Passport program?

The Opportunity Passport program is a series of financial education classes that eligible young adults can complete to receive cash assistance.

When did KeyBank start supporting Neighborhood Allies?

KeyBank started supporting Neighborhood Allies in 2021 with a $400,000 investment from the KeyBank Foundation.