PNC Bank Expands Community Advisory Council to 20 Members as It Strengthens Focus on Community Investment Needs Nationwide

Rhea-AI Summary

PNC Bank has expanded its Community Advisory Council (CAC) to 20 members, adding nine executives representing seven states. The council, formed in 2022, supports PNC's $88 billion Community Benefits Plan aimed at fostering economic opportunity for low- and moderate-income individuals. The CAC advises PNC on community lending, investment, and service priorities, having already deployed nearly $56 billion in investments and loans. Newly appointed members will enhance PNC's impact on affordable housing and other critical needs. The council meets biannually to address issues affecting communities nationwide.

Positive

• PNC Bank expanded its CAC to 20 members, enhancing expertise across seven states.
• The CAC supports PNC's $88 billion Community Benefits Plan, targeting economic opportunities for low- and moderate-income individuals.
• Nearly $56 billion has been deployed in investments and loans since the CAC's formation in 2022.
• New members will strengthen PNC's focus on affordable housing and other critical areas.
• The CAC convenes biannually, ensuring ongoing engagement with community needs.

Negative

• No specific negative financial data reported in the PR.
• Potential risks involved in managing a large-scale $88 billion plan.

PITTSBURGH, PA / ACCESSWIRE / May 23, 2024 / PNC Bank has expanded its national Community Advisory Council (CAC) with the addition of nine community development executives representing seven states from across the company's footprint. The newly appointed members join 11 current PNC CAC representatives who bring a broad range of expertise in community investment lending and services, small business development and economic development.

Formed in 2022 to provide ongoing guidance in support of PNC's four-year, $88 billion Community Benefits Plan, the newly expanded group of nonprofit, community and business leaders gathers twice a year to advise the bank on critical issues impacting society and to help inform PNC's community lending, investment and service priorities.

"Community Advisory Council members have been instrumental in the successful implementation of the Bank's Community Benefit Plan, which has deployed nearly $56 billion in investments and loans to support communities nationwide since launching in 2022," said Richard Bynum, PNC chief corporate responsibility officer. "The council's newest advisory members give us an even greater opportunity to engage with the communities we serve and strengthen our impact in affordable housing and other areas of critical need."

Members of the 2024 PNC Community Advisory Council are:

• Barbara Busch, Working In Neighborhoods (WIN), Cincinnati, OH
• Bob Dickerson, Birmingham Business Resource Center, Birmingham, AL
• Bobby Calvillo*, Affordable Homes of South Texas, Inc. McAllen, TX
• Carl Manning*, Kingdom Community Development, Fayetteville, NC
• Christie McCravy*, Louisville Metro Affordable Housing Trust Fund, Louisville, KY
• Darel Ross, Start Garden, Grand Rapids, MI
• Dena Mottola Jaborska*, New Jersey Citizens Action, Newark, NJ
• Ernie Hogan, Pittsburgh Community Reinvestment Group, Pittsburgh, PA
• Gustavo Lasala, PeopleFund, Austin, TX
• Harold Pettigrew*, Opportunity Finance Network, Washington, DC
• Ignacio Esteban*, Florida Community Loan Fund, Orlando, FL
• Jesse Van Tol, National Community Reinvestment Coalition (NCRC), Washington, DC
• Joseph B. Anderson, TAG Holdings, LLC, Wixom, MI
• Luis Granados, Mission Economic Development Agency (MEDA), San Francisco, CA
• Marla Bilonick, National Association for Latino Community Asset Builders, Washington, DC
• Matt Hull, Texas Association of Community Development Corporations, Austin, TX
• Rudy Espinoza*, Inclusive Action, Los Angeles, CA
• Seema Agnani, National Coalition for Asian Pacific American Community Development, Washington, DC
• Watchen Bruce*, Baltimore Community Lending, Baltimore, MD
• Will González*, CEIBA, Philadelphia, PA

*Newly appointed

Launched in 2022 and scheduled for completion in 2025, PNC's Community Benefits Plan will provide $88 billion in loans and investments and other financial support to bolster economic opportunity for low- and moderate-income individuals, communities and people of color. For more information about PNC's Community Benefit Plan please see the most recent impact report at pnc.com.

PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE:PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

CONTACT:
Asia Rambo
(404) 495-6386
asia.rambo@pnc.com

View additional multimedia and more ESG storytelling from The PNC Financial Services Group on 3blmedia.com.

Contact Info:
Spokesperson: The PNC Financial Services Group
Website: https://www.3blmedia.com/profiles/pnc-financial-services-group
Email: info@3blmedia.com

SOURCE: The PNC Financial Services Group

View the original press release on accesswire.com

FAQ

What is the PNC Community Benefits Plan?

The PNC Community Benefits Plan is a four-year, $88 billion initiative launched in 2022 to support economic opportunities for low- and moderate-income individuals and communities.

How much has PNC's Community Benefits Plan deployed so far?

Since its inception in 2022, PNC's Community Benefits Plan has deployed nearly $56 billion in investments and loans.

Who are some of the new members added to PNC's Community Advisory Council?

New members include executives from organizations like Working In Neighborhoods, Affordable Homes of South Texas, and New Jersey Citizens Action.

What is the role of PNC's Community Advisory Council?

The Community Advisory Council advises PNC on community lending, investment, and service priorities, and meets twice a year to address issues impacting communities.

When was PNC's Community Advisory Council formed?

PNC's Community Advisory Council was formed in 2022.

How frequently does PNC's Community Advisory Council meet?

The council meets biannually to discuss issues and advise on community investment priorities.