A Single Mom's Path to Homeowning Success

Rhea-AI Summary

Regions Bank, celebrating a 140-year history in Nashville, has partnered with Habitat for Humanity to address the city's affordable housing crisis. Through a grant, Regions Bank assisted Phlonda Davis, a single mom and nonprofit HR director, in securing a new home. The grant facilitated Habitat for Humanity of Greater Nashville to build a home for Davis, helping her escape high rent and unaffordable mortgage requirements. Community development manager Lethia Mann emphasized the long-term benefits of affordable housing, including financial education. This initiative marks Regions Bank's 18th year of involvement and highlights the positive community impact.

Positive

• Regions Bank's 140-year history in Nashville demonstrates long-term community involvement.
• Partnership with Habitat for Humanity directly addresses Nashville's affordable housing crisis.
• Grant provided by Regions Bank enabled the construction of a new home for a single mother.
• Participation in Habitat for Humanity builds for 18 consecutive years shows consistent community support.
• Offering budgeting education to new homeowners ensures long-term home retention and financial stability.
• The new community will provide nearly sixty families with affordable housing once complete.

Negative

• The PR does not mention the financial impact or cost of the grant provided by Regions Bank.
• No information on the overall effect on the company's financial performance or stock price.
• The press release lacks details on any potential risks or challenges faced during the project.

Regions Bank's longstanding community partnership with Habitat for Humanity contributes to the company's rich, 140-year history in Nashville.

NORTHAMPTON, MA / ACCESSWIRE / June 10, 2024 / Regions Bank
By Veleka Finch

"Mama did it!"

Phlonda Davis imagined her three children speaking those very three words whenever she encountered a barrier on the road to owning a home.

The thought of hearing those words re-directed Davis each time.

Away from the unaffordable down payment requirements for a traditional mortgage.

Away from savings-robbing, never-ending rent hikes at the apartment she was leasing.

Toward the fastest route to homeownership for her family - Habitat for Humanity of Greater Nashville.

And Regions Bank provided Davis a lift to get there - in the form of a grant to Habitat, expressly for the construction of a new home for Davis, a single mother who works as a nonprofit human resources director.

"In Nashville, we have an affordable housing crisis," said Lethia Mann, a community development manager for Regions Bank. "Our partnership with Habitat helps us to provide new, quality housing that's affordable for the families who work every day in this community."

Mann has served on Habitat Nashville's board for several years. The role offers her a front-row view of the organization's impact.

This is a step that's going to change the trajectory of generations to come in their families.

Lethia Mann, community development manager for Regions Bank

"We get to meet the families. We visit them in their homes. We meet their children," Mann said.

"It's not just about getting a home and having a mortgage, but it's providing budgeting education so they can stay in the home for years and pass it on," Mann added. "They know this is a step that's going to change the trajectory of generations to come in their families."

Mann and other Regions associates shared in Davis's ride toward homeownership through a day of hands-on sweat equity to help build her home. It was the Nashville team's 18^th year participating in a build; the first time a build was combined with a targeted homeowner grant.

Davis thanked the associates for helping see her to her ultimate destination - a doorstep of her own.

"They can be anywhere in the world, helping anybody, or doing anything," Davis marveled. "But they chose to be out here with me."

The experience has inspired Davis to give back. She plans to volunteer to help her new neighbors build their Habitat homes. The community will include single dwellings for nearly sixty families once it's complete.

Davis hopes the following words will now resonate for her three children on their life journeys: "No matter where you come from, how you grew up, no matter the odds and obstacles that are stacked against you, you can do it," Davis said.

Because their mama did it.

Learn more about Phlonda Davis's home build and how Regions Bank supports Habitat Nashville through the video above.

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

Contact Info:
Spokesperson: Regions Bank
Website: https://www.3blmedia.com/profiles/regions-bank
Email: info@3blmedia.com

SOURCE: Regions Bank

View the original press release on accesswire.com

FAQ

What initiative has Regions Bank undertaken to address affordable housing in Nashville?

Regions Bank partnered with Habitat for Humanity, providing grants for home construction to help address Nashville's affordable housing crisis.

How did Regions Bank assist Phlonda Davis in becoming a homeowner?

Regions Bank provided a grant to Habitat for Humanity, which facilitated the construction of a new home for Phlonda Davis.

What long-term benefits does Regions Bank's partnership with Habitat for Humanity offer?

The partnership offers affordable housing, budgeting education, and a positive impact on future generations.

How many years has Regions Bank participated in Habitat for Humanity builds?

Regions Bank has participated in Habitat for Humanity builds for 18 consecutive years.

What is the focus of Regions Bank's community development manager, Lethia Mann, regarding affordable housing?

Lethia Mann focuses on providing new, quality, affordable housing and budgeting education to ensure long-term home retention.