Truist invests $17 million in the future of Charlotte and communities across North Carolina
Commitments will support affordable housing, career development and economic mobility initiatives
The Truist commitment consists of three initiatives:
equity investment from Truist Community Capital in the Housing Impact Fund II to combat displacement, secure affordable housing and facilitate critical services for low-to-moderate income families across$15 million Mecklenburg County . It is the second such fund formed by Erskine Bowles, former head of theU.S. Small Business Administration and White House Chief of Staff under President Clinton, and Nelson Schwab, a founding partner of Carousel Capital. Truist Foundation grant to Per Scholas North Carolina to expand technology skills training in rural$1 million North Carolina . Truist Foundation grant to NPower to provide technology skills and employment opportunities for military-connected individuals and underserved young adults in the$1 million Raleigh community.
"Safe, affordable housing and career pathways are key to
Truist Community Capital continues to lead in affordable housing investment fund
Truist renews its role as the anchor investor in the Housing Impact Fund II (HIF II), which has raised
The housing created by HIF I is more than
"Protecting NOAH properties is an important and lower-cost way for growing cities to provide affordable housing to residents," said Mark Ethridge, principal at Ascent Housing, which oversees property acquisition, rehabilitation and operation for HIF I and II. "Without protection, NOAH apartments will not stay affordable, and we risk losing these units to redevelopment and pricing thousands of people out of the housing market. Truist and our fund investors are helping ensure safe, affordable housing options are available in these communities."
HIF II received support from a diverse group of investors with deep ties to
Truist Foundation grants build skills, help propel economic mobility across state
In an era where technology and digital prowess have become essential for many job opportunities, Truist Foundation announced two grants with a singular focus: forging pathways to economic mobility through technology-oriented training initiatives.
NPower, a nationwide tech training program spanning seven states, is venturing into
"Real innovation begins when the problem statement is clear and there is a sincere commitment to address it. That's why we're thrilled to be partnering with Truist Foundation for our expansion into
Per Scholas, an organization that has been advancing equity and increasing opportunity across America for more than 25 years, aims to double the size of its technology skills training offering in the Tarheel state. Through dynamic partnerships, Per Scholas North Carolina will offer remote training programs to more than 250 learners in rural areas of the state in an effort to increase access and opportunity for high-growth careers in technology. With a robust roster of employer partners, from Fortune 500 companies to innovative startups, some previous graduates of the program were able to earn nearly twice their pretraining wages, which can result in sustainable economic mobility.
"Per Scholas is grateful for this tremendous investment into Per Scholas North Carolina from
About Housing Impact Fund II
Housing Impact Fund II is a
About NPower
NPower is a national nonprofit on a mission to move people from poverty to the middle class by training youth from underserved communities and military-connected individuals in a range of tech skills and placing them in quality jobs. Students who enter their free, six-month program, earn industry-recognized certifications and graduate with the competencies of an IT professional with one to two years of experience. NPower also places students in paid internships with corporate and nonprofit organizations. Eighty percent of NPower graduates get a full-time job or continue their education. Not only is NPower changing life trajectories for individuals from vulnerable communities, but they are also strengthening the overall competitiveness of
About Per Scholas
For more than 25 years, Per Scholas has been advancing equity and increasing opportunity across America. Per Scholas unlocks potential for individuals, communities, and employers through rigorous training for careers in tech. Partnering with dynamic employer partners, from Fortune 500 companies to innovative startups, we are building sustainable and diverse talent pipelines, together changing the face of tech. With national remote training and campuses in 20 cities and growing, Per Scholas offers tuition-free training in the most in-demand tech skills, including Cloud, Cybersecurity, Data Engineering, IT Support, Software Engineering, and more. To date, more than 20,000 individuals have gained the skills to launch high-growth tech careers, earning three times their pre-training wage. Diversity, equity, inclusion, and belonging is our DNA, with 85 percent of learners are people of color, two in five are women, and more than half have a high school diploma as their highest education credential. Learn more by visiting PerScholas.org and follow us on LinkedIn, Twitter, Facebook, Instagram, and YouTube. For local updates, follow Per Scholas North Carolina on LinkedIn and Facebook.
About Truist Foundation
Truist Foundation is committed to Truist Financial Corporation's (NYSE: TFC) purpose to inspire and build better lives and communities. Established in 2020, the foundation makes strategic investments in nonprofit organizations to help ensure the communities it serves have more opportunities for a better quality of life. Truist Foundation grants and activities focus on building career pathways to economic mobility and strengthening small businesses. Learn more at Truist.com/Foundation.
About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist has leading market share in many high-growth markets in the country and offers a wide range of products and services through our retail and small business banking, commercial banking, corporate and investment banking, insurance, wealth management and specialized lending businesses. Headquartered in Charlotte,
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