Valley Bank Releases 2020 Corporate Social Responsibility Report
Valley National Bancorp (NASDAQ: VLY) has released its 2020 Corporate Social Responsibility (CSR) report titled Catalyst For Change. The report emphasizes the bank's dedication to community support amidst a challenging year marked by a pandemic and social issues. Key highlights include $3.6 million in charitable giving, $2.3 billion in PPP loans to approximately 13,000 businesses, and over $2 million committed through the Community Pledge CD. The bank aims to enhance its CSR initiatives and community engagement in 2021.
- $3.6 million in total charitable giving.
- $2.3 billion in PPP loans assisting ~13,000 businesses.
- $2.5+ million invested in COVID-19 related funds.
- $575,000 allocated to 14 food banks.
- Challenges faced from global pandemic and economic turmoil.
Highlights Response and Commitment to Communities during Tumultuous Year
NEW YORK, April 07, 2021 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ: VLY), the holding company for Valley National Bank, released Catalyst For Change, the Bank’s 2020 Corporate Social Responsibility (CSR) Report that highlights the Bank’s commitment to helping build stronger communities and to advance its mission to promote social and economic justice. To view the full report, click here or visit www.valley.com/CSR2020.
Here are a few highlights of our community support in 2020:
$3.6 Million in total charitable giving$575,000 allocated across 14 food banks and food pantries throughout their geographic footprint$2.5 + Million invested in COVID-19 related funds that support LMI organizations and businesses- ~13,000 businesses assisted with Paycheck Protection Program loans totaling
$2.3 Billion in funding - Development of the Community Pledge CD resulting in over
$2 Million in support to 264 organizations throughout NY/NJ/FL/AL - 2,136 loans to small business in low- to moderate-income areas
- Conducted Journey to Homeownership webinar program to educate customers
- Expanded Valley’s Women in Business program
- Hired a Chief Diversity Officer and launched the Valley Associate Resource Group (ARG) program to foster an inclusive culture
“For Valley, 2020 was a defining moment in our history as we lived up to our purpose and demonstrated the positive impact a bank can have on local communities,” said Bernadette Mueller, Executive Vice President and Chief CSR-CRA Officer. “Advocating for our communities and providing them the support they need to thrive is not only our responsibility, it defines our purpose as an organization. The events of the past year; a global pandemic, economic turmoil, political division and social and racial injustice -- all challenged us to come together as a society and organization to confront these issues.”
As local communities begin to recover from the effects of a global pandemic, Valley continues to expand its programs, community engagement opportunities and partnerships in 2021. Valley remains committed to its four CSR pillars which include promoting affordable homes, inspiring innovation and entrepreneurship, stimulating economic and community development and living its commitment to impactful local leadership.
About Valley
As the principal subsidiary of Valley National Bancorp, Valley National Bank is a regional bank with approximately
| Contact: | Marc Piro Senior Vice President 973-686-5461 mpiro@valley.com |
FAQ
What does the 2020 CSR report from Valley National Bancorp highlight?
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