Washington Trust Charitable Foundation Donates $122,000 to Housing Organizations in Rhode Island

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Washington Trust Announces Strategic Partnership, Driving Growth and Expansion Opportunities

WESTERLY, R.I., Feb. 29, 2024 /PRNewswire/ -- Washington Trust ("the Bank") today announced that the Washington Trust Charitable Foundation ("Charitable Foundation") has awarded $122,000 to seven Rhode Island organizations in support of various programs to support safe and affordable housing and homeownership programs throughout the Ocean State.

The grants are part of more than $459,000 of total giving granted by the Charitable Foundation to 60 organizations throughout the Bank's footprint. In addition to these grants, additional funds were awarded to organizations in support of financial literacy and economic empowerment, basic needs and family services, diversity and inclusion, and more.

"Washington Trust is committed to supporting organizations that offer safe and affordable housing programs for our neighbors," said Rolando Lora, Washington Trust Executive Vice President and Chief Retail Lending Officer. "These grants represent both a financial investment for the development of new housing in Rhode Island, as well as support for educational programming to help our neighbors realize the dream of homeownership."

Washington Trust grants funded the following housing organizations and programs:

• Local Initiatives Support Corporation (LISC)- The $25,000 in funding will support LISC's 'Neighborhood Development Fund,' which helps to build capacity for local Community Development Corporations through training, resources and technical assistance.
• Neighborworks Blackstone River Valley- The $22,000 in funding will support their 'Focused Neighborhood Homeownership Initiative,' which provides intensive HUD-certified homebuyer assistance to help 20 renters to become first-time homeowners.
• West Elmwood Housing Development Corporation- The $20,000 in funding will be used to support their 'Matched Savings Incentive Program,' which provides financial capability workshops for future homeowners, and the 'Getting Your House In Order" program, which provides culturally specific financial education for African-Americans.
• ONE Neighborhood Builders- The $20,000 in funding will be used to support the advancement of pre-development activities affiliated with the construction of Sheridan Village, a six-building modular development in Olneyville, which will create homeownership opportunities for upwards of 20 Rhode Islanders from low-to-moderate income households.
• Pawtucket Central Falls Development- The $20,000 in funding will be used to support their Homeownership Program, which has two major focus areas: providing bilingual pre- and post- purchase homebuyer education classes and supporting the construction and sale of single and two-family homes for first time homebuyers.
• Crossroads Rhode Island- The $10,000 in funding (year 2 of a 5-year, $50,000 commitment) will be used to support the "Roads to Home" Capital Campaign to create nearly 300 affordable permanent supportive apartments for formerly homeless adults in Providence.
• South County Habitat for Humanity- The $5,000 in funding (year 1 of a 2-year, $10,000 commitment) will help to support the construction of two new affordable homes on Cardinal Lane in Hopkinton that will be purchased by hard-working local families.

The Washington Trust Charitable Foundation is committed to furthering Washington Trust's support of the communities it serves. For more information, click here.

ABOUT WASHINGTON TRUST^®

Founded in 1800, Washington Trust is recognized as the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast's premier financial services companies. Washington Trust values its role as a community bank and is committed to helping the people, businesses, and organizations of New England improve their financial lives. The Bank offers a wide range of commercial banking, mortgage banking, personal banking and wealth management services through its offices in Rhode Island, Connecticut and Massachusetts and a full suite of convenient digital tools. Washington Trust is a member of the FDIC and an equal housing lender. Washington Trust is a subsidiary of Washington Trust Bancorp, Inc., a publicly-owned holding company which trades on NASDAQ: WASH. For more information, visit the Bank's website at www.washtrust.com or the Corporation's website at ir.washtrust.com.

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SOURCE The Washington Trust Company

FAQ

What did Washington Trust announce?

Washington Trust announced a strategic partnership.

When was the announcement made?

The announcement was made on February 29, 2024.

What are the potential benefits of the partnership?

The partnership is expected to drive growth and expansion opportunities for Washington Trust.

Where is Washington Trust headquartered?

Washington Trust is headquartered in Westerly, Rhode Island.