Regions Celebrates Community Collaboration with the Release of Making Life Better: 2020 Community Engagement Report
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Report shows how Regions made an impact in a year like no other.
BIRMINGHAM, Ala.--(BUSINESS WIRE)-- Regions Financial Corp. (NYSE: RF) today announced the release of the Making Life Better: 2020 Community Engagement Report, which chronicles how Regions Bank and the Regions Foundation, along with Regions Bank associates and community partners, invested in communities during a year like no other.
“At Regions Bank and the Regions Foundation, we believe we are only as strong as the communities we serve. That’s why we are making targeted investments to local organizations that are addressing pressing needs,” said Leroy Abrahams, head of Community Affairs for Regions Bank and president of the Regions Foundation. “The events of 2020 created unparalleled challenges for everyone but especially for underserved communities and people of color. Regions Bank, our associates, the Regions Foundation, and a wide variety of community organizations came together to meet these challenges head on. This report celebrates the community organizations and innovative programs that Regions Bank and the Regions Foundation supported in 2020, a year like no other.”
The Making Life Better: 2020 Community Engagement Report recognizes organizations across the markets that Regions Bank serves and outlines community investments that Regions Bank and the Regions Foundation made in 2020. Highlights include:
United in Inclusive Prosperity
- Supported more than 1,700 community partners with $29.4 million in contributions and sponsorships throughout the footprint.
- Announced a two-year, $12 million commitment to advance programs and initiatives that promote racial equity and economic empowerment for communities of color by advancing minority business development, increasing minority homeownership, reducing the digital divide in underserved communities, and promoting racial understanding.
- Created a financial education program for people with cognitive and developmental disabilities.
- Established and funded the Regions Community Development Corporation to provide debt and equity financing for projects and entities with a community development purpose.
United in Pandemic Response
- Provided food, PPE, and school supplies to community members and community partners in need.
- Contributed $5.3 million in COVID-19 relief and recovery funding, supporting over 340 organizations in 16 states, including Community Development Financial Institutions (CDFIs), business chambers, and local economic development organizations.
- Donated over $2 million in advertising time to encourage giving to local food banks.
- Prepared over 5,600 meals for individuals in need.
- Supported Historically Black Colleges and Universities in their transition to remote learning and provided financial assistance to students in need.
United in Disaster Recovery
- Supported communities during natural disasters with volunteerism and over $500,000 in funding.
- Opened portable branches to serve customers.
- Implemented a series of financial services to help people and businesses impacted by natural disasters.
Regions Bank and the Regions Foundation aim to build inclusive prosperity through targeted community engagement in three priority areas: economic and community development, education and workforce readiness, and financial wellness. More information is available in the Community Engagement section of regions.com.
About Regions Financial Corporation
Regions Financial Corporation (NYSE: RF), with $153 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,300 banking offices and approximately 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.
About Regions Foundation
Regions Foundation supports community investments that positively impact the communities served by Regions Bank. The Foundation engages in a grantmaking program focused on priorities including economic and community development; education and workforce readiness; and financial wellness. The Foundation is a nonprofit 501(c)(3) corporation funded primarily through contributions from Regions Bank.
Source: Regions Financial Corp.
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