KeyBank Boosts Commitment To $40 Bln For Community Benefits Plan - Quick Facts

(RTTNews) - Regional bank KeyBank, the primary subsidiary of KeyCorp. (KEY), announced on Friday that it will increase its commitment to $40 billion from the initial $16.5 billion for community benefits plan to focus on economic access and equity for underserved communities and populations.

KeyBank's announcement comes as it has surpassed the goal of the initial five-year $16.5 billion commitment one year early by delivering more than $18 billion in lending and investments across its footprint.

These investments have supported affordable housing and community development projects nationwide, small business and home lending in low- and moderate-income communities, and philanthropic efforts targeted toward education, workforce development, and safe, vital neighborhoods.

Off the total commitment of $40 billion, KeyBank will use $36 billion for economic equity & inclusion and $4 billion for renewable energy & sustainability.