KeyBank's 2017 National Community Benefits Plan (hereafter referred to as the Plan) addresses concerns expressed by the National Community Reinvestment Coalition (NCRC) and NCRC member organizations, in light of KeyBank's pending acquisition of First Niagara, scheduled for Q3 2016. The Plan keeps current and future clients, local residents, and the strength and stability of neighborhoods and communities, at the forefront. Successful execution of the Plan will result in significant community investment by KeyBank, as well as broadened access to relevant and effective products, solutions, and services for all members of the community, wherever KeyBank has a presence.
The Plan covers all 23 of KeyBank's current markets, from Alaska to Maine, five of which, pre-acquisition, overlap with First Niagara: Buffalo/Niagara Falls, Rochester, Syracuse, Albany and Hudson Valley. In addition, the Plan covers four First Niagara markets that will be new to KeyBank, in: Philadelphia (and Allentown), Pennsylvania; Pittsburgh, Pennsylvania; Hartford, Connecticut (including eight branches in Springfield, Massachusetts); and New Haven, Connecticut.
Of the $16.5 billion, KeyBank expects to invest approximately 35 percent of that amount in the combined First Niagara/KeyBank footprint (i.e., the five current overlap markets and the four markets that will be new to KeyBank). The investments will be made in prescribed categories, including mortgage and consumer loans, small business lending, community development lending and investment, and philanthropy.
We are at the corner of Kemp Rd and Fairfield Rd beside WalGreens