Valley Bank Invested More than $3.4B to Support Communities in 2022

On May 25, 2023

Valley National Bancorp has released “Inspiring Change” – the 2022 Corporate Social Responsibility (CSR) Report that highlights Valley Bank’s commitment to drive social, economic, and environmental success within the communities it serves. In 2022, Valley invested more than $3.4 Billion to support organizations and communities in New Jersey, New York, Florida, Alabama, California, and Illinois.

Report highlights include:

• $1.49 billion in community development loans to advance affordable housing and community services to LMI (low-to-moderate income) individuals, economic and community development, and revitalization and stabilization;
• $1.1 billion in multi-family and residential mortgage loans to support affordable housing in LMI areas;
• $455 million in loans were made to support small business lending in underserved neighborhoods;
• $5.3+ million in total charitable giving last year to support non-profit organizations.

The report focuses on Valley’s four pillars of CSR: promoting affordable housing; inspiring innovation and entrepreneurship; stimulating economic and community development; and driving impactful, local leadership within the communities we serve.

“Valley has an unwavering dedication to foster positive change in our communities,” said Bernadette Mueller, executive vice president and chief CSR-CRA Officer. “Our mission is to give people and businesses the power to succeed and we are proud to achieve this through corporate giving, community service, and customized solutions for our communities.”

The bank’s commitment to DEI is revealed through its efforts to create an inclusive work environment that enhances its ability to innovate its practices and products, gain new insights, and apply this growth to its community work. Through the acquisition of Bank Leumi USA last year, Valley expanded its CSR efforts to Los Angeles, Palo Alto and Chicago.

Additionally, in 2022, Valley received an Outstanding rating from the Office of the Comptroller of the Currency (OCC) for our Community Reinvestment Act (CRA) performance during 2019 – 2021 – it’s second consecutive Outstanding rating.

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