Valley Bank Invests More than $3B to Support Communities

On May 8, 2024

Valley National Bancorp, the holding company for Valley National Bank, has released “Building a Better Future” – the Bank’s 2023 Corporate Social Responsibility (CSR) Report. Last year, Valley invested more than $3 billion to support organizations and communities in New Jersey, New York, Florida, Alabama, California, and Illinois.

Report highlights include:

• $1.21 billion in community development loans to advance affordable housing and community services to low-to-moderate income (LMI) individuals, economic and community development, and revitalization and stabilization
• $887 million in multi-family and residential mortgage loans to support affordable housing in LMI areas and for LMI individuals
• $547 million in community development investments supporting LMI neighborhoods individuals and businesses
• $418 million in loans to support small businesses and/or in underserved neighborhoods
• $4.9+ million in total charitable giving last year to support non-profit organizations

Valley says it supports and strengthens these communities through economic inclusion, workforce and community development, investment in local nonprofits, environmental stewardship, and an intentional commitment to its local partners. 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.

“We have strategically invested in initiatives aimed at deepening our impact within the community, particularly in the realm of financial capacity building,” said Bernadette Mueller, Executive Vice President and Chief Corporate Social Responsibility – CRA Officer. “We are focused and purposeful about our approach to create positive community impact. From empowering small businesses to fostering financial education and supporting vital community organizations, together, we are building stronger, more resilient communities.”

Valley encourages its employees and supports their efforts to give back to their communities. In 2023, Valley launched the Workplace Giving program which doubles the impact of its associates’ donations to their favorite nonprofit organizations through a matching donation. Through the bank’s Valley Cares program, Valley employees volunteered more than 13,500 service hours to support community partners and programs in the regions we serve.

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