Funds Will Be Used To Bolster CU’s Deposit Base
July 22, 2020
F.N.B. Corporation, parent company of First National Bank, announced a $100,000 contribution to the Hill District Federal Credit Union, a minority depository institution serving Pittsburgh's Hill District community. The investment aligns with its recent announcement of a $250 million financial commitment to address economic and social inequity in low- and moderate-income communities.
The credit union has served the Hill District, a historically Black community, for the last 50 years. The investment by FNB is in the form of a capital contribution which will bolster the credit union's deposit base and ability to deliver financial services and education to help residents establish successful banking habits.
"The Hill District Federal Credit Union is a crucial resource in the community, and FNB is proud to contribute to our shared goal of connecting the underserved with tools to achieve better financial health," said Vincent J. Delie, Jr., chairman, president and CEO of First National Bank. "This latest contribution highlights our confidence in the credit union and its ability to affect real change for its members, expanding on a history of financial and hands-on support that has also included employee development and the build-out of their financial literacy program."
In addition to maintaining branch locations, including at 125 Centre Avenue in the Hill District, FNB has provided resources toward revitalization in the Hill District and other predominantly minority and low- to middle-income neighborhoods in the Pittsburgh region. The company has provided hundreds of thousands of dollars of support to economic development groups, affordable housing and workforce development initiatives, and has deployed extensive financial education resources and programming.
Richard Witherspoon, CEO of the Hill District FCU, reinforced the importance of corporate and community partnership in times of uncertainty. He said, "FNB has become a significant partner to the Hill District Federal Credit Union and our community. With all that has transpired in recent months, organizations that already do more with less have experienced even more significant survival issues. This investment in our community credit union will significantly strengthen our foundation so that we will continue to fulfill our mission in the community which is to serve the underserved with financial services."
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