Valley Bank released “Inspiring Change” — the Wayne-based financial institution’s 2022 Corporate Social Responsibility report that highlights its 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. To view the full report, click here.
Report highlights include:
- $1.49 billion in community development loans to advance affordable housing and community services to low- to moderate-income individuals, economic and community development, and revitalization and stabilization;
- $1.1 billion in multifamily 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; and
- $5.3 million-plus in total charitable giving last year to support nonprofit organizations.
Valley is dedicated to serving, supporting and strengthening its communities through economic inclusion, workforce and community development, investment in local nonprofits, environmental stewardship and a conscious 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 within the communities it serves.
“Valley has an unwavering dedication to foster positive change in our communities,” Bernadette Mueller, executive vice president and chief CSR-CRA officer, said. “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 diversity, equity & inclusion is showcased 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, California, and Chicago.
Additionally, in 2022, Valley received an “Outstanding” rating from the Office of the Comptroller of the Currency for its Community Reinvestment Act performance during 2019- 2021 — its second consecutive “Outstanding” rating.