BOSTON – Berkshire Bank’s Community Comeback program just ended by exceeding its $5 billion goal to lend and invest across the company’s markets, after launching the multi-year program amid the COVID-19 pandemic in 2021.
The Community Comeback program focuses on four central aspects for strengthening local communities: empowering small businesses, community financing and philanthropy, increasing financial access, and environmental sustainability.
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Berkshire Bank reports that the program lent more than $3.5 billion in investments for low- to moderate-income neighborhoods, with more than $600 million lent for low-carbon projects. It also lent more than $50 million in sustainable investments under management.
The program also impacted more than 800,000 individuals through financial wellness programming, according to the bank.
“As a values-guided organization for more than 175 years, Berkshire launched the Community Comeback to help transform the overall quality of life for the people and places we serve,” said Gary Levante, chief communication and sustainability officer. “Together, we redeveloped neighborhoods, helped consumers realize the dream of homeownership and created jobs across our markets. Beyond the impact in our communities, the Comeback contributed to our commercial performance, which created capacity to invest in our business, employees, clients and shareholders.”
Last year, the award-winning program was honored with the Community Commitment Award by the American Bankers Association Foundation for its positive impact on economic inclusion in the communities it serves.
The Community Commitment Award recognizes banks’ acts of service to support the people in their communities and grow their local economies – highlighting those who set the standard for community engagement nationwide, according to the ABA Foundation.
Headquartered in Boston, Berkshire Bank has four financial centers in Rhode Island, located in Middletown, Newport, South Kingstown and Westerly.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
