U.S. Bank today announced $150,000 in donations to the Phoenix metro area as part of its $15 million U.S. Bank Foundation Rebuild and Transform Fund, addressing systemic racial inequities in small business, housing and workforce advancement. This second wave of the fund includes $5 million to local communities across U.S. Bank’s footprint, and follows $5 million that went to Twin Cities organizations in the first round. The Fund is part of the bank’s previously announced $116 million commitment to address social and economic inequities.
“Our focus is on listening to and learning from community leaders and responding to critical needs,” said Arturo Pérez, Vice President and Community Affairs Manager for the Arizona, Las Vegas and New Mexico markets at U.S. Bank. “Today we are proud to share the details of our philanthropic giving to 10 additional markets across the country that historically experience low economic mobility. We are investing in organizations led by, or primarily benefitting, people of color because we trust community leaders to know how, when and where to use these funds for the greatest impact.”
The donations in Phoenix will go to Trellis to help create sustainable wealth-building opportunities through increased homeownership, and the Arizona Hispanic Chamber of Commerce to elevate racially diverse leadership among small businesses. Specifically, Trellis will use U.S. Bank’s investment to provide a down payment assistance pool for their clients, who are primarily people of color, going through Trellis’ homeownership training looking to purchase a home. The Arizona Hispanic Chamber will use the funds to create a series of workshops and support networks for women and emerging leaders, working in collaboration with the Black, Asian, Chinese and American Indian Chambers to recruit participants, promote the workshops and provide guest speakers.
“While philanthropy can’t solve these challenges alone, we believe funding workforce advancement and providing access to capital for housing and homeownership creates opportunities for catalytic change,” Pérez said.
The local markets receiving grants are: Charlotte, NC; Chicago, IL; Little Rock, AR; Louisville, KY; Milwaukee, WI; Nashville, TN; Ohio – Akron, Columbus, Cincinnati, Cleveland and Dayton; Portland, OR and St. Louis, MO. In total, 48 organizations will receive funding across these markets. A full list is included below. For more information, visit usbank.com/community.