MINNEAPOLIS (May 13, 2024) – The U.S. Bank Foundation announced today that it has distributed more than $450,000 in Opportunity Fund grants to nonprofit organizations serving the Charlotte area. A five-year, $75 million financial commitment, the U.S. Bank Foundation Opportunity Fund supports organizations working to increase wealth-building opportunities for underserved communities, including low- to moderate-income communities, rural communities and communities of color.
The fund currently prioritizes grants toward community development financial institutions (CDFIs); small business technical assistance and business incubators; affordable housing development; homeownership and down payment assistance; and digital access and economic development in rural and Native American communities.
“By working with nonprofits that have deep roots in local communities, the U.S. Bank Foundation Opportunity Fund supports stable housing options, helps new businesses flourish and communities thrive,” said Reba Dominski, chief social responsibility officer at U.S. Bank and president of the U.S. Bank Foundation.
Organizations receiving grants supporting the Charlotte area include:
- Business Expansion Funding Corp
- Prospera
- United Way of Greater Charlotte
“We greatly appreciate the support from the U.S. Bank Foundation, which helps us continue to build and expand our efforts to address homelessness and affordable housing across Charlotte-Mecklenburg. Mecklenburg County and the City of Charlotte have committed to match U.S. Bank’s contribution. Partnerships such as these will fuel the innovative strategies needed to drive A Home For All’s success,” said Laura Yates Clark, president and CEO of United Way of Greater Charlotte.
Across the country, the U.S. Bank Foundation distributed $15 million in Opportunity Fund grants in its initial round of grants. Many organizations also will receive support in future rounds of funding. These grants support the commitments U.S. Bank has made to increase small business lending, mortgage lending, and community development lending and investments across the country.
The U.S. Bank Foundation Opportunity Fund builds upon the bank’s signature Community Possible Grant Program, which will continue to provide funds to nonprofit partners, as well as the legacy of U.S. Bank Foundation programs such as the Market Impact Fund and Rebuild and Transform Fund.
For more information how U.S. Bank supports the communities it serves, visit https://www.usbank.com/about-us-bank/community.html.
About U.S. Bancorp
U.S. Bancorp, with more than 70,000 employees and $684 billion in assets as of March 31, 2024, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2024 World’s Most Ethical Companies and Fortune’s most admired superregional bank. Learn more at usbank.com/about.