GLENDALE, CA, UNITED STATES – September 17, 2024 – City National Bank has made a $10,000 charitable contribution to the California Community Reinvestment Corporation’s Mary Kaiser Education Scholarship, demonstrating their commitment to CCRC’s mission of empowering low-income communities across California.
The Mary Kaiser Education Scholarship supports students pursuing higher education or GED assistance who live in CCRC-financed affordable housing communities. Named after Mary Kaiser, CCRC’s former president of 27 years, the scholarship has awarded over $500,000 to residents of these communities. Many recipients are first-generation college students, single parents with dependent children, or individuals facing significant barriers to educational achievement. This scholarship serves as a crucial resource for restoring opportunities to historically underserved demographics through education.
Affordable housing is essential for creating stability and autonomy within vulnerable communities, but CCRC's mission extends beyond simply providing shelter. To address the long-standing challenges faced by low-income Californians, CCRC is committed to supporting housing as a continuum, from houselessness to affordable housing to homeownership, and restoring financial autonomy to vulnerable Californians.
Support from organizations like City National Bank enables the Mary Kaiser Education Scholarship to continue fostering resilience and unlocking opportunities for those who need it most.
About California Community Reinvestment Corporation:
CCRC is a reliable and trusted partner and California’s premier multifamily housing lender, tackling the affordable housing crisis throughout the state. CCRC and its lending products are providing term financing for multifamily rental housing in California through a taxable mortgage pool and by committing to purchase tax-exempt bonds directly. With the help of various products and partnerships, CCRC can offer CRA-eligible lending and investment opportunities. This financial support has led to the creation of more than 48,000 low-cost housing units for vulnerable individuals and families across the state of California. For more information, visit https://www.e-ccrc.org/
About City National Bank:
Founded in 1954 and acting as a subsidiary of the Royal Bank of Canada, City National Bank has established a reputation as a people-first financial service provider with proven success in community investment. Driven by a mission to provide quality banking to a diverse client base across North America, City National Bank has dedicated substantial resources to education, housing, and other people-oriented services. To read more, see: https://www.cnb.com/content/cnb/en/about-us.html
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