Tremendous Progress. With More to Come. Regions Releases Community Engagement Report
Report shows how Regions Bank and the Regions Foundation are
creating more inclusive prosperity.
Regions Financial Corp. (NYSE:RF) on Wednesday announced the
release of the Making Life Better: 2021 Community Engagement
Report. The report highlights how Regions Bank and the nonprofit
Regions Foundation, along with Regions Bank associates, are taking
steps to make a clear and beneficial difference in helping people,
businesses and communities achieve success.
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Regions Bank and the Regions Foundation
are committed to creating more inclusive prosperity. (Photo:
“Regions Bank and the Regions Foundation serve and support many
of the fastest-growing markets in the country,” said Leroy
Abrahams, head of Community Affairs for Regions Bank and president
and chairman of the Regions Foundation. “As our communities grow,
we are mindful of the fact that, for communities to truly succeed,
all people need an opportunity to take part in that success. This
report reaffirms Regions’ commitment to fostering inclusive
prosperity by highlighting the many ways Regions Bank and the
Regions Foundation are taking meaningful action to address
Regions Bank and the Regions Foundation align their community
engagement initiatives toward three key priorities:
- Advancing economic and community development;
- Supporting education and workforce readiness;
- And increasing financial wellness.
These priorities also complement the commitment of Regions Bank
and the Regions Foundation to advance racial equity and economic
empowerment for communities of color while also helping close the
wealth gap and the digital divide. In addition, the Making Life
Better: 2021 Community Engagement Report provides key updates on
Regions’ commitment to Diversity, Equity and Inclusion.
Among highlights from the report:
Fostering Inclusive Prosperity Through Economic and Community
- Regions Bank invested $4.4 billion in community development
through small-business and small-farm lending, community
development lending, and other community-focused investments in
- In addition to funding programs that foster and sustain
homeownership, the Regions Foundation invested $8 million in two
socially responsible funds that create more economic development
and affordable housing.
- The Regions Community Development Corporation (RCDC) invested
$33 million in new debt and equity commitments for the purposes of
affordable housing development, economic revitalization and
supporting low- and moderate-income (LMI) small businesses and
individuals. The RCDC is a wholly owned subsidiary of Regions Bank
that provides debt and equity financing for projects and entities
with a clear community development purpose.
Fostering Inclusive Prosperity Through Education and
- Regions Bank supported organizations that provide hands-on
trade skills, service-learning opportunities for college students,
and skill-building for people with disabilities.
- The Regions Foundation provided financial support to
Historically Black Colleges and Universities (HBCUs) including
Tuskegee University, Miles College, Alabama State University,
Alabama A&M University and Tennessee State University to help
ensure academic success for their students.
Fostering Inclusive Prosperity Through Financial
- Extensive work was completed in 2021 to expand Regions Bank’s
financial wellness programs to include a series of online seminars
for people with disabilities; further, the bank prepared new online
modules to help people maintain financial stability during a
medical hardship. This work was formally announced in March 2022 as
Regions Bank made a $50,000 contribution to RIP Medical Debt, a
nonprofit that leverages donations to purchase large bundles of
medical debt and then relieve that debt with no tax consequences to
the people who are helped.
- Approximately 1.4 million people received financial education
from Regions Bank in 2021.
- Regions Bank associates led approximately 124,000 financial
wellness workshops in a variety of settings.
Fostering Inclusive Prosperity with a Commitment to
Diversity, Equity and Inclusion
- Regions was once again designated a Military Friendly® Employer
by Military Friendly, an organization that measures the commitment
of companies to create professional opportunities that leverage
military experience. Regions placed in all four categories of the
Military Friendly ratings.
- The bank was recognized as a ‘Best Place to Work for Disability
Inclusion’ after earning a perfect score of 100 on the Disability
- In June 2020, Regions Bank and the Regions Foundation announced
a two-year, $12 million commitment to advance programs and
initiatives that promote racial equity and economic empowerment for
communities of color. By December 2021, both entities combined to
invest $14.6 million in 18 months, surpassing the commitment six
months early. Investments focused on strengthening community
development financial institutions and minority depository
institutions, growing minority-owned businesses, increasing
minority homeownership, reducing the digital divide, and promoting
educational attainment and workforce success.
- Regions Bank received a score of 100% on the Human Rights
Campaign Foundation’s 2021 Corporate Equality Index (CEI), the
nation’s foremost benchmarking survey and report measuring
corporate policies and practices related to LGBTQ+ workplace
“Regions Bank and the Regions Foundation saw significant results
in 2021, and both the bank and foundation are working in 2022 to
build on that progress,” Abrahams concluded. “Through strategically
aligning resources with needs, there is tremendous potential to do
The 2021 Community Engagement Report is available to read and
download here on regions.com. More information about Regions Bank
and the Regions Foundation is available in the Community Engagement
section of regions.com.
About Regions Foundation
Regions Foundation supports community investments that
positively impact the communities served by Regions Bank. The
Foundation engages in a grantmaking program focused on priorities
including economic and community development; education and
workforce readiness; and financial wellness. The Foundation is a
nonprofit 501(c)(3) corporation funded primarily through
contributions from Regions Bank.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $164 billion in
assets, is a member of the S&P 500 Index and is one of the
nation’s largest full-service providers of consumer and commercial
banking, wealth management, and mortgage products and services.
Regions serves customers across the South, Midwest and Texas, and
through its subsidiary, Regions Bank, operates approximately 1,300
banking offices and more than 2,000 ATMs. Regions Bank is an Equal
Housing Lender and Member FDIC. Additional information about
Regions and its full line of products and services can be found at
version on businesswire.com: https://www.businesswire.com/news/home/20220427005077/en/
Jeremy D. King Regions Bank 205-264-4551
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