U.S. Bank was nationally recognized by the American Bankers Association (ABA) Foundation for its American Dream Home Loans program with a 2018 ABA Foundation Community Commitment Award. The award was given to U.S. Bank for its efforts in the affordable housing category and will be presented during ABA’s Annual Convention in New York on Oct. 23.
The American Dream program helps consumers with limited resources become home owners, especially low-to-moderate income (LMI) borrowers and in LMI neighborhoods. This loan program is one of only a few on the market that allows for a low down payment and has rehabilitation options available. In 2017, nearly 700 households utilized this program to realize their dream of homeownership resulting in nearly $48 million in mortgages helping to revitalize communities across the U.S. Bank footprint.
“American Dream Home Loans program demonstrates U.S. Bank’s strong and passionate commitment to bettering the lives of its customers and local community,” said Rob Nichols, ABA president and CEO. “Their work embodies the mission of the Community Commitment Awards and they are a truly well-deserved recipient.”
Entries were divided into six categories including affordable housing, community and economic development, financial education, economic inclusion, protecting older Americans and volunteerism. Award winners were chosen by a field of nationally-recognized experts.
“At the end of the day, we want our customers to not only achieve homeownership but feel confident in their ability to improve and maintain the property and repay the loan,” said Lenny McNeill, senior vice president, U.S. Bank Home Mortgage. ”We believe everyone should have a home to call their own. It’s part of our Community Possible giving program focused on closing economic gaps in the areas of Work, Home and Play.”
To learn more about the ABA Foundation Community Commitment Awards, visit aba.com/awards.
U.S. Bancorp, with 74,000 employees and $461 billion in assets as of June 30, 2018, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The Minneapolis-based bank blends its relationship teams, branches and ATM network with mobile and online tools that allow customers to bank how, when and where they prefer. U.S. Bank is committed to serving its millions of retail, business, wealth management, payment, commercial and corporate, and investment services customers across the country and around the world as a trusted financial partner, a commitment recognized by the Ethisphere Institute naming bank a 2018 World’s Most Ethical Company. Visit U.S. Bank at usbank.com or follow on social media to stay up to date with company news.the
Susan Beatty, U.S. Bank Public Affairs & Communications