MIAMI LAKES, Fla. (May 11, 2020) –In this year’s first round of community development funding announced today, BankUnited awarded 36 grants totaling $311,750 to nonprofit groups, many of which are adapting their organizations to provide relief to communities during the COVID-19 pandemic.
“BankUnited is especially grateful for the vital work of our nonprofit partners during these unprecedented times. Many of our community partners are on the front lines of this pandemic, addressing the economic impact of COVID-19 on those at risk of financial instability, and confronting urgent needs that must be attended to for the health and stability of our community,” said Rajinder P. Singh, BankUnited chairman, president and CEO. “We are pleased to continue to provide flexible grant funding to help support their pivotal role in meeting the immediate and long-term needs of our communities.”
Last year, BankUnited granted $1.1 million to 160 nonprofit organizations in Florida and New York, many of which are longtime BankUnited partners whose work helps to meet community needs in the areas of small business and economic development, affordable housing and community development, financial education/foreclosure prevention, and financial education/K-12 education.
Now, according to the bank’s community development and outreach program administrators, in addition to experiencing a significant increase in demand for services, many of those organizations are facing decreased or delayed support from funders. Further straining these nonprofit organizations are increased operating expenses associated with COVID-19, including providing PPE for the protection of employees and clients, IT equipment and technology to support remote services, emergency relief, rent assistance for tenants, and more.
BankUnited’s funding of economic development and neighborhood revitalization organizations, including Branches, Inc., the 79th Street Corridor, Goodwill Industry of Southwest FL, SCORE Manasota, ACCION and others, helps to provide entrepreneurs, micro and small businesses with emergency loan program assistance as well as extended business financial management and counseling.
In the area of affordable housing, organizations receiving grants include: HOPE, Women In Distress, South Florida Community Land Trust, HOMES, Inc., Camillus House and Broward Housing Solutions. These organizations provide and advocate for housing affordability for both renters and homeowners, fair housing protections, special needs housing, including support for homeless and formerly homeless; moratorium of evictions and foreclosures, and more.
Grant receiving organizations focused on adult financial stability and at-risk youth, including Overtown Youth Center, Adopt-A-Family, Catalyst Miami and Dr. Stanley and Pearl Goodman JFS, are supporting additional critical needs due to COVID-19, such as access to food, personal hygiene and household supplies, and technology.
With banking centers throughout Florida and the New York metropolitan area, BankUnited consistently ranks as one of the top regional banks in Florida and the nation and is one of the largest independent depository institutions headquartered in Florida by assets. For additional information, call (877) 779-2265 or visit www.BankUnited.com.
About BankUnited, N.A.: BankUnited, Inc.(NYSE: BKU),with total assets of $33.6 billion at March 31, 2020, is the bank holding company of BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida with banking centers in Florida and New York metropolitan area. For additional information, call (877) 779-2265 or visit www.BankUnited.com. BankUnited can be found on Facebook at facebook.com/BankUnited.Official and on Twitter @BankUnited.