KeyBank has maintained a rating of
"Outstanding" from the OCC for 11 consecutive review periods since
the Act's passage in 1977
CLEVELAND, April 10,
2024 /PRNewswire/ -- KeyBank (NYSE: KEY)
has earned its 11th consecutive "Outstanding" rating from the
Office of the Comptroller of the Currency (OCC) on its most recent
Community Reinvestment Act (CRA) exam. KeyBank has maintained a
rating of "Outstanding" from the OCC for 11 consecutive review
periods since the Act's passage in 1977.
"KeyBank's purpose is to help our clients and communities
thrive. Through lending, investing, philanthropy, and volunteerism,
we work together to serve our neighbors and revitalize our
neighborhoods," said Chris Gorman,
KeyCorp Chairman and CEO. "Our long record of 'Outstanding' CRA
ratings is a testament to our enduring commitment to being both a
responsible bank and responsible citizen. As we approach our
200th anniversary, we look forward to continuing to work
with our clients and within our communities to improve access and
opportunity for all."
"This most recent 'Outstanding' rating reflects the work done by
our teammates and partners in the communities we serve," said
Eric Fiala, KeyBank's Chief
Corporate Responsibility Officer. "We are grateful for their
partnership and look forward to working together to continue to
make impactful investments in the places we work and call
home."
KeyBank's recent exam period covered January 1, 2019 – December
31, 2021. Significant investments to support
low-to-moderate income (LMI) communities during the exam period
include:
- KeyBank's quick response to support both clients and
communities through the pandemic was highlighted in the rating
decision. In 2020 and 2021, KeyBank processed 69,000 loans through
the Paycheck Protection Program (PPP), providing more than
$11.2 billion in critical funding to
small and mid-size businesses.
- KeyBank invested over $900
million in tax credits and provided $7.5 billion in loans to support affordable
housing and Community Development Financial Institutions, fostering
economic growth throughout the communities we serve.
- KeyBank awarded more than $43
million in grants in transformative philanthropy to support
stronger communities and improve the quality of life for our
neighbors and neighborhoods.
For more information about KeyBank's community investments,
visit our corporate responsibility
page: https://www.key.com/about/corporate-responsibility/cr-overview.html.
ABOUT KEYBANK
KeyBank's roots trace back nearly 200
years to Albany, New York.
Headquartered in Cleveland, Ohio,
KeyCorp is one of the nation's largest bank-based financial
services companies, with assets of approximately $188 billion at December
31, 2023. Key provides deposit, lending, cash
management, and investment services to individuals and businesses
in 15 states under the name KeyBank National Association through a
network of approximately 1,000 branches and approximately 1,200
ATMs. Key also provides a broad range of sophisticated corporate
and investment banking products, such as merger and acquisition
advice, public and private debt and equity, syndications and
derivatives to middle market companies in selected industries
throughout the United States under
the KeyBanc Capital Markets trade name. For more information,
visit https://www.key.com/. KeyBank is Member FDIC.
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SOURCE KeyBank
