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Community Commitment
Our commitment to our communities goes beyond providing banking services.
We use our expertise and financial support to promote affordable housing, provide small-business lending and advance neighborhood development. These initiatives and investments create opportunities for individuals, families and businesses to fully participate in and share the rewards of building economic stability in our communities. Our work with Community Advisory Councils based in Illinois, Wisconsin and Minnesota focuses on identifying and addressing systemic economic development and equity issues.
Helping Communities Grow Together
Ultimately, Associated Bank can only be successful if the communities in which we operate are also successful. Our company’s Community Commitment Plan outlines what we aspire to achieve over a three-year period in the areas of lending, investments and services for communities of color and low- to moderate-income customers and communities.
Providing Capital to Our Communities
Helping Small Business
Small businesses play a significant role in stimulating economic growth and providing employment opportunities in all of our markets. To help support these companies, we've provided approximately $94 million in loan commitments to small businesses in 2022.
In 2022, Associated provided a total of:
$649 million
in community development loans and investments
TO CREATE AFFORDABLE HOUSING OPTIONS, SUPPORT COMMUNITY SERVICES AND PROMOTE ECONOMIC DEVELOPMENT IN OUR MARKETS.
Residential Lending
Associated Bank is proud to support inclusive lending practices. We are intentional in designing products and services for the diverse needs of our communities. Several of our mortgage products focus on first-time homebuyers and low- to moderate-income (LMI) customers and communities.
In 2022, Associated Bank provided approximately:
$820 million
in residential loans
-OR-
4,330
residential mortgages
TO LMI AND MINORITY CUSTOMERS.
We promote homeownership through our company’s Program for Assisting Today’s Homebuyer (PATH) and other grant programs that provide down payment and closing cost assistance for LMI borrowers. Since its 2017 introduction, we provided more than $21.3 million in subsidy funds and originated 5,309 loans with borrowers who have used PATH funds.
Investments
Community development requires the financial backing of local financial institutions whose support and investment funds can have a direct impact in people's lives.
That's why we created Associated Community Development, LLC.
Associated Community Development, LLC uses its financial resources to bring investment into the underserved areas of the markets where we live and work: the states of Wisconsin, Illinois and Minnesota. Focusing on these markets keeps investment dollars local, while strengthening our communities, building opportunity and changing neighbors' lives.
We strive to establish ourselves as a credible, long-term supporter, partner and investor in affordable housing and commercial development, particularly within our footprint’s low- to moderate-income areas.
We provide financial resources to our communities through investment in Low Income Housing Tax Credits, Historic Tax Credits and New Market Tax Credits that focus on affordable housing, historical building preservation and commercial development in qualified census tracts. We also partner with Community Development Financial Institutions to further the bank’s ongoing community-focused commitments and initiatives.
