Homeport is the single largest developer of affordable housing in Central Ohio with more than 6,000 low- and moderate-income residents, half of whom are children. High quality partnerships help us in promoting and providing stability and opportunity to our residents. PNC is the third in our partner profile series.
HOMEPORT: Can you tell us about PNC, its history? It seems long and significant.
PNC: With roots in commercial banking that date back to the 1800s, PNC has grown to be one of the leading financial services organizations in the country. And, the company is consistently working to find opportunities to better serve customers, employees, shareholders and the communities in which it operates.
PNC is the product of a merger of two distinguished Pennsylvania banks in 1983: Pittsburgh National Corporation and Provident National Corporation based in Philadelphia. Each of these institutions had served diverse markets so that merger creating PNC also became the largest bank in Pennsylvania, where we are headquartered.
Although we are the sixth largest bank in the U.S., we consider ourselves a Main Street bank, we take pride in how we relate to and serve our employees, customers and communities and are committed to making business decisions that positively impact our stakeholders. We support the communities where we conduct business through job creation, local infrastructure, small business loans, financial education and sponsorships. These financial services, along with our philanthropic giving and volunteerism, create a series of benefits that strengthen communities.
HOMEPORT: What is PNC’s connection to the affordable housing industry?
PNC: PNC is connected to the affordable housing industry in many ways. Among them is a longstanding relationship with Homeport.
Our Community Development Banking team specifically works to improve the quality of life for individuals, families and businesses in low- and moderate-income neighborhoods through affordable housing, community development lending, economic development, financial education and customized financial solutions. We provide loans and investments to parties that develop and build affordable housing and community facilities. These parties include community development financial institutions, community development organizations, for-profit developers, faith-based organizations and any group serving low and moderate-income individuals and communities. We can also assist groups in working with government agencies and locating other sources for technical, financial or investment support
In addition, PNC supports workforce development programs to help low- to moderate-income people become financially stable, which will help get them on the path to buying a home.
HOMEPORT: How does an organization like Homeport fit into PNC’s mission?
PNC: In Columbus, PNC strives to help improve central-city neighborhoods to strengthen the region as a whole. We can accomplish that goal by supporting initiatives in areas such as affordable housing, education and workforce development; and by partnering with strong organizations such as Homeport.
PNC’s partnership with Homeport spans over 20 years. We have provided volunteer support, board leadership and financing developments such as Kimberly Meadows. In the most recent project, PNC provided a $20,000 grant to Homeport to establish workshops to help low- to moderate-income individuals in central Ohio prepare to buy a home. As part of this series, potential homebuyers receive counseling on the home buying process and training in areas such as financial planning, savings, credit, taxes and insurance.
In addition to Homeport, PNC partners with organizations such as the YMCA and Columbus Public Library as part of our signature program Grow Up Great, a $350 million initiative to enhance early learning.
HOMEPORT: What does PNC envision as its key characteristics, role and impact 10 years from now?
PNC: PNC is committed to the communities it serves, and this commitment will continue to strengthen over the next decade. We are entering a new era in history, one filled with promise and positive momentum of strategic projects and developments that will create new opportunities for all segments of our market, including the low and moderate income communities. The strength of our company is largely dependent upon the strength of the communities where our customers and our employees live and work. At PNC, we’ve always understood the connection between prosperous communities and our success. That is why PNC and its employees invest time, energy, and resources to support efforts that improve quality of life and bring economic and cultural vibrancy to the communities in which we operate.