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Community Development Banking

This project highlights the innovative strategies employed by KeyBank to balance mission-driven objectives with a focus on revenue generation through community investment. By understanding the needs of low-to-moderate-income clients, KeyBank has developed culturally relevant financial products and programs that emphasize relationship-building and education. From checkless checking accounts to comprehensive financial education initiatives, KeyBank is committed to enhancing community well-being while ensuring sustainable business practices. This approach not only supports economic growth but also fosters essential partnerships with local organizations.

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Community Development Banking

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  1. Community Development Banking Balancing Mission and Margin

  2. Balancing Mission and Margin • Corporate Commitment • Seeking Revenue • Responsible Community Investment • CRA, Community, Client • Understanding the Segment (LMI) • Research • Client Demands • Client Treatments • Test and Learn • Building a Strategy • Client Centered Products • Culturally Relevant (Respect) • Informed Distribution and Marketing • Relationship Focused • Partnerships

  3. Balancing Mission and Margin • Key Basic Solutions Package • KeyBank Plus in branch checkcashing • Financial Education program • In-branch Financial Education Center(s) • Community-based education • Web-based training • Additional Products and Services • Checkless checking account • Free checking • Savings product • Small line of credit (CRC) • Remittance product • Money orders • Loan assist • Other Planned Services • Automated utility bill payment • Check cashing ATM

  4. Balancing Mission and Margin • Sponsorships with Community and Government Partners • Ohio IDA Program • EITC • Selected Results • KeyBank Plus Check Cashing • 200 Branches • Cleveland, Akron, Albany, Denver, Syracuse, Portland, OR • 17,000 clients • 37 million in checks cashed

  5. Balancing Mission and Margin • Financial Education Program • 5,000 participants since 2004 • Committed to reduce debt $797,932 • Alleviated disputed debt $160,445 • 300 New accounts opened • EITC • Approximately 300 bank volunteers in 14 cities • 1,235 Returns completed • $2,75 million in refunds • Loan Assist • 639 loans for $1.2 million

  6. Thank You!

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