Grant provides funding for a matched savings club program
Oak Ridge, N.J. – Oct. 18, 2019 – Lakeland Bank is pleased to announce it has awarded a Housing Impact Grant of $20,000 to the Housing Partnership in Dover, N.J. The goal of the Bank’s grant program is to address specific community-focused initiatives and invest in eligible high-performing non-profit organizations that make a strong and lasting impact on our communities.
“Our goal is to help those non-profit organizations whose primary mission is to provide housing related services to low and moderate income families within the Bank’s assessment areas,” said Ellen Lalwani, Chief Retail Officer, Lakeland Bank. “And the Housing Partnership plays a crucial role in providing a pathway for people in the community to purchase a home.”
Lakeland Bank has partnered with the Housing Partnership for many years providing funding as well as colleague volunteers to teach workshops and serve on the organization’s board of trustees. This grant will provide the funding that the Housing Partnership needs to continue its Individual Development Account (IDA) Matched Savings Program, a systematic matched savings club for income eligible households who are two or more years away from homeownership and are working on debt and credit issues. Visit the Housing Partnership website for more information.
“The Housing Partnership is honored to be selected to receive the grant for $20,000 to support our future home buyers who participate in the IDA program,” said Jessica Padilla Gonzalez, Executive Director, Housing Partnership NeighborWorks HomeOwnership Center. “This funding is a key part to helping our working families in reaching their goals of homeownership!”
About the Grant Process
The program is non-competitive and with no public solicitations for applications. Prospective recipients and their programs are nominated for consideration for a grant based upon an internal nomination process designed specifically for this program. Eligible organizations that provide the following services within the Bank’s assessment areas will be considered:
- Financial independence
- Homelessness solutions and affordable housing programs
- Education programs offering financial skill sets
- Youth programs and services including childcare and afterschool programs
- Emergency services including food, shelter and clothing
- Health and well-being services
About Lakeland Bank
Lakeland Bank is the wholly-owned subsidiary of Lakeland Bancorp, Inc. (NASDAQ:LBAI), which has over $6 billion in total assets. With an extensive branch network and commercial lending centers throughout New Jersey and Highland Mills, N.Y., the Bank offers business and retail banking products and services. Business services include commercial loans and lines of credit, commercial real estate loans, loans for healthcare services, asset-based lending, equipment financing, small business loans and lines, and cash management services. Consumer services include online and mobile banking, home equity loans and lines, mortgage options and wealth management solutions. Lakeland is proud to be recognized as one of America’s Best-In-State Banks by Forbes and Statista, rated a 5-Star Bank by Bauer Financial and named one of New Jersey’s 50 Fastest Growing Companies by NJBIZ. Visit LakelandBank.com for more information.