Lakeland Bank Awards Grant to Bergen County’s United Way
January 15, 2019
The grant will help fund the affordable housing project for veterans in Allendale
Oak Ridge, N.J. – Jan. 15, 2019 – Lakeland Bank is pleased to announce it has awarded a $10,000 Housing Impact Grant to Bergen County’s United Way to support an affordable housing program for veterans in Allendale, N.J. The purpose of the Bank’s Housing Impact Grant Program is to make investments directly in eligible nonprofit organizations whose primary mission is to provide housing related services to low and moderate income families and/or geographies within the Bank’s assessment areas.
“We believe Lakeland has an obligation to assist with making affordable housing available for those living in our community who are in need of a safe and decent place to reside,” said Stephen Novak, Executive Vice President. “And I was honored that the Bank selected Bergen County United Way as a recipient for the Housing Impact Grant for the Allendale Housing Project to build affordable housing for veterans in my hometown.”
Bergen County’s United Way and The Madeline Corporation, both non-profit organizations with over 60 years of continuous service to the community, formed a partnership in 2005 to address the housing crisis in New Jersey by providing safe, affordable housing for hard working families, veterans, older adults and individuals with developmental disabilities. Together they manage all aspects of project development including multi-layered financing, site acquisition, new construction, renovation, revitalization, and property management, as well as, service coordination for their special needs projects. They are one of the few developers in New Jersey that provides the full spectrum of affordable housing from supportive housing to affordable homeownership. The Housing Impact Grant will support the construction of two affordable single-family, 3-bedroom homes located on East Crescent Avenue in Allendale for military veterans and their families.
“The Lakeland Bank team has been great friends of our organization and we are honored and grateful to have their generous support for this important project to help our veterans,” said Tom Toronto, President, Bergen County's United Way.
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 $6.3 billion in total assets. The Bank operates more than 50 branch offices throughout Bergen, Essex, Morris, Ocean, Passaic, Somerset, Sussex, and Union counties in New Jersey including one branch in Highland Mills, New York; six New Jersey regional commercial lending centers in Bernardsville, Jackson, Montville, Newton, Teaneck and Waldwick; and one New York commercial lending center to serve the Hudson Valley region. Lakeland also has a commercial loan production office serving Middlesex and Monmouth counties in New Jersey. Lakeland Bank offers an extensive suite of financial products and services for businesses and consumers. Visit LakelandBank.com for more information.