KeyBank Foundation Announces Awardees of $200,000 CDFI Bicentennial Grants

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KeyBank (NYSE: KEY) has announced the recipients of its $5.4 million CDFI grant program as part of its bicentennial celebration. The initiative supports Community Development Financial Institutions across 27 markets, focusing on affordable housing and small business growth.

The program includes 24 CDFI grant awardees spanning multiple regions from Maine to Alaska. In markets without eligible CDFI proposals, KeyBank is establishing $200,000 donor-advised funds. The company, with assets of approximately $185 billion as of June 30, 2025, operates through approximately 1,000 branches and 1,200 ATMs across 15 states.

Over $5 Million in Funding Granted to CDFIs Nationwide

CLEVELAND, July 28, 2025 /PRNewswire/ -- KeyBank Foundation is proud to announce the recipients of its $5.4MM special grant program designed to strengthen Community Development Financial Institutions (CDFIs). In celebration of KeyBank's (NYSE: KEY) bicentennial, the KeyBank Foundation launched a national grant initiative to support CDFIs across its 27 markets, with a focus on affordable housing and small business growth. In markets where no eligible CDFI proposals were received, KeyBank is establishing a $200,000 donor-advised fund to ensuring each of its communities are a part of this historic celebration.

Selected CDFI grant recipients are driving bold, community-rooted solutions in affordable housing, economic inclusion, workforce development, and neighborhood revitalization. Their work is reshaping what is possible for the places and people they serve.

"We are thrilled to announce the awardees of KeyBank's CDFI grant program," said Chris Gorman, Chairman and CEO of KeyCorp. "Their work reflects what it truly means to invest in communities and it is an honor to recognize their impact as part of our bicentennial celebration. These awards are more than a financial investment; they are a statement of partnership and belief in what is possible when we work together to uplift communities."

With more than $5 million invested in this initiative, KeyBank is delivering on its purpose: to help our clients and communities thrive.

"At Key, we believe that being in community is more than just geography, it's about deep relationships and shared progress," added Eric Fiala, Chief Corporate Responsibility Officer at KeyBank, CEO, KeyBank Foundation. "These CDFIs are on the ground every day, expanding opportunity and access for all. It's a privilege to work alongside them, especially as we mark this milestone in our company's legacy."

To celebrate KeyBank's bicentennial, CEO Chris Gorman and senior leaders will visit communities nationwide to recognize awardees alongside clients, teammates, and partners. These events will highlight the organizations' impact and strengthen KeyBank's ties to the communities and clients it serves.

The CDFI Grant Awardees include:

• Akron/Canton/Mahoning Valley | Western Reserve Community Fund
• Alaska | Cook Inlet Lending Center
• Albany | Community Loan Fund of the Capital Region
• Buffalo | Launch New York, Inc.
• Central Indiana | Indianapolis Neighborhood Housing Partnership, Inc.
• Central OH | Freedom Equity Inc
• Cincinnati | Cincinnati Development Fund, Inc.
• Cleveland | Cleveland Development Advisors Community Reinvestment Fund, Inc.
• Colorado | Community Enterprise Development Services
• Connecticut/Western Massachusetts | Capital for Change
• Dayton | Dayton Region New Market Fund
• Eastern PA | Community First Fund dba Finanta
• Hudson Valley/Metro New York | Local Initiatives Support Corporation
• Idaho | NewWest Community Capital, Inc
• Maine | Coastal Enterprises Inc
• Michigan | Invest Detroit Foundation
• Oregon | Portland Housing Center
• Rochester | Neighborhood Housing Services of Rochester, Inc. (NHSR)
• Syracuse | Home Headquarters Inc
• Utah | Community Development Fund of Utah
• Vermont | Rutland West Neighborhood Housing Services inc. dba Cornerstone Housing Partners
• Washington | Seattle Economic Development Fund
• Western PA | Renewable Manufacturing Gateway dbs Community Growth Fund

KeyBank Bicentennial Community Development funds will be established at:

• Florida | Collier County Community Foundation
• Northern Indiana | Northern Indiana Community Foundation of Elkhart County
• Tacoma | Greater Tacoma Community Foundation
• Toledo | Greater Toledo Community Foundation

ABOUT KEYBANK FOUNDATION
KeyBank Foundation is a nonprofit charitable foundation that supports organizations and initiatives aimed at improving financial wellness, education, and community development. Through strategic philanthropy, KeyBank Foundation works to create thriving communities and drive meaningful, lasting change.

ABOUT KEYCORP
In 2025, KeyCorp celebrates its bicentennial, marking 200 years of service to clients and communities from Maine to Alaska. To learn more, visit KeyBank Heritage Center. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $185 billion at June 30, 2025. 
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC. 

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SOURCE KeyBank

FAQ

How much is KeyBank investing in its CDFI Bicentennial Grant Program?

KeyBank is investing $5.4 million in its CDFI grant program, supporting Community Development Financial Institutions across 27 markets.

What is the purpose of KeyBank's CDFI Bicentennial Grants?

The grants aim to strengthen Community Development Financial Institutions with a focus on affordable housing and small business growth, supporting community-rooted solutions in economic inclusion, workforce development, and neighborhood revitalization.

How many CDFI grant awardees did KeyBank select for its bicentennial program?

KeyBank selected 24 CDFI grant awardees across multiple regions, from Maine to Alaska, including organizations like Western Reserve Community Fund, Cook Inlet Lending Center, and Launch New York, Inc.

What happens in markets where KeyBank didn't receive eligible CDFI proposals?

In markets without eligible CDFI proposals, KeyBank is establishing $200,000 donor-advised funds to ensure each community participates in the bicentennial celebration.

What is KeyBank's current asset size as of June 2025?

KeyBank has assets of approximately $185 billion as of June 30, 2025, operating through about 1,000 branches and 1,200 ATMs across 15 states.