Photo (Source: U.S. Bank)

BVN Staff |

In support of a continued commitment to African American and diverse communities, U.S. Bank has announced the launch of Access Commitment, a $116 million dollar initiative that supports individuals, businesses, and communities of color.

This groundbreaking initiative has three focus areas including a $25 million dollar fund to support businesses owned by women of color; a financial literacy program tailored for Black communities to promote homeownership and wealth building; and career services initiatives aimed at strengthening the pipeline of diverse candidates and employees in financial services.

The important work will also include projects from across U.S. Bank’s diverse portfolio of businesses. It – builds on the  commitment made by U.S. Bank in 2020 that includes an increased supplier spending, innovative products and services, transformative customer experiences, and long-term partnerships aimed at addressing the racial wealth gap prevalent in the Black community.

This initial launch includes a new $25 million microbusiness fund focused on businesses owned by women of color; a mortgage program focused on homeownership education and hiring; a focus on building sustained wealth as part of U.S. Bank’s wealth management business; Financial inclusion partnerships; supply chain financing focused on diverse businesses; customized employee leadership development; and a change to how U.S. Bank fills open positions within the organization.

“We believe access to capital for minority small business, housing and homeownership and workforce advancement creates opportunities for systemic change,” said Andy Cecere, Chairman, President and CEO of U.S. Bank. “U.S. Bank Access Commitment is our approach to building wealth and supporting individuals and small business owners through a series of business initiatives throughout 2021 and beyond. We are committed to be part of the solution.”