11/08/2016
Citizens Bank Provides $3 Million Loan for Affordable Housing Development
FALL RIVER, MA – Citizens Bank announced today that its Community Development Lending Group is providing a $3 million loan that will enable the rehabilitation of affordable housing units in Fall River.
NHP Foundation is sponsoring Ships Cove Preservation Partners, LP on the project to rehabilitate 201 units of affordable housing located at 130 Canal St. in Fall River. Incorporated as a nonprofit in 1989, New York-based NHP Foundation, a new Citizens client, has preserved 60 multi-family properties with approximately 12,000 apartment units.
“We greatly value our new partnership with Citizens Bank and appreciate the Community Development Lending Group’s great ideas and quick execution,” said Patrick Fry, Senior Vice President of the NHP Foundation. “Citizens has a very strong commitment to affordable housing and to Massachusetts.”
“This project meets a critical need in the Fall River community and Citizens’ involvement is a sign of our commitment to supporting affordable housing,” said Jerry Sargent, president of Citizens Bank, Massachusetts.
For more information, please go to the Citizens Bank website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $147 billion in assets as of September 30, 2016. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. In Consumer Banking, Citizens helps its retail customers “bank better” with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Citizens also provides wealth management, mortgage lending, auto lending, student lending and commercial banking services in select markets nationwide. In Commercial Banking, Citizens offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance.
Citizens operates through its subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania as Citizens Bank, Citizens Commercial Banking and Citizens One. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com
