11/03/2017
Citizens Bank Provides $4.7 Million Loan for Affordable Housing Project in Putney, Vermont
BOSTON – Citizens Bank announced today that its Community Development Group is providing a $4.7 million loan to Housing Vermont and Windham & Windsor Housing Trust, Inc. for the construction of 18 new multi-family units and the renovation of seven existing affordable units in Putney, Vt.
“We value our partnership with Citizens Bank and appreciate the Community Development Group’s market knowledge and excellent execution,” said Nancy Owens, president of Housing Vermont. “We look forward to continuing to work with the Citizens team as this project reaches its potential.”
Housing Vermont (HVT) is a nonprofit syndication and development company that was founded in 1988. They create permanently affordable rental housing and they enable investments in economic and community development to benefit Vermonters through local partnerships. They are responsible for producing 5,120 affordable apartments across 171 developments.
Windham & Windsor Housing Trust’s mission is to strengthen the communities of southeast Vermont through the development and stewardship of permanently affordable housing and through ongoing support and advocacy for its residents. To date, WWHT has created more than 890 affordable homes and apartments serving over 1,500 area residents. WWHT also operates a Homeownership Center, which provides financial capabilities and homebuyer education and counseling, as well as low cost loans to homeowners for critical home repairs.
“This project meets a critical need in the community and Citizens’ leadership is another sign of our commitment to Vermont,” said Joe Carelli, president, Vermont and New Hampshire, Citizens Bank.
Citizens is a trusted strategic and financial advisor, consistently delivering clear and objective advice. The Citizens Commercial Banking approach puts clients first by offering great ideas combined with thorough market knowledge and excellent execution to help our clients enhance their business and reach their potential.
For more information, please go to the Citizens Commercial Banking website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $151.4 billion in assets as of September 30, 2017. 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. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. 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 rate products and asset finance. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.
