PNC Convenes Inaugural Community Leadership Symposium to Understand Needs

NORTHAMPTON, MA / ACCESSWIRE / January 20, 2023 / PNC's commitment to serving communities starts with learning more about the community, whether through PNC (NYSE:PNC) employees' involvement in their neighborhoods, through the bank's Community Advisory Council or by creating new opportunities to engage, discuss and explore critical issues impacting communities across the bank's footprint.

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PNC | Insights

PNC Convenes Inaugural Community Leadership Symposium to Understand Needs

In its inaugural Community Leadership Symposium in October 2022, the company welcomed leaders in nonprofit, community and public policy spaces from across the country to listen, learn and discuss strategies for accelerating and elevating financial inclusion and economic mobility within PNC's footprint.

The two-day symposium, presented by the Community Development Banking team, will continue annually over the next three years as part of PNC's increased efforts to invest in underserved communities under its $88 billion Community Benefits Plan.

Understanding the Priorities

"We brought together think tanks, community advocates and industry experts to discuss how we can best create equitable opportunities for economic and social mobility, now and for future generations. We are glad to offer a platform where we can network with key stakeholders to better understand community priorities and needs," says Richard Bynum, chief corporate responsibility officer at PNC.

PNC's recently appointed Community Advisory Council joined the bank's Diversity and Inclusion, Community Development, Community Affairs and Supplier Diversity leaders for a half-day session during the symposium to discuss shared progress on PNC's Community Benefits Plan commitments and to solicit feedback for guiding ongoing actions and investments under the plan.

Seventeen council members representing state and national community economic development organizations from 11 local PNC markets pointed to challenges impacting community development and lending efforts in low- and moderate-income (LMI) communities and communities of color.

"Rising housing costs, inflation pressures, ongoing federal interest rate hikes and continued barriers to accessible capital topped the list of challenges," says Reymundo Ocañas, director of community development banking. "We know we are going to have to pay special attention to these issues and think strategically about where we can make meaningful impact with a special lens on support through the predicted recession heading into the first quarter of 2023."