BankUnited has a consistent history of providing strong support for affordable housing, economic development, community services and neighborhood revitalization. We have steadily grown our community development lending activities in both Florida and New York, working with nonprofits and for-profit businesses alike, as each plays a role in building and revitalizing communities.
Investing wisely and for the community helps BankUnited build long standing relationships with nonprofit organizations and community partners that will result in long-term economic growth. Our community development investments and contributions support the most pressing needs of our communities, such as affordable housing, financial literacy and education programs, at-risk youth programs, economic development and neighborhood revitalization.
BankUnited proudly supports our local communities through direct financial contributions to nonprofit and community-based organizations through unrestricted grants supporting operating expenses and programs. But more than simply providing charitable donations, we aspire to make long-term investments that create measurable impacts in our communities. In 2015, the Bank made its first Equity Equivalent Investment (EQ2) through a partnership with the Urban League of Broward County. The investment is in support of a revolving loan guarantee program to stimulate access to credit for under-resourced small businesses.
BankUnited is also pleased to share that 100% of its community development contributions address the needs of low- and-moderate income communities.