PNC Bank recently added nine community development executives to its national Community Advisory Council (CAC).
“Community Advisory Council members have been instrumental in the successful implementation of the bank’s Community Benefit Plan, which has deployed nearly $56 billion in investments and loans to support communities nationwide since launching in 2022,” Richard Bynum, PNC chief corporate responsibility officer, said. “The council’s newest advisory members give us an even greater opportunity to engage with the communities we serve and strengthen our impact in affordable housing and other areas of critical need.”
PNC’s Community Benefits Plan will provide $88 billion in loans and investments and other financial support to low- and moderate-income individuals, communities and people of color from 2022 to 2025.
The Community Advisory Council provides the plan with ongoing guidance. It meets twice annually to advise the bank on critical issues impacting society and to help inform community lending, investment and service priorities.
The council is composed of community and business leaders and representatives of nonprofit organizations with experience in community investment lending and services, small business development and economic development. The addition of the nine new members, representing seven states, brings total membership to 20.