Pasadena-based CIT Bank has announced a $350,000 grant in support of Neighborhood Housing Services of Los Angeles (NHS), the largest non-profit affordable homeownership provider in Southern California.
It represents the second such grant to NHS Los Angeles and will provide affordable lending, financial education, and real estate services to 4,500 low- and moderate-income residents across Los Angeles County, a CIT Group statement said.
“CIT is pleased to partner with NHS to build stronger, more equitable communities across Southern California,” said Steve Solk, president of consumer banking for CIT. “NHS plays a critical role in empowering thousands of local residents to achieve economic prosperity and a better quality of life.”
CIT’s commitment will support NHS’s sustainable communities initiative, which aims to develop new single- and multi-family housing units, provide financial assistance for families at risk of foreclosure, and offer homeowner counseling services to local residents.
“NHS is grateful for CIT’s partnership as we work to drive transformative change across the region and serve neighborhoods of opportunity,” Lori Gay, President and CEO of NHS Los Angeles,” said. “This grant furthers our ability to revitalize communities, broaden access to resources and improve the quality of life for thousands of local residents.”
CIT, the banking subsidiary of CIT Group Inc., provided a first grant to NHS Los Angeles in 2017, for the sustainable communities initiative. As a result, approximately 3,669 homeowners received financial counseling and 259 affordable loans were originated and closed.
CIT’s banking subsidiary is based in Pasadena and includes the OneWest Bank Southern California branch network.
For more information on CIT, visit www.cit.com.
To learn more about NHSLA and the sustainable communities initiative, visit www.nhslacounty.org.