AmSouth Doubles Investment to $1 Million in Florida Community Loan Fund; Affordable Housing, Economic Development for Low-Incom
16 Mars 2006 - 5:52PM
Business Wire
AmSouth Bank (NYSE: ASO) has contributed an additional $500,000 to
the Orlando, Fla.,-based Florida Community Loan Fund (FCLF),
doubling its 2005 contribution and bringing its total investment in
the fund to $1 million. The FCLF is a statewide, federally
certified community development institution. As a private,
nonprofit financial intermediary, the Loan Fund makes flexible
financing available at affordable rates to support the
revitalization of low-income communities through affordable
housing, community facilities, economic development and social
services. Over 70 percent of lending activity supports the
acquisition, renovation or construction of single-family and
multi-family affordable housing, home-ownership and rental
properties. "The social impact of these loans and the technical
assistance to community organizations has been tremendous,
producing more than 1,000 units of housing and delivering essential
social services to thousands of people with special needs," said
Susan Martinez, AmSouth's Florida state head. "Our additional
investment in the fund will help meet the pressing need for
affordable housing in Florida, which has been made even more acute
by multiple hurricanes over the past 18 months." About AmSouth
AmSouth is a regional bank holding company with over $52 billion in
assets, more than 680 branch banking offices and more than 1,200
ATMs. AmSouth operates in Florida, Tennessee, Alabama, Mississippi,
Louisiana and Georgia. AmSouth is a leader among regional banks in
the Southeast in several key business segments, including consumer
and commercial banking, small business banking, mortgage lending,
equipment leasing, and trust and investment management services.
AmSouth also offers a complete line of banking products and
services at its web site, www.amsouth.com.
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