As Part of Bicentennial Celebration, KeyBank Foundation Launches Grant Program for Community Development Financial Institutions

CLEVELAND, April 7, 2025 - In celebration of KeyBank’s Bicentennial, the KeyBank Foundation is proud to announce a special grant program designed to strengthen Community Development Financial Institutions (CDFIs) that play a critical role in advancing affordable housing and small business development. This milestone initiative reflects KeyBank’s enduring legacy of service, resilience, and commitment to fostering economic opportunity and strengthening communities.

Through this program, the KeyBank Foundation intends to award one $200,000 grant to an exemplary CDFI in each of KeyBank’s 27 markets. These grants will provide flexible funding to help CDFIs in achieving their broader mission – whether through expanding services, enhancing infrastructure, or deepening their community impact—ensuring long-term sustainability and continued support for underserved populations.

“CDFIs are at the heart of economic empowerment, creating pathways to homeownership, business growth, and financial stability in the communities that need it most,” said Eric Fiala, Chief Corporate Responsibility Officer at KeyBank and CEO of KeyBank Foundation. “As we celebrate two centuries of service, we are proud to support investing in organizations that share our mission of creating lasting, positive change in the communities we serve.”

To be eligible, applicants must:

• Be a certified CDFI in good standing.
• Operate as a nonprofit or for-profit CDFI headquartered in a KeyBank primary market.
• Have a strong track record of advancing affordable housing and/or small business development.
• Demonstrate the capacity to effectively manage and deploy grant funds in alignment with the Foundation’s goals.

For-profit CDFIs applicants should note that additional reporting requirements related to expenditure responsibility will be required if selected. 

Operating grants will provide flexible and unrestricted funding to support the broader purposes of:

• Affordable housing: Expanding access to safe, affordable housing for underserved populations.
• Small business development: Supporting the growth and sustainability of small businesses, particularly those owned by low-income entrepreneurs.

By offering flexible operating support, this grant is intended to enable CDFIs to apply funds strategically where they are needed most, fostering long-term growth, resilience, and impact.

CDFIs interested in applying must submit applications by May 16. More details, including how to apply and submission requirements can be found here.

ABOUT KEYBANK FOUNDATION 

KeyBank Foundation is a nonprofit charitable foundation that supports organizations and initiatives aimed at improving financial wellness, education, and community development. Through strategic philanthropy, KeyBank Foundation works to create thriving communities and drive meaningful, lasting change.

ABOUT KEYCORP

In 2025, KeyCorp celebrates its bicentennial, marking 200 years of service to clients and communities from Maine to Alaska. To learn more, visit KeyBank Heritage Center. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $187 billion at December 31, 2024.

Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.

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