FirstBank Commits $30 Million to Help Low Income Families Purchase Homes

Lakewood, June 07, 2017 (GLOBE NEWSWIRE) — FirstBank, Colorado’s second largest bank and one of the nation’s largest privately-held banks, announced it has committed to purchasing up to $30 million in mortgages from Habitat for Humanity’s Colorado affiliates over the next three years. This represents one of the largest commitments Habitat for Humanity’s Colorado affiliates have received, and it will provide them needed liquidity to build more homes for low-income families as well as provide interest-free mortgages and down payment assistance. 

“Habitat for Humanity brings people together to build a community, one house and one family at a time,” said Stefka Fanchi, executive director of Habitat for Humanity of Colorado. “With FirstBank’s commitment, we can transform hundreds of Colorado families in dozens of communities. Partnerships like these help us get closer to our vision, where everyone has a place to call home.”

As part of its ‘banking for good’ philosophy and ongoing community giving, FirstBank supports numerous affordable housing organizations, and has been a longtime supporter of Habitat for Humanity. In addition to donating more than $200,000 since 2010 to Habitat for Humanity affiliates in Colorado, Arizona and California, FirstBank employees regularly volunteer to help build Habitat for Humanity homes, and several of the company’s officers serve on the boards of local Habitat for Humanity affiliates.

“FirstBank is proud to help finance affordable housing projects in partnership with housing authorities and local nonprofits like Habitat for Humanity,” said Jim Reuter, CEO of FirstBank. “It is an extraordinary organization that has made significant, tangible contributions to many communities by providing safe, affordable housing to deserving families, which we support wholeheartedly.”

FirstBank is recognized as the second most philanthropic company in Colorado, donating more than $4 million to nonprofits in 2016, bringing its charitable total to $57 million since 2000. The company helped launch and continues to be the Corporate Partner of Colorado Gives Day, which has raised more than $145 million for nonprofits since inception. Habitat for Humanity’s Colorado affiliates have raised over $1.3 million through the Colorado Gives Day program.

Most of the company’s officers also serve on boards and committees of nonprofit organizations, and the bank provides its employees two days paid time off annually to support causes they are passionate about. To learn more about FirstBank, visit efirstbank.com.

About FirstBank

FirstBank operates more than 115 locations in Colorado, Arizona and California. FirstBank is the largest locally owned banking organization in Colorado, serving more than 750,000 customers. Since 2000, FirstBank has contributed more than $57 million and thousands of volunteer hours to charitable organizations. FirstBank is unique in that a majority of its stock is owned by management and employees. For more information, go to efirstbank.com.

About Habitat for Humanity of Colorado

HFHC is a nonprofit 501c3 whose purpose is to build the capacity of affiliates by increasing access to resources, facilitating communication between affiliates and the community, and providing statewide leadership toward the creation of thriving communities that support healthy families. Habitat for Humanity builds safe, decent affordable homes with low income families who purchase the home with an affordable mortgage. Habitat for Humanity affiliates across Colorado are building in 45 communities, and to date have built over 2000 homes in partnership with families who would otherwise be unable to obtain the security, stability, and hope that homeownership can provide. For more information about Habitat for Humanity, please visit www.habitatcolorado.org.

 

 

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Member FDIC

 

Equal Housing Lender

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/6f5e1713-52a1-4adb-a086-2a9013cc6711

CONTACT: Chandra Brin
FirstBank
303-2351402
[email protected]

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