Truist Invests $17 Million in the Future of Charlotte and Communities Across North Carolina

Truist Financial Corporation (NYSE: TFC) and Truist Foundation today announced $17 million in commitments to support affordable housing in Charlotte and career development and economic mobility programs across North Carolina.

The Truist commitment consists of three initiatives:

  • $15 million equity investment from Truist Community Capital in the Housing Impact Fund II to combat displacement, secure affordable housing and facilitate critical services for low-to-moderate income families across Mecklenburg County. It is the second such fund formed by Erskine Bowles, former head of the U.S. Small Business Administration and White House Chief of Staff under President Clinton, and Nelson Schwab, a founding partner of Carousel Capital.
  • $1 million Truist Foundation grant to Per Scholas North Carolina to expand technology skills training in rural North Carolina.
  • $1 million Truist Foundation grant to NPower to provide technology skills and employment opportunities for military-connected individuals and underserved young adults in the Raleigh community.

Read the Truist press release here.

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