The U.S. Department of Treasury has decided to send $355,000 to New Haven’s Start Bank.
The money comes in the form a Bank Enterprise Award from the Treasury’s Community Development Financial Institutions Fund. The Fund is awarding a total of $17,9 million in such awards around the country to honor banks to support affordable house and small-0business loans. Start was the only New England bank to win one this year.
In a press release, Start President and CEO Maureen Frank called the award a reflection of the bank’s work in “providing loans or supporting projects in low-income neighborhoods, servicing customers in our branch, [and] providing financial literacy training for local nonprofit organizations.” The release quoted Start Board Chair Rolan Young Smith as saying the award “validates the impact Start Bank has had, not only as a full-service commercial bank for larger companies and organizations, but for small businesses and the community as well.”
