KeyBank Donates $150,000 to Over-The-Rhine Community Housing During Its New Downtown Cincinnati Branch Grand Opening
CINCINNATI, Ohio, December 13, 2021 /3BL Media/ – KeyBank held a ribbon-cutting and grand opening celebration at its newest branch in the lobby of the Great American Tower building at 301 East 4th Street in downtown Cincinnati. The speaking program included remarks by KeyBank Market President Michael McCuen on Key’s strong commitment to downtown Cincinnati and the announcement of a 3-year, $150,000 grant from KeyBank Foundation to Over-The-Rhine Community Housing (OTRCH) to support the organization’s focus on environmental equity to OTR’s low-income residents.
“At KeyBank, we know that a healthy, vibrant, diverse and dynamic downtown is beneficial to both community and economic development on so many levels,” said McCuen, during his remarks. “We are strongly committed to supporting the economic vitality of this city, which is why it is so important to us to have a flagship branch in the heart of Cincinnati’s central business district.”
McCuen went on to recognize OTRCH as a long-time community partner who, “for more than forty years, has been providing affordable housing, employment opportunities and sustainable neighborhoods that value low-income residents and benefit our entire community.”
Specifically, Key’s grant will fund a replacement heating pilot for one of OTRCH’s historic residences, The Fulda, to update its aging boiler system to modern day heating and cooling standards for its residents. This is the first of a series of environmental upgrades and green initiatives planned for OTRCH’s properties. The check was presented to OTRCH Executive Director Mary Burke Rivers.
“Utilities are an important component of the affordable housing challenge,” said Rivers. “Rents are too high for many of our neighbors; however, even with affordable rents, utilities can create havoc with a household budget. This grant will allow us to change out an inefficient heating system and replace it with high efficiency electric heating and cooling that will have the double benefit of reducing our neighbors’ housing costs and be better for the environment. Thank you to Key Bank for understanding the challenges and for making these funds available to address affordable housing and equity.”
As part of Key’s National Community Benefits Plan, established in 2017, KeyBank has already made more than $1.1 million in transformational philanthropic investments in Cincinnati neighborhoods through KeyBank Foundation grants to local nonprofit organizations.
The Grand Opening festivities included free coffee and pastries from Kidd Coffee, also located in the Great Amercan Tower lobby, holiday music from members of the Cincinnati Symphony Orchestra, pizza from KeyBank business client LaRosa’s Pizza, and a guest appearance from iHeart radio personality Jim Scott.
The new branch, which is a relocation of staff and operations from its previous 4th & Walnut location, has been named the Queen City branch and includes a walk-up ATM and after-hour depository in a highly visible and convenient location in the heart of Cincinnati’s business district. The newly redesigned interior is ADA compliant, improving accessibility for both current and new clients.
KeyCorp's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $187.0 billion at September 30, 2021. 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 1,000 branches and approximately 1,300 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 is Member FDIC.
About KeyBank Foundation:
KeyBank Foundation serves to fulfill KeyBank’s purpose to help clients and communities thrive, and its mission is to support organizations and programs that prepare people for thriving futures. The Foundation’s mission is advanced through three funding priorities – neighbors, education, and workforce – and through community service. To provide meaningful philanthropy that transforms lives, KeyBank Foundation listens carefully to understand the unique characteristics and needs of its communities and then backs solutions with targeted philanthropic investments. KeyBank Foundation is a nonprofit charitable foundation, funded by KeyCorp.
About Over-The-Rhine Community Housing
OTRCH is a non-profit community development organization that provides a wide spectrum of affordable and supportive housing options with life-changing programs that help low-income residents in Over-the-Rhine succeed. We develop and manage resident-centered affordable housing to build inclusive community and benefit low-income residents. For over four decades, OTRCH has never wavered from our commitment to: build a sustainable, diverse neighborhood that values and benefits low-income residents, create an inclusive community in this evolving historic district, and advocate on behalf of its residents. Our vision is quality stable housing for all in a socially, racially and economically inclusive community.