Bremer Bank today announced that it received a 2022 Community Commitment Award from the American Bankers Association Foundation in the category of affordable housing, which will be presented during ABA’s Annual Convention on Oct. 4 in Austin, Texas. Entries were submitted in seven categories, and award winners were chosen by a field of nationally recognized experts.
The award specifically recognizes Bremer’s partnership with Twin Cities Habitat for Humanity on the Home Loan Impact Fund, which is Habitat for Humanity’s largest banking partnership in the country. The Home Loan Impact Fund helps make the dream of owning a home a reality for many low- and moderate-income households in the Twin Cities area and addresses racial disparity gaps in homeownership across the metro.
Launched in 2017, the fund has helped nearly 500 Twin Cities families achieve affordable homeownership through Bremer’s $100 million commitment to purchase below-market Habitat mortgages. A renewal earlier this year commits Bremer to purchase up to another $125 million in below-market mortgages over the next three years, which could benefit an additional 500 families.
“We are grateful to the ABA Foundation for recognizing the impact of the Home Loan Impact Fund, a partnership that allows Bremer to live its purpose of cultivating thriving communities in a truly significant way,” said Jeanne Crain, President and CEO of Bremer Bank. “We are enthusiastic to continue our historic partnership and support the important work and accomplishments of Twin Cities Habitat for Humanity.”
“Everyone deserves a safe place to live and call home,” said Twin Cities Habitat for Humanity President and CEO Chris Coleman. “Access to secure, affordable homeownership directly translates to successful and healthy communities. Twin Cities Habitat is enormously proud to stand side-by-side with Bremer Bank through our partnership. Together, we are working to ensure that more families have the opportunity to achieve homeownership in the Twin Cities metro.”
The selection committee chose the winning banks based on the creativity and thoughtfulness of programs that embody the ideals of corporate social responsibility and demonstrate success in measurable terms.
“We received many strong entries this year, but Bremer and its Home Loan Impact Fund stood out among the pack,” said Lindsay Torrico, executive director, ABA Foundation. “It’s wonderful to see an organization identify a need within its community and immediately get to work. We applaud Bremer for its unwavering commitment to community and hope others throughout the industry will be inspired to give back and drive community change.”
To learn more about the ABA Foundation Community Commitment Awards, visit aba.com/awards.