Special to Atmore News
United Bank’s President and CEO Robert R. Jones, III announced July 12 that United Bank has been awarded the 2017 Bank Enterprise Award (BEA) by the U.S. Department of Treasury.
Administered by the Community Development Financial Institution (CDFI) Fund, the BEA program provides monetary awards to banks that have successfully demonstrated an increase in their investments in census tracts with at least 30 percent of residents having incomes less than the national poverty level and 1.5 times the national unemployment rate. Since the inception of the BEA Program in 1994, total awards exceed $470 million. United Bank has been honored to receive this annual award consecutively for more than seven years.
“As a multi bottom line company, we have a strong passion for connecting people and resources,” Jones said. “This award announcement further amplifies and strengthens the importance of our work and our unwavering pledge to the creation of resources to help businesses grow and families succeed.”
With these funds, United Bank continues to commit resources to build businesses, create jobs, develop affordable housing and promote homeownership in impaired communities, accelerating community revitalization.
In the (FY) 2017 BEA Program round, 119 applicants submitted applications requesting $131.7 million in awards. The CDFI Fund awarded nearly $22.8 million in BEA Program Awards to 113 institutions with a maximum award amount of $233,387. Of the 113 BEA Program award recipients, 85 received the maximum award.