New Haven Bank to Open New Branch in West Haven
New Haven Bank will open its second branch in West Haven in late October to early November as part of its goal to aid underserved communities.
New Haven Bank will open its second branch in West Haven in late October to early November as part of its goal to aid underserved communities.
Two local banks are seeking state permission to expand their branch footprints.
New Haven Bank made charitable donations in 2022 of more than $50,000, its largest annual donation amount since the bank’s founding in 2010.
Several Connecticut-based community development financial institutions (CDFIs) will receive more than $12 million in COVID-19-related funding from the U.S. Department of the Treasury. The grants are part of a $1.25 billion program to provide COVID-19 relief funds to 863 CDFIs nationwide.
New Haven Bank has received the highest rating of “outstanding” on its latest Community Reinvestment Act (CRA) Performance Evaluation, the bank said in a statement.
As CEO of New Haven Bank, the state’s only FDIC-insured CDFI, Diane Burke is leading the a crucial part of the state’s financial system as the coronavirus’ economic shocks buffet Connecticut.
After processing almost 30,000 Paycheck Protection Program loans in one week, Connecticut lenders continued to work through thousands of applications. But even as community banks and credit unions have worked to provide businesses with this critical resource during the coronavirus pandemic, not all small business owners can benefit from the program.