On Jan. 22, 2021, Regions announced that the company’s solid financial performance in 2020 provided an opportunity to make an additional $10 million contribution to the Regions Foundation.
The Regions Foundation seeks to advance community initiatives that prioritize economic and community development, education and workforce readiness and financial wellness. The Foundation is funded primarily through bank profits. Those funds are invested in communities served by the bank to help promote more inclusive prosperity.
Since 2018, the Regions Foundation has committed over $11 million to support organizations throughout the communities the bank serves.
In 2020, this included substantial grant funding for programs and organizations addressing COVID-19, promoting racial equity and economic empowerment, and providing natural disaster response and recovery.
“Despite a challenging and uncertain year, Regions generated solid profits in 2020. Because of the hard work and commitment of our associates, we have an opportunity to reinvest a portion of those profits to strengthen the communities we serve,” said Leroy Abrahams, head of Community Affairs and president of the Regions Foundation. “This $10 million contribution is an investment in the future and will allow us to do even more to support projects and organizations making life better by addressing challenging and urgent needs.”
The additional $10 million contribution is a continuation of Regions’ journey to provide more targeted support to advance communities. Beginning in 2017, Regions substantially increased funding for the Regions Foundation, taking its endowment to $100 million, and established three distinct community investment strategic priorities: economic and community development, education and workforce readiness, and financial wellness. In 2019, the Regions Foundation reorganized its board and appointed an Executive Director, positioning it to become a more engaged partner for nonprofits that support charitable causes aligned with Regions’ mission.
More information about the Regions Foundation is available in the most recent Community Engagement Report on regions.com.