Communities of color have historically been underserved by the financial system, contributing to a racial wealth gap that persists. Closing the racial wealth gap is vital to attaining a strong, sustainable economy.
In December, a network of individuals, companies and nonprofits gathered – virtually, of course – to discuss eliminating barriers and enhancing access to economic sustainability at the 2020 National Virtual Black and Latino Economics Summit. The agenda included forums and workshops to inform, educate and encourage mutually beneficial partnerships among participants, presenters and sponsors in order to stimulate economic growth in Black and Latino communities.
We have a role to play, and that is to serve others.
John Turner, Regions President and CEO
Regions was among several financial institutions sponsoring and presenting at the summit, which was organized by the National Minority Community Reinvestment Co-Operative. Head of Community Affairs Leroy Abrahams served as a presenter, interviewing President and CEO John Turner in a video in which they discussed Regions’ commitment to inclusive growth.
“Our mission is to make life better,” said Turner. “We have a role to play, and that is to serve others. We take that responsibility very seriously as we look at the impact we can have on communities.
Over the past few years, Regions has increased funding for the Regions Foundation and established three distinct community investment strategic priorities: economic and community development, education and workforce readiness, and financial wellness.
“Starting back in 2018, we took a fresh look at what we were doing in communities because we believed if we pooled our collective resources, both financial and the allocation of our time, we could have a more meaningful impact by harnessing the power of our organization to really improve communities and to advance inclusive growth,” said Turner.
“We’ve always been involved in communities, but I think now, more than ever, we have the opportunity to have a really positive influence on what occurs and how we continue to see racial equity evolve in the communities that we serve.”