“Receiving an ‘Outstanding’ CRA rating is a testament to the exceptional expertise and care Truist teammates provide to help meet the unique needs of all the communities we serve through lending, investments and services—including during an especially challenging time as we responded to the COVID-19 pandemic to care for our clients and teammates,” said Truist Chief CRA and Community Development Officer Anthony Weekly. “This recognition embodies our purpose to inspire and build better lives and communities.”
During the examination period of Jan. 1, 2020, to Dec. 31, 2022, Truist:
- Made 845,332 home mortgage, small business, and small farm loans totaling
to support LMI individuals and geographies.$151.9 billion - Originated 7,174 community development loans totaling
, an increase of$16.1 billion 304.6% and154.7% respectively from the prior exam period’s (2017-2019) community development loans. - Made significant use of innovative or complex investments to support community development initiatives, delivering 6,143 qualified investments totaling
billion—significantly higher than the$5.8 provided during the prior evaluation period.$1.8 billion of the investments support affordable housing.$4.4 billion - Responded to exceptional environmental factors and introduced new service delivery models to deliver 12,938 community development service activities, an increase of
55.2% compared to the 8,334 activities reported in the prior exam period.
This examination period was marked by the COVID-19 pandemic. Throughout the pandemic, Truist engaged in extraordinary efforts to help teammates and clients navigate unexpected issues and hardships, achieving the following:
- Truist was the fourth-largest lender by dollars in the Paycheck Protection Program (PPP), funding approximately
across nearly 120,000 loans to assist approximately 80,000 small business clients and help support over 2 million jobs.$16.3 billion - In March 2020, the Truist Cares initiative was launched, providing more than
in aid from Truist, the Truist Charitable Fund and Truist Foundation to help meet basic needs, furnish medical supplies, and address financial hardships across the nation.$50 million - Between March 2020 and December 2021, Truist provided approximately 900,000 COVID-19 related payment relief accommodations to consumers and businesses, impacting approximately
in loan balances.$50 billion
Additionally, as part of its merger of equals in 2019, Truist made a three-year commitment to drive positive change and progress in LMI and majority-minority communities through Truist’s
Truist remains steadfast in its purpose to inspire and build better lives and communities, and along with Truist Foundation, recently announced “Truist Cares for
About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. As a leading
About Truist Foundation
Truist Foundation is committed to Truist Financial Corporation’s (NYSE: TFC) purpose to inspire and build better lives and communities. The Foundation, an endowed private foundation established in 2020 whose operating budget is independent of Truist Financial Corporation, makes strategic investments in a wide variety of nonprofit organizations centered around two focus areas: building career pathways to economic mobility and strengthening small businesses to ensure all communities have an equal opportunity to thrive. Embodying these focus areas are the Foundation’s leading initiatives – the Inspire Awards and Where It Starts. Learn more at Truist.com/Foundation.
About The Truist Charitable Fund
The Truist Charitable Fund (“TCF”) is committed to Truist Financial Corporation’s (NYSE: TFC) purpose to inspire and build better lives. TCF was established as a donor-advised fund and is administered by The Winston-Salem Foundation. TCF invests in local community organizations, focusing on grants that support initiatives and programs in the areas of educational equity, leadership development, career pathways, small business and community services. To learn more about Truist’s purpose, visit Truist.com/who-we-are/about-truist.
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SOURCE Truist Financial Corporation
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