PNC Community Benefits Plan

Strengthening Our Communities

For many years, our commitment to communities has helped guide our economic empowerment efforts. But we recognize that we must do more to help challenge systemic racism and drive change. We are committed to actively and consciously working toward equity with kindness, compassion and — most importantly — a clear sense of responsibility. 

Launched on January 1, 2022, and scheduled for completion in 2025, the PNC Community Benefits Plan (CBP) is our pledge to help drive that success through $88 billion in loans, investments and other financial support to bolster economic opportunity for low- to moderate-income (LMI) individuals, communities and people of color. 

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The plan builds on our long-standing commitment to economic empowerment by supporting key areas:

Our Progress

As of December 31, 2022, PNC deployed $35.1 billion, nearly 40 percent of the $88 billion committed to help meet community needs and boost economic empowerment efforts in the plan’s first year.

CBP Components Overall Commitments Total Committed as of December 2022
Home Lending $47 billion $24.7 billion
Small Business $26.5 billion $4.9 billion
Community Development Financing $14.5 billion $4.6 billion
Charitable Giving $500 million $120.9 million[1]
Total $88 billion $35.1 billion
PNC Community Benefits Report

Annual Community Benefits Plan Progress Report

Our Action

Supporting Home Lending & Affordable Homeownership

PNC strives to be a part of one of the most important financial decisions a consumer will make — homeownership. That includes doing our best to enhance homeownership opportunities for LMI and minority borrowers. Our flexible products, programs and wide variety of down payment options help customers buy and stay in their homes.

Expanding Financial Access for Small Business

Consistent with PNC’s efforts to reduce barriers to banking and increase access to credit, we have deepened our commitment to small business by collaborating enterprise-wide to help deliver financial solutions that position LMI, minority-owned and micro (less than $1 million in annual revenues) businesses for effective growth and development.

Lending & Investing in Impactful Community Development Initiatives

Investments in affordable rental housing, workforce development, and economic revitalization in LMI neighborhoods and communities of color is a priority for PNC as we work to move all forward financially.

Purpose-Driven Philanthropy

PNC’s commitment to building stronger communities goes beyond loans and investments. Through our national main street bank model, PNC employees deliver time, talent, and financial resources to support local community organizations and nonprofits dedicated to engaging and empowering people and communities in need. Working with PNC’s regional markets, the PNC Foundation's priority is to form partnerships with community-based nonprofit organizations in order to enhance educational opportunities, with an emphasis on early childhood education, and to promote the growth of communities through economic development initiatives.

Providing Financial Access

At PNC, we are committed to helping our customers take the next step forward in their financial lives —wherever they are in their personal journey. We believe that one simple step today can make all the difference for our customers’ financial future.

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From bilingual financial education workshops to educational resources for students, we’re committed to delivering the most relevant insights and learning opportunities for helping customers better understand their finances and make sound decisions.

Mobile branches are able to accommodate nearly all transactions a client can expect in any of our branches, and the regular, year-round visits to low- to moderate-income (LMI) communities build trust and are a clear demonstration of our main street approach to banking.

Read how Mobile Branches provide better banking access and promote economic empowerment

Ensuring financial access also means helping customers avoid losing money by eliminating non-sufficient funds (NSF) fees and enhancing products and services such as PNC's Low Cash Mode®, which helps our customers do just that with the alerts, payments control and extra time to avoid overdraft fees.

Providing financial access for unbanked and underbanked individuals is one of our top priorities. Our Foundation Checking Account meets the Bank On National Account Standards for low costs and fees, no overdraft fees and customer friendly features.

PNC provides homeownership opportunities – including for LMI and minority borrowers – through flexible products, programs and a wide variety of down payment options to help customers buy and stay in their homes.

PNC’s commitment to affordable housing extends beyond homeownership. We also recognize the growing need to build and preserve rental housing that is affordable for LMI households, and to revitalize communities that have seen historic disinvestment.

The work of Tax Credit Solutions (TCS) also advances efforts to promote economic equality by providing affordable housing where it is most needed and supporting New Markets Tax Credit (NMTC) projects that provide critical services in communities lacking investment.

Consistent with PNC’s efforts to reduce barriers to banking and increase access to credit, we have deepened our commitment to small business by collaborating enterprise-wide to help deliver financial solutions that position minority-owned and micro businesses for effective growth and development.

In addition, PNC has a robust Supplier Diversity program, and we are committed to including diverse suppliers in our sourcing processes. We commit to increase spending with diverse suppliers by a minimum of 20 percent by 2025.


Community Advisory Council

Under our national Community Benefits Plan, PNC committed to forming an advisory council comprised of appointed local executives, community leaders, representatives of nonprofit organizations and other community stakeholders from across our footprint. The new national Community Advisory Council was recently formed and will provide ongoing guidance for the bank's community lending, investment, and service efforts in support of PNC's four-year Community Benefits Plan. Its members will meet semi-annually to discuss emerging areas of community needs, and to collaborate with PNC to advance our home lending, small business lending and community investment commitments as outlined in the Community Benefits Plan.

Insights

Communities

Entrepreneurs Talk Obstacles, What Black Businesses Need to Level Up

Four regional launch events capture the spirit of the Howard University and PNC National Center for Entrepreneurship with pop-up shops and conversations.

4 min read

Empowering Prosperity for All

How PNC’s commitments create long-term value for all our stakeholders and drive positive change in the communities in which we live and work.

4 min read

Communities

Measuring the work that impacts the soul of a company

Reflections on data’s essential role in a corporate responsibility program.

3 min read

Customers

PNC Group Focuses on Helping Minority Businesses Thrive

Through its Main Street bank model, PNC helps address disparities faced by minority-owned firms.

3 min read

Communities

PNC Convenes Inaugural Community Leadership Symposium to Understand Needs

Nonprofits, advocates and industry leaders explore solutions to address financial challenges impacting low- and moderate-income communities and communities of color.

3 min read

Communities

PNC Brings $88 Billion Commitment to Life

Six months into its four-year Community Benefits Plan, PNC is making progress by increasing economic opportunities for all.

3 min read

Additional Resources

Annual Community Benefits Plan Progress Report

Get an overview of our Community Benefits Plan – performance, approach and progress toward our four-year plan.

Corporate Responsibility

Get an overview of our progress toward our commitments to all of our stakeholders.

Diversity & Inclusion

Learn how we foster a culture of inclusion – providing equal opportunities for growth and ensuring employees feel valued and supported.

Financial Access

Learn about our commitment to providing customers with convenient products designed for every phase of life or financial goal.

PNC Foundation

Learn how we collaborate with community-based nonprofit organizations in order to enhance educational opportunities, and to promote the growth of communities through economic development initiatives.

Small Business

Learn about how we reduce barriers to banking and how we can serve low- and moderate-income (LMI), minority-owned and micro businesses.

Sustainable Finance

Learn about how we combine Low Income Housing Tax Credit (LIHTC) equity financing with our affordable housing debt solutions.

Tax credit solutions

Learn how our solutions deliver a seamless financing package, making us an industry-leading provider of tax credit solutions nationally.