Community Development Banking

PNC helps to build strong communities and create financial opportunities for individuals, families and businesses through executive leadership, technical expertise, strategic investments, project financing and employee volunteerism. Specifically, PNC’s Community Development Banking group boosts the quality of life in low-income neighborhoods through affordable housing, economic revitalization and customized financial solutions. The work of Community Development Banking is supplemented by PNC’s Tax Credit Capital Group, which is part of Real Estate Finance and provides expertise and financing through federal tax credit program investments. Flexible loans, public-private partnerships and financial education classes help to revitalize communities in need.

Atlanta Neighborhood Development Partnership
PNC Bank has supported the Atlanta Neighborhood Development Partnership’s (ANDP) efforts to serve low- and moderate-income veterans in Metro Atlanta with a $15,000 grant and $250,000 loan. Each year, ANDP offers newly renovated homes for sale at affordable prices to low- and moderate-income veterans who have been honorably discharged.

One recent veteran served by ANDP’s program is Chad, who served five years in the U.S. Army and was deployed twice to Iraq to ensure the safety and freedom of our country. This year, he took a significant step to ensuring the safety and financial future of his two young daughters by purchasing a home through the ANDP Veterans Affordable Housing Program. “With my home purchase, I’m focusing on my future and that of my family. Paying less in mortgage than I was with rent, and a shorter commute means that I won’t have to take as many extra jobs and will be able to spend more time with my girls.”

“PNC’s investment helps us cover the costs of acquiring and rehabbing previously foreclosed single-family homes throughout the region. This support has been critical as we face a decline of federal funding for single-family redevelopment. We are now able to focus on a private development model to rehab single-family homes and help more veterans find safe, affordable housing opportunities,” said John O’Callaghan, ANDP president and CEO.

Bakersfield, California's Park 20th
Some of the most vulnerable residents in Bakersfield, California, have a new lease on life after PNC Real Estate provided key financing for an apartment complex that serves the homeless, including veterans and low-income households.

PNC provided a $4.3 million Low-Income Housing Tax Credit (LIHTC) equity investment in the 56-unit apartment complex called Park 20th. The LIHTC Program provides federal tax credits to incentivize investors to use private equity to develop affordable rental properties.

This investment is managed by PNC Tax Credit Capital.

Park 20th, an apartment complex in Bakersfield, Calif., that serves the homeless.

Baltimore's Open Works
PNC provided more than $4 million in New Markets Tax Credits (NMTC) to help create Open Works, a fabrication incubator for artists, craftsmen and small manufacturers. The incubator, which is housed in a previously-vacant 34,000-square-foot building, features fabrication workshops, including facilities for wood, metal, digital fabrication, digital media, 3D printing, microelectronics and textiles. Supporting up to 250 members at any one time, Open Works features micro-studios for entrepreneurs and artisans, as well as classrooms for youth education and training. Furthermore, PNC will be using the space to teach entrepreneurial financial education workshops to community members. Since opening, the incubator has created six full-time and 10 part-time jobs, as well as 50 contract teacher positions.

Open Works wood shop.

The NMTC investment is managed by PNC Tax Credit Capital. The financial education is managed by Community Development Banking.

Dayton, Ohio’s United Rehabilitation Services
The United Rehabilitation Services’ (URS) mission is to enhance the quality of life for children and adults with disabilities and for other people with special needs. PNC provided a $2 million loan and $2.4 million equity investment, as well as $15,000 in grants, to support the construction of a 21,000-square-foot building that significantly expanded the URS’ early childhood education program’s capacity. The expansion of this building, which is located in a “highly distressed” area under the NMTC Program, has allowed the URS to serve three times as many infants and two times as many toddlers, preschoolers and school-aged children.

The NMTC investment is managed by PNC Tax Credit Capital. The debt is managed by Community Development Banking.

Fort Wayne's Turnstone Center for the Disabled
The 125,000-square-foot Turnstone Center for Children and Adults with Disabilities is transforming the way Fort Wayne can compete for athletic events on a national scale while also meeting local needs. The nearly $15 million expansion has created tourism momentum in the region, with an estimated 253 percent increase in the number of athletes, coaches and family members who visit Fort Wayne and Turnstone to participate in tournaments and camps.

Practice at the Turnstone Center.

PNC provided $3 million in NMTC, as well as a $6 million loan, to help finance the unique facility, which is one of only three U.S. facilities that have achieved the Paralympic Sport Club Excellence Program’s Gold Club Level.

The NMTC investment is managed by PNC Tax Credit Capital. The $6 million loan is managed by Corporate & Institutional Banking.

Michigan's Unity Park
PNC continued its partnership with the Community Housing Network (CHN), which provides housing and housing resources to southeast Michigan’s vulnerable residents. Previously, PNC provided an $8.3 million investment in CHN’s Unity Park project, a blighted Pontiac, Michigan, neighborhood consisting of 32 new homes. In 2016, PNC provided an additional investment of approximately $3 million, as well as $2.6 million in debt financing, which will allow CHN to build twelve new affordable housing units. This now-thriving neighborhood includes a clubhouse and community room, where residents of the eight designated special needs homes receive supportive services to ensure their long-term success.

PNC’s partnership with CHN extends to other Oakland and Wayne County affordable housing projects, including Grafton Townhomes, a 48-unit development in Eastpointe, Michigan. Over the past 10 years, PNC and the PNC Foundation have provided more than $100,000 in sponsorships and grants, as well as financial education, to support the CHN and its residents.

Milwaukee’s Sojourner Family Peace Center
Completed in 2015, Milwaukee’s Sojourner Family Peace Center is the result of a decade of effort to create a nonprofit facility that is capable of meeting the comprehensive needs of domestic abuse victims. The 72,000-square-foot Family Peace Center offers domestic violence victims convenient access to in-house services, including housing, legal and law enforcement services, medical services, a resource center and case managers. Sojourner financed the $22.3 million project through a mix of public and private funding, including a $6.8 million PNC NMTC equity investment.

This investment is managed by PNC Tax Credit Capital.

New Jersey Community Development Corporation
Under the state’s Neighborhood Revitalization Tax Credit program, the New Jersey Community Development Corporation is spearheading the revitalization of the Great Falls Historic District, as well as the Spruce Street corridor. As part of this revitalization, the Park Corner apartments will be built to serve low- to moderate-income residents, increasing the availability of quality affordable housing in Patterson, New Jersey. The apartment building will be constructed on currently vacant land and feature 11 housing units and two 1,500-square-foot retail spaces. PNC financed $950,000 of the project, which cost nearly $4 million.

North Carolina Community Action Association
The PNC Foundation provided $250,000 to support the North Carolina Community Action Association’s Healthy Housing and Neighborhood Beautification Improvement Program, which provides eligible low-income homeowners with external home beautification upgrades, financial literacy and home maintenance education.

PNC’s funding complements energy efficiency upgrades that low-income homeowners receive through Duke Energy’s Helping Home Fund, such as insulation, heating system upgrades, appliance replacements and other health and safety repairs.

United Way of Central Alabama and the University of Alabama’s School of Business
Through a partnership with PNC and the United Way of Central Alabama, University of Alabama at Birmingham (UAB) students combine classroom skills with real-world lessons to provide free income tax filing to lower-income people who are participating in the Internal Revenue Service’s Volunteer Income Tax Assistance (VITA) program.

PNC has provided more than $30,000 in grants to fund equipment, student VITA training and the creation of the Accounting Career Awareness Program, a pilot program to raise awareness of accounting and finance careers for minority high school students. PNC’s support of the VITA program includes free refund check cashing at select branches, prepaid refund cards and financial education programs in the Birmingham community.

Working with PNC and the UAB’s Collat School of Business, the United Way of Central Alabama helped more than 3,000 individuals and families receive nearly $2.5 million in tax refunds.

UAB students and community volunteers from United Way of Central Alabama together donated 2,500 hours in
2015 to complete tax returns for nearly 3,500 taxpayers.

West Palm Beach's The Lord's Place
PNC provides financial education classes to clients of The Lord’s Place, an organization that serves homeless men, women and children by providing housing, life skills and job training. PNC’s classes offer The Lord’s Place’s clients an introduction to banking, money management and budgeting. Through the bank’s Foundations of Money Management program, many residents who previously were unbanked are now able to use convenient, secure and affordable banking services. PNC has provided more than 40 classes and served more than 225 clients over the last two years.

Low-Income Housing Tax Credits

Ensuring access to affordable rental housing for families and seniors throughout the United States is important to PNC. In 2016, PNC invested approximately $376.4 million* in affordable housing equity, and PNC’s Tax Credit Capital Group originated and syndicated an additional $322.7 million in equity in a series of funds. Overall, PNC has more than 9.8 billion in affordable housing equity under management.

*Reflects investments made across and outside of PNC's footprint.

This investment is managed by PNC Tax Credit Capital

The U.S. Treasury's CDFI Fund

In November 2016, PNC received $75 million in NMTCs from the U.S. Treasury's Community Development Financial Institutions (CDFI) Fund, which allocates tax credit authority to Community Development Entities through a competitive application process. Of the 238 applications submitted for the CDFI Fund’s $17.6 billion, a total of $7 billion in awards was granted to 120 applicants.

PNC plans to work with its community partners to allocate its $75 million to critical community development projects.

These tax credits are managed by PNC Tax Credit Capital.

Preservation Fund

In 2016, PNC reached a new milestone in its effort to preserve affordable rental housing for families and seniors. Through the $100 million PNC Affordable Rental Housing Preservation Fund 1, LLC, seven socially responsible institutional investors, including PNC, will acquire “at risk” affordable rental properties to help low- and moderate-income families and seniors stay in their rental homes for years to come.

This fund is managed by PNC Tax Credit Capital.

Making a Difference Through Microloans

 We are committed to supporting small businesses through various financial products and services, including microloan programs.

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in Financing in 2016

to low and moderate-income populations and communities

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Key Investment Tools

Low-Income Housing Tax Credits

The U.S. Treasury's CDFI Fund

Preservation Fund

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Making a Difference Through Microloans

PNC is only as strong as the communities it serves.  With this in mind, we are committed to supporting small businesses through various financial products and services, including microloan programs, which help small business owners and aspiring entrepreneurs obtain the financing they need to start new or grow existing businesses.

Among other organizations, PNC has funded Kiva (Pittsburgh, Baltimore and Philadelphia), a nonprofit that allows people to lend money via the internet to low-income entrepreneurs and students; the Flagship Enterprise Center (Indiana), which provides microloans and Small Business Administration loans to small businesses and entrepreneurs who do not meet traditional bank underwriting guidelines; the International Institute of St. Louis, which extends microloans to support entrepreneurship among refugee women; Great Rivers Community Capital, a credit-building program that focuses on how to best help low- to moderate-income individuals build credit and have high credit scores; Grameen America, which provides microloans to women who live in poverty in the United States and which was founded by Nobel Peace Prize winner Muhammad Yunus; and the National Development Council Grow America Fund, which provides small business loans, typically through municipal small business development programs.

Loans & Investments

In 2016, PNC provided $2.4 billion in financing that benefitted low-and moderate-income populations and communities, including:

  • $1.7 billion in community development loans
  • $272 million in other investments to benefit underserved populations and communities where PNC conducts business
  • $313 million* in equity commitments to construct affordable housing through the Low-Income Housing Tax Credit (LIHTC) Program
  • $65 million to help finance community-supported economic development projects through the New Markets Tax Credit (NMTC) Program
  • $35 million to restore historic properties and return them to productive use through the Historic Tax Credit (HTC) Program
*Reflects Community Reinvestment Act-eligible investments made across PNC's footprint.

Smart Growth America

In partnership with PNC, Smart Growth America’s Planning for Successful and Equitable Revitalization program helps revitalize communities to benefit families and small businesses of all income levels. Three communities will receive this first round of assistance:

  • Birmingham, Ala.: Working with REV Birmingham, an economic development organization, this project aims to help independent retailers and small businesses in the Woodlawn neighborhood remain in their existing locations and expand their offerings as the area grows.
  • Jersey City, N.J.: This project is helping the Jersey City Redevelopment Agency identify the obstacles faced by low- and moderate-income rental applicants and develop a methodology to analyze the supply of and demand for low- to moderate-income housing.
  • Raleigh, N.C.: This project is working with the Department of City Planning to create equitable development near planned bus rapid transit stations, helping revitalize neighborhoods and ensuring that the new service accommodates long-term residents

Smart Growth America

In partnership with PNC, Smart Growth America’s Planning for Successful and Equitable Revitalization program helps revitalize communities to benefit families and small businesses of all income levels.

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People, Planet, Place & Performance (p4)

As part of its commitment to strengthen the communities it serves, PNC is lending expertise and leadership to p4, a Pittsburgh-based initiative that aims to ensure that new growth benefits people, enhances a sense of place, contributes to a healthier planet and achieves the highest level of financial and social performance.

Recognizing that not all residents benefit from a city’s revitalization, this initiative developed a system of metrics to inform and improve public investments in development projects. Moving forward, such investments should support projects that promote equitable and sustainable growth. PNC is a key partner, working with other Pittsburgh-based corporations, as well as the City of Pittsburgh and The Heinz Endowments, to help identify and address issues including but not limited to transportation, urban development, social equity, and public health.

This initiative touches on so many of the areas in which PNC already is invested, from LEED construction and environmental sustainability to affordable housing and early childhood education. Its mission is very much aligned with that of PNC in terms of creating equitable and inclusive communities in which everyone has an opportunity to prosper. Furthermore, both p4 and PNC hope that this initiative and its successes can be applied to other cities, including those across PNC’s footprint.

People, Planet, Place & Performance (P4)

We are lending expertise and leadership to p4, a Pittsburgh-based initiative that aims to ensure that new growth benefits people, enhances a sense of place, contributes to a healthier planet, and achieves the highest level of financial and social performance.

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Together, We Prosper
2016 Corporate Social Responsibility

Summary of Our Efforts »
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Recognized for our Efforts

Corporate Awards & Recognition

High-Performance Franchise

  • Most Admired Companies (superregional banks), Fortune (2017)
  • Fortune 200 company (2016)

Diversity & Inclusion

  • "Best-of-the-Best" Top 30 Corporations for Inclusion, National Gay & Lesbian Chamber of Commerce/National Business Inclusion Consortium (2016)
  • One of the Best Places to Work for LGBT Equality, Human Rights Campaign (2016)
  • Top 50 Companies for Executive Women, National Association for Female Executives (2016)
  • Diversity Leader Award, Profiles in Diversity Journal (2015)
  • Top 10 Regional Companies for Diversity, DiversityInc (2016)
  • Top 25 U.S. ERG & Diversity Councils, Association of Diversity Councils (2015)
  • Top 50 Employers, CAREERS & disABLED (2015)

Employer of Choice

  • Great Workplace Award for Employee Engagement, Gallup (2016)
  • 100 Best Companies for Working Mothers, Working Mother (2016)
  • 2020 Women on Boards Winning "W" Company, 2020 Women on Boards (2015)
  • Best Employers for Healthy Lifestyles®, National Business Group on Health® (2015)

Military & Veteran Support

  • Top 100 Military-Friendly Companies, G.I. Jobs (2016)
  • Top Veteran-Friendly Companies, U.S. Veterans (2016)
  • Top 25 Military-Friendly Supplier Diversity Programs, National Association for Veteran-Owned Businesses (2016)


  • Community Reinvestment Award, Excellence in Cross-Sector Community & Collaboration Development for PNC’s Grow Up Great Early Education Initiative (2014)
  • U.S. Chamber of Commerce Foundation Corporate Citizenship Awards, Best Commitment to Education (2014)
  • Outstanding CRA Rating


  • Net-Zero Energy Certification (PNC's net-zero energy branch in Fort Lauderdale, Fla.), International Living Future Institute (2016)
  • Game Changer Award for Project Finance Innovation, Canadian Solar Industries Association (2016)
  • Leader in Climate Disclosure, Carbon Disclosure Project (2015)

Important Legal Disclosures & Information

Lending products and services are provided by PNC Bank, National Association and require credit approval.