Breaking the Cycle of Poverty

Affordable housing is a significant need across much of the Choice Bank market. The lack of affordable housing for families and individuals is a considerable barrier to establishing and maintaining a stable place to call home. The Community Reinvestment Act (CRA) ensures banks are helping to meet these needs in their communities. That is why we are proud to highlight a recent community development loan that supports affordable housing and the positive impact this funding will have on the community.

Choice Bank participated in an $8.5 million loan package, the CAG Minnesota Fund II, to finance the acquisition, necessary repairs, and operation of a portfolio of 283 single-family households located in or around Minneapolis/St. Paul. These households will be sold to low- to moderate-income (LMI) families, made possible through a partnership with 10 different local non-profits focused on finding qualified clients.

“At Choice Bank, we believe that everyone deserves a safe and stable place to call home. This loan package is a testament to our commitment to supporting affordable housing and making a real difference in our communities. We’re proud to partner with local non-profits to help families achieve homeownership and build a brighter future,” John Frtiz, Regional Banking President at Choice Bank

Community Impact & Benefit

• Stability and Security: Families will have access to decent, affordable housing, which will provide critical stability and lower the risk of homelessness.
• Educational Outcomes: Families who previously lacked stable housing can now create a stable environment for their children, contributing to improved educational outcomes and the opportunity for generational change.
• Pride and Confidence: Families will gain intangible value in pride of ownership, confidence, and a sense of accomplishment, contributing positively to their community.
• Economic Revitalization: Communities will see an economic impact through increased local purchasing power and neighborhood revitalization.

Choice Bank remains committed to supporting affordable housing initiatives and positively impacting our communities. Through partnerships and dedicated efforts, we strive to provide stability and opportunities for families in need.

Bettering the places we live is one of our core values and we’re dedicated to supporting the families and businesses in our communities. Learn about our People First history here.