U.S. Bank donates $150,000 to University District as part of its $15 million Rebuild and Transform Fund

UA Little Rock social work graduate Cadie Foscue bought her house in the Oak Forest neighborhood through the University District first time homebuyer program. Photo by Ben Krain.

U.S. Bank has awarded the University District Development Corporation (UDDC), based at the University of Arkansas at Little Rock, a three-year $150,000 grant to support programs that provide affordable housing.

The grant is part of its $15 million U.S. Bank Foundation Rebuild and Transform Fund, addressing rebuilding in corridors impacted by social unrest and systemic racial inequities in small business, housing and workforce advancement. The fund is part of the bank’s previously announced $116 million commitment to address social and economic inequities.  

“Our focus is on listening to and learning from community leaders and responding to critical needs,” said Marcos Hernandez, community affairs manager for the Little Rock Region at U.S. Bank. “Today we are proud to share the details of our philanthropic giving to 10 additional markets across the country that, historically, experience low economic mobility. We are investing in organizations led by people of color and providing general operating funds because we trust community leaders to know how, when and where to use these funds for the greatest impact.”

University District Development Corporation is a nonprofit organization dedicated to increasing affordable housing and making neighborhood improvements within the University District. The grant funds will be used to support affordable housing and community development activities in University District.

“To address the civil unrest that we’ve seen in our community, UDDC will continue its efforts to improve the viability of housing stock and amenities in the University District,” said Barrett Allen, UDDC executive director. “This gift from U.S. Bank allows us to get more families into homes and strengthen a sense of community.”

University District is one of 48 organizations across the country receiving funding from the U.S. Bank Foundation Rebuild and Transform Fund. In the Little Rock area, U.S. Bank also donated a grant of $100,000 to Positive Atmosphere Reaches Kids (PARK), which will use the grant to support youth and mentorship initiatives.

About U.S. Bank

U.S. Bancorp, with more than 70,000 employees and $547 billion in assets as of June 30, 2020, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The Minneapolis-based bank blends its relationship teams, branches and ATM network with mobile and online tools that allow customers to bank how, when and where they prefer. U.S. Bank is committed to serving its millions of retail, business, wealth management, payment, commercial and corporate, and investment services customers across the country and around the world as a trusted financial partner, a commitment recognized by the Ethisphere Institute naming the bank one of the 2020 World’s Most Ethical Companies. Visit U.S. Bank at www.usbank.com or follow on social media to stay up to date with company news.

In the upper right photo, UA Little Rock social work graduate Cadie Foscue is one of the Little Rock residents who bought her house in 2019 through the University District first time homebuyer program. Photo by Ben Krain.

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