Banking
Investing Where We Live and Work
Barclays’ Community Reinvestment Act initiatives receive “Outstanding” performance rating by the FDIC CONTRIBUTED BY BARCLAYS
AS WE LOOK BACK over the past four years, our nation has evolved in many ways. From the challenges we all faced through the pandemic, to what many viewed as a turbulent road to recovery, one thing has not changed: Barclays’ commitment to the state of Delaware and the people who live and work in the First State. Of the many contributions to the state that we’re most proud is the difference we are making through our Community Reinvestment Act (CRA) initiatives. Barclays’ CRA activities allow us to have a meaningful impact on the communities in which we live and work. We focus on the areas that best use our expertise as a financial services organization, with Barclays colleagues playing an active role in helping to support our communities. Through these efforts, we focus on affordable housing and workforce development; provide financing for community and economic development; and support financial education, diversity and equality, and healthy food access. Central to Barclays’ strategy is the belief that a strong, inclusive economy means a better economy for everyone. A diverse and skilled workforce helps businesses thrive and gives individuals, families, and communities the opportunity to achieve financial independence and security. Our CRA initiatives break down barriers for employers, job seekers, and employees looking to move up; all while building a stronger and more vibrant economy for Delaware.
FDIC: OUTSTANDING RATING Following a 2023 review of Barclays’ CRA initiatives, the Federal Deposit Insurance Corporation (FDIC) provided Barclays with an “Outstanding” performance rating—the highest rating that a bank can receive. This is the third consecutive review by the FDIC in which Barclays received such a rating, and it is a testament to the bank’s commitment to supporting our communities through CRA activities.
2023 HIGHLIGHTS OF BARCLAYS CRA ACTIVITIES Solomon Hess SBA Loan Fund: Barclays committed $2 million to the Solomon Hess SBA Loan Fund for the acquisition of community development loans where the underlying small business borrower is 50
minority-owned and located in a low or moderate income or otherwise economically distressed census tract. HBCU Week Scholarship Fund: Barclays is contributing $300,000 that will support the HBCU Week Foundation and endow four-year college scholarships of $15,000 over the next four years to five historically black colleges and universities (HBCUs): Delaware State University, Hampton University, Spelman College, Morehouse College, and Howard University.
Photo by Fifth Media Investment in United Way of Delaware Minority Small Business Fund (MSB): This will be our third year funding this program. Since 2021, Barclays has invested over $2.3 million in the MSB Fund with a goal to support 100-plus local minority-owned and operated businesses. EastSide Charter School Stem Hub: Barclays is reinforcing its commitment to EastSide Charter School with a $1 million donation over 2021-24 to support the growth of EastSide’s mentoring program to serve more students, provide for the expansion of the school, and assist in the construction of its new state-of-the-art STEM Hub. In the 24 years since we opened the doors to our Wilmington headquarters, Barclays has grown to become the fifth largest co-branded credit card issuer in the United States. Along with this tremendous growth, we have worked tirelessly to support businesses and neighborhoods throughout the First State, and we are committed to continuing our support for the communities where we live and work. n November/December 2023
| DELAWARE BUSINESS
