LAS VEGAS, NV – City National Bank today announced that it has donated $4,000 to Neighborhood Housing Services of Southern Nevada (NHSSN) and Women's Development Center (WDC) in support of several affordable housing programs administered through these southern Nevada-based nonprofit organizations. The bank also announced that it will provide these prominent nonprofit groups with volunteer outreach to help increase homeownership in southern Nevada.
The affordable housing programs being supported by the bank include a Home Buyer Education Initiative through NHSSN that helps first time homebuyers and homeowners facing possible foreclosure. Additionally, the bank's support will assist WDC in furthering its mission of providing homeless and low-income families, individuals and seniors in crisis with decent, safe and sanitary housing that is affordable.
“There are a growing number of individuals and families that are struggling today to keep their homes as well as enjoy the American dream of homeownership, which is why we were eager to partner with these two quality nonprofit organizations,” said Larry Charlton, senior vice president and acting Nevada region manager of City National Bank. “It's going to take a concerted effort on the part of both the public and private sectors to help our economy recover, and City National is committed to doing its part to help build stronger communities.”
The bank's support of NHSSN and its Home Buyer Education Initiative will help fund classes and one on one counseling for individuals facing foreclosure, which seems to be receiving most of the attention today according to Donya Monroe, president and executive director of NHSSN.
“Education is the key to reducing the number of foreclosures, especially for first time homebuyers. City National Bank's support of this program will help us greatly reduce the number of foreclosures in southern Nevada as well as increase the number of first time homebuyers now that housing prices are more affordable than ever before,” Monroe said.
WDC has also seen a dramatic increase in the basic services it provides to a growing number of homeless and low-income families and individuals throughout the Las Vegas valley. Rising costs for food, utilities and medical assistance has created a crisis situation among its clients, according to Tina Prieto, deputy director of WDC.
“City National Bank's continued support of our affordable programs is paramount to the success of our organization and its mission. People and families depend on us, especially senior citizens, and without our assistance it puts a greater strain on state and local government resources, which is why we rely so much on the private sector for our support,” Prieto said.
City National contributes financial, in-kind and volunteer assistance to nonprofit institutions and organizations that enhance the quality of life and promote public interest where the company conducts its business. The four main areas of the bank's philanthropic outreach include education, health and human services, community development, and arts and culture. The bank also encourages its senior level officers to serve on the board of directors of at least one nonprofit organization each year.
About City National
City National Bank is the wholly owned subsidiary of City National Corporation (NYSE: CYN). It is backed by $17.7 billion in total assets, and provides banking, investment and trust services through 63 offices, including 15 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada and New York City. The company and its eight majority-owned investment affiliates manage or administer $47.8 billion in client investment assets, including more than $30 billion under direct management.
City National has eight branch offices in Nevada, including four in Las Vegas and one each in North Las Vegas, Reno, Carson City and Minden. The bank also has loan production offices in Reno and Stateline in South Lake Tahoe.
For more information about City National, visit the company's Website at cnb.com.