DALLAS, Nov. 8 /PRNewswire-FirstCall/ -- In a major community contributions announcement, Comerica Bank's Texas Community Reinvestment Act (CRA) group is earmarking more than $280,000 for eight Texas nonprofit community organizations. These organizations share Comerica's commitment to providing financial literacy training in each of the markets Comerica serves in Texas.
(Logo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO ) The organizations are: -- ACCION Texas is a San Antonio development corporation that provides credit to small businesses without access to loans from commercial sources. Through loans and services, ACCION Texas helps micro- entrepreneurs strengthen their businesses, stabilize and increase their incomes, create employment, and contribute to community economic revitalization. -- Business Invest in Growth (BIG) is an Austin micro-lending organization that assists small businesses to grow successfully by providing comprehensive education, tailored business counseling and flexible loans. -- Kym's Kids is a Dallas grassroots community organization that reaches out to help low- to moderate-income and homeless children. The organization provides charitable, benevolent and educational services to families and children, ages newborn through 19 years. -- Money Management International (MMI) is a Houston nonprofit community service organization that provides confidential financial counseling guidance, free consumer credit counseling services, educational resources and debt management assistance. In business since 1958, MMI helps consumers find the tools and solutions they need to achieve financial freedom. -- Neighborhood Recovery Community Development Corp. is a Houston corporation promoting the economic self-sufficiency of low- and moderate-income families in south central Houston by providing financial literacy; homebuyers and homeowner education; job readiness, job creation and retention training; and access to affordable multi- and single-family housing. -- PeopleFund is an Austin organization committed to promoting economic vitality and opportunity in underserved communities by providing financial services and technical assistance. -- Southern Dallas Development Corp. is a Dallas corporation that stimulates economic growth and encourages financial literacy in southern Dallas through strategic business financing. -- The PLAN Fund is a grassroots entrepreneur program in Dallas County with a mission to assist entrepreneurs in successfully starting and/or expanding their small businesses through specialized training and business loans.
"With Comerica becoming the largest Texas-based bank as a result of our corporate headquarters relocation to Dallas, we want to build on our already strong community commitment in Texas," said James M. Garavaglia, senior vice president of Corporate Compliance and Public Affairs for Comerica Bank. "These contributions are investments in communities and people. Comerica will continue to increase and enhance our community outreach in the future."
Irvin Ashford Jr., vice president of Corporate Compliance and Public Affairs and manager of Comerica's Community Reinvestment Act (CRA) department in Texas, agreed that Comerica will continue to look for opportunities that benefit the community. "Comerica's success as a company is directly linked to the effort we put forth to ensure our communities are economically healthy, with a good quality of life available to all citizens," he said.
Comerica Bank is a subsidiary of Comerica Incorporated, a financial services company headquartered in Dallas and strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth & Institutional Management. Comerica focuses on relationships and helping people and businesses be successful. Comerica Bank locations can be found in Michigan, California, Texas, Arizona and Florida, with select businesses operating in several other states, and Canada and Mexico. Comerica reported total assets of $60 billion at Sept. 30, 2007. To receive e-mail alerts of breaking Comerica news, go to http://www.comerica.com/newsalerts.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGOAP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
SOURCE: Comerica Bank
CONTACT: Vickie J. Cook of Comerica Bank, +1-214-969-6507,
vjcook@comerica.com
Web site: http://www.comerica.com/