Citizens Financial : Bank Provides $1.85 Million Loan to Urban League of Rochester Economic Development Corp.

01/25/2016

Funds will be used to renovate Blossom Village Apartments

ROCHESTER, N.Y. - Citizens Bank announced today that its Community Development Lending Group has provided a $1.85 million construction loan to the Urban League of Rochester Economic Development Corp., a wholly owned subsidiary of the Urban League of Rochester, Inc., for the renovation of Blossom Village Apartments, a 24-unit affordable housing development in Brighton, N.Y.

The Urban League of Rochester Economic Development Corp. develops and implements programs to improve the living and working conditions of underserved populations in the greater Rochester region through economic development and community revitalization initiatives.

Built in 1995, Blossom Village Apartments provides housing to residents with physical and/or developmental disabilities in low-income households.

The renovation project will include general building rehabilitation as well as increased accessibility and energy efficiency features. Permanent funding is being provided by New York State Homes and Community Renewal and the Federal Home Loan Bank of New York.

'The Urban League of Rochester highly values the partnership with Citizens Bank,' said Carolyn Vitale, Chief Operating Officer of the Urban League of Rochester Economic Development Corp. 'Citizens' bankers bring great ideas to the table and their commitment to affordable housing projects is clear. Their experience with these transactions makes a big difference.'

'The Urban League of Rochester Economic Development Corp. is an excellent client and partner,' said Reza Aghamirzadeh, Executive Vice President and Community Development Director at Citizens Bank. 'We are pleased to be part of this project and to help the Urban League team achieve their goals.'

For more information, please go to the Citizens Bankwebsite.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $135.4 billion in assets as of September 30, 2015. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle‐market companies, large corporations and institutions. In Consumer Banking, Citizens helps its retail customers 'bank better' with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank branches in 11 states in the New England, Mid‐Atlantic and Midwest regions. Citizens also provides mortgage lending, auto lending, student lending and commercial banking services in select markets nationwide. In Commercial Banking, Citizens offers corporate, institutional and not‐for‐profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance.

Citizens operates through its subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania. Additional information about Citizens and its full line of products and services can be found atwww.citizensbank.com.