We’re Making a Difference in Our Communities

KeyBank’s five-year, $16.5 billion National Community Benefits Plan was launched in 2017 and drives investment for low- to moderate-income (LMI) individuals, families, and communities through community development and affordable housing, mortgage and small business lending, and transformative philanthropy.

Through the first four years of the plan, KeyBank has invested more than $18 billion in the communities where we do business, including KeyBank’s 23 markets from Maine to Alaska.

Community Benefit Plan Commitments


2020 ProductionYear Over Year
(YOY) Growth
Community Development Lending & Investing:
Affordable housing and community development solutions
Mortgage Lending:
Supporting LMI individuals and communities
Small Business Lending:
Helping LMI urban and rural communities
Transformative Philanthropy:
Focused on education, workforce development, and neighborhood revitalization

(Plan progress from January 1, 2017 – December 31, 2020)

Summary of Commitments

Community Development Lending & Investment (CDLI)

KeyBank commits to a five-year goal of $8.8 billion in Community Development Lending & Investment.

KeyBank finances projects that stabilize and revitalize communities. We are one of the nation’s leading affordable housing lenders with a platform that brings together balance sheet, equity, and permanent loan offerings. CDLI has made substantial investments supporting community development and affordable housing projects, representing an investment of $3.7 billion in 2020.

Mortgage Lending

KeyBank commits to a five-year goal of $5 billion in residential mortgage lending.

KeyBank’s mortgage business both originates and services loans. We understand homeownership is a critical factor in building healthy neighborhoods and seek to improve the lives of residents in the neighborhoods we serve.

KeyBank’s commitment to homeownership includes banking products that put owning a home within reach for low- to moderate-income individuals. Through the first four years of the plan, KeyBank has provided $3.7 billion in mortgages to LMI neighborhoods and borrowers in urban and rural communities.

The lead product to support these goals is Key Community Mortgage®. This program offers low down payment options and nontraditional credit approval to help clients in all neighborhoods reach the dream of homeownership.

Small Business Lending

KeyBank commits to a five-year goal of $2.5 billion in small business lending to LMI urban and rural communities.

The path to progress and growth includes a bank that understands the challenges of building a small business from the ground up. This challenge is particularly acute in neighborhoods where access to capital has been a challenge. KeyBank continues to grow small business lending in these communities. With more than $2.6 billion in lending to small businesses in urban and rural communities, we have exceeded our targets through the first four years of the plan.

Transformative Philanthropy

KeyBank commits to a five-year goal of $175 million in philanthropic investments.

Being part of a community means investing in its success. KeyBank Foundation and First Niagara Foundation are non-profit charitable organizations focused on transformative philanthropic investments to build stronger communities and improve the quality of life for our neighbors.

In 2020, KeyBank Foundation and First Niagara Foundation made 660 philanthropic investments totaling more than $35 million. Consistent with the Foundations’ strategic pillars of Education, Workforce, and Neighbors, these investments help build meaningful and transformative relationships that will create lasting change in our communities.

The foundations continue to focus on service through volunteerism, with the intention of 500,000 employee volunteer hours in the next five years.

Product Innovation

KeyBank commits to a five-year goal of $3 million to support a product innovation fund.

KeyBank continues to offer innovative and responsible retail products and services for the underserved through the development of new products for urban and rural LMI communities, with input from the community.

National Advisory Council

In 2017, KeyBank formed the National Advisory Council. which includes a diverse group of community leaders from across our markets, to help oversee plans to provide transformational and meaningful community investment. KeyBank’s National Advisory Council met twice in 2019. During these meetings, stakeholders shared insights on issues facing communities and how Key is positioned to help address those issues.

In 2019, KeyBank provided thought leadership on regulatory changes that will impact our most vulnerable communities by submitting a comment letter on the Office of the Comptroller of the Currency’s (OCC) Advance Notice of Proposed Rulemaking for Community Reinvestment Act (CRA) reform.

Also in 2019, KeyBank hosted a series of local community meetings, encouraging robust and candid dialogue about community needs. More than 40 community leaders attended our pilot in Western New York.

As with everything KeyBank does, the community benefits plan is underscored by diversity, equity and inclusion – an important commitment that KeyBank makes to its employees, shareholders, clients, and communities. KeyBank aspires to reflect the diverse communities where it operates and, internally, Key builds an inclusive culture that encompasses both the workforce and the workplace. Key actively and consistently builds aspirational goals, measures progress, and reports annually on diversity and inclusion successes and challenges.

The ability of KeyBank to meet the goals set forth within the Plan is subject to favorable market and regulatory conditions during the applicable time periods, as well as other assumptions, risks, and uncertainties, many of which are outside of the control of KeyBank.