THE WOODLANDS, Texas,
March 4, 2021 /PRNewswire/
-- Woodforest National BankĀ® (Woodforest) recently won the
2020 BAI Global Innovation Award in the Societal & Community
Impact Innovation category for its Woodforest CEI-Boulos
Opportunity Fund, which invests in high-impact commercial real
estate projects in Opportunity Zones with the goal of benefitting
economically distressed communities across the bank's 17-state
footprint.
BAI's prestigious awards program recognizes financial services
organizations that go beyond the conventional to bring creative
ideas to life, especially during a time of unprecedented change.
Award winners, like Woodforest, represent the most distinctive,
impactful solutions in the global financial services industry, and
the bank's fund entry was selected from hundreds of nominations
submitted.
"Woodforest Bank has had a longstanding commitment to innovation
and community investment, and the bank's efforts and results this
year are worthy of recognition including as winner in this
category," said Debbie Bianucci,
President & CEO, BAI. "The judging panel was very impressed
with the impact they are having, especially in communities that
could benefit most by this kind of investment, but don't often
receive it. There is a passion for collaboration and a pride in
truly making communities stronger, which we felt deserved this high
recognition."
"It's an honor to receive this global award and for Woodforest
to be recognized for this innovation. With the Opportunity Zone
incentive, we discovered a way to help create 1,800 good jobs and
revitalize neighborhoods spanning the 17 states where we do
business. I truly appreciate our CRA Team's innovative leadership
as a part of the Woodforest family. As servant leaders, we wake up
every day committed to supporting our customers and communities
including the underserved," said Jay
Dreibelbis, President and CEO, Woodforest National Bank.
CEI-Boulos Capital Management, the fund's manager, is a real
estate investment fund management company focused on delivering
both competitive financial returns and social impact. It is a joint
venture of Coastal Enterprises, Inc., a nationally renowned
Community Development Financial Institution, and The Boulos
Company, an integrated commercial real estate firm.
"We're thrilled to be working with Woodforest National Bank on
this innovative fund investing in high-impact real estate projects
across the bank's service territory," said Sam Spencer, Chief Executive Officer and
Managing Director of CEI-Boulos Capital Management. "Thank you to
BAI and the Innovation Circle judges for this recognition and for
highlighting how the Woodforest CEI-Boulos Opportunity Fund is
producing positive outcomes for underinvested communities."
Some of the innovative aspects of the Woodforest CEI-Boulos
Opportunity Fund are its Social Impact Advisory Board that
provides input on social and environmental impacts of proposed
investments using metrics that align with both the Community
Reinvestment Act (CRA), and the "OZ Reporting Framework" developed
by the U.S. Impact Investing Alliance, the Beeck Center at
Georgetown University, and the Federal
Reserve Bank of New York. The fund
ensures all investments foster community engagement and promote
social equity.
Since its inception in 2011, the BAI Global Innovation Awards
recognizes industry leaders from all regions of the world. It
showcases what these innovators are doing to deliver new value to
customers and employees, as well as to improve efficiencies and
profitability for their organizations. To learn more about the BAI
Global Innovation Awards and all of the winners, please visit
BAIGlobalInnovations.com.
About Woodforest National Bank
Woodforest National Bank has successfully stood among the
strongest community banks in the nation, proudly offering
outstanding customer service since 1980. Woodforest currently
operates over 750 branches in 17 states across the United States and is an Outstanding
CRA-rated institution. For more information about Woodforest
National Bank, please visit www.woodforest.com.
About BAI
As a nonprofit, independent organization, BAI delivers the
financial services industry's most actionable insights, enabling
leaders to make smart business decisions every day. BAI is
passionate about the trusted information and powerful tools that
provide leaders with the clarity and confidence needed to drive
positive change and move the financial services industry forward.
For more information, visit www.bai.org.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/woodforest-national-bank-wins-global-innovation-award-for-societal--community-impact-301240837.html
SOURCE Woodforest National Bank