Bank / Credit Union

BMO announces $40B community benefits plan

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December 2, 2022

BMO Financial Group has announced a Community Benefits Plan, which will provide more than $40 billion for local communities, with more than $16 billion specifically for California. The bank developed this five-year plan with input from 85 community groups, according to a press release.

The bank aims to increase home ownership and support small businesses in low-to-moderate income neighborhoods and communities of color.

"We want to thank all of the community groups that invested their time to meet with us and provide feedback that has helped shape this plan," David Casper, U.S. CEO, BMO, said in the release. "We are committed to ongoing community engagement to realize the full potential of this plan."