The federal Treasury Department has awarded Mission Community Bank a grant to provide loans and other services to groups that help people living at or below the federal poverty level.
The San Luis Obispo bank was the only local institution to receive the Bank Enterprise Award.
The fourth such award for the bank, it recognizes financial institutions for promoting community revitalization by providing key financial services, credit and investment capital to communities that need it.
“The award comes to the bank based on what we did in 2009, and it is a validation of the work we do here,” bank CEO Anita Robinson said.
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“It’s an honor that encourages us to keep doing what we’re doing,” she added.
A total of nearly $25 million dollars in these awards went to 69 financial institutions nationwide in September, officials said.Treasury spokesman Scott Berman said that banks must apply for the award and agree that the money will go toward serving “distressed communities.”
Over the past 10 years, Mission Community Bank has received more than $2.5 million in BEA grants.
— Stacy Daniel