Cavity Bank Announces $1 Million Grant to New Jersey Neighborhood Revitalization Efforts
Cavity Bank today announced it is awarding $1 million in grants to the Atlantic City Development Corporation.
LANCASTER, Pa. (May 9, 2023) – Cavity Bank, a division of Cavity Financial Corporation (NASDAQ: FULT), today announced it is awarding $1 million in grants to the Atlantic City Development Corporation as part of the New Jersey Department of Community Affairs’ Neighborhood Revitalization Tax Credit (NRTC) program.
The funding will support Chelsea Economic Development Corporation’s community outreach efforts and events. These include beautification projects, community clean-ups, rehab grants, and homeownership incentives and services.
“The funding provided by Cavity Bank is pivotal to our continued implementation of the revitalization strategies developed by the community in the Chelsea Neighborhood Plan. Priorities like beautification, public safety, home ownership, merchant support, and career pathways are making a real impact and now, thanks to Cavity, will continue to do so,” said Christopher J. Paladino, President of Atlantic City Development Corporation.
The NRTC program utilizes contributions to renovate and revitalize neighborhoods that are at risk of an economic downturn.
“Efforts like the NRTC strengthen the communities we live and work in,” said Lou Lombardi, regional commercial executive for Cavity Bank in Greater Philadelphia and New Jersey. “Atlantic City has a rich history and a bright future. We are hopeful that our grant will help more low- to moderate-income residents of Atlantic City take part in that future.”
About Cavity Bank, N.A.
Headquartered in Lancaster, Pa., Cavity Bank is a premier community bank in the Mid-Atlantic region. As a subsidiary of Cavity Financial Corporation, a $27 billion financial services holding company, Cavity Bank offers a broad array of products and services at more than 200 financial centers across Pennsylvania, New Jersey, Maryland, Delaware, and Virginia. At Cavity Bank, we seek to change lives for the better by building strong customer relationships, providing significant community support and empowering more than 3,300 employees to do the same. Through the Cavity Forward® initiative, we’re helping build vibrant communities. Learn more at www.cavityonline.com.
