Meaningful Involvement
Lifting up our communities is important to the people of Western Alliance. We live this value in many ways, starting with financial support for affordable housing projects, community developments and grants to many nonprofit organizations. In addition, we take leadership and supporting roles in community organizations providing thousands of hours of volunteer time.
In 2017
$231 Million in community development loans
10,830 employee community service hours
$84 Million in new community investments and donations
Our Investment in Affordable Housing
"Heartbreak Hotel" no more. A historic hotel in downtown Spokane, WA – where Elvis actually stayed – is finding new purpose as a redeveloped 13-story residential property, with more than 80 percent of apartments set aside for affordable housing. Opening in 2018, the revitalized building relied on bond funding from Western Alliance.
Since 2012, Western Alliance has invested more than $600 million in committed capital and debt to help build, renovate and restore 200+ low-income, multi-family housing properties across the country. In all, this equates to more than 25,000 apartment units that provide housing for over 100,000 residents in 42 states.
Financial support for affordable housing is one facet of the bank's deeply rooted commitment to enhancing quality of life and creating stronger, more resilient communities.
There are more than 11 million U.S. households spending at least half their incomes on what is often sub-standard housing. Every investment we make to improve affordable housing and make it more available chips away at this significant social issue."
Jennifer Holyoak, SVP, Commercial Real Estate Finance
A Catalyst for Improving Education
At Bank of Nevada, playing an active role in improving local K-12 education is nearly as central to the bank's mission as taking deposits and making loans.
"As a bank that serves the business community, we believe the education system is the one thing that can hold our clients back from reaching their full potential," says John Guedry, CEO, Bank of Nevada.
That's why Bank of Nevada has taken a leadership role in coalescing Las Vegas' business community in a singularly effective program called (BE) Engaged – Business + Education Engaged. Now heading into its third year of working to improve Clark County's challenged public school district, the fifth largest in the nation that serves 75 percent of all students in Nevada, (BE) Engaged counts a growing list of successes.
Already, 135 C-level executives and business owners have committed to hands-on mentoring to the school district, and the renowned STEM Academy has provided curriculum for all of the district's middle schools. And that's just the beginning. With (BE) Engaged, look for improved performance – and a better report card – for this vitally important school district.