BBVA Compass announces its new community advisory board, which is stacked with 19 leaders who will help guide the bank’s efforts to better serve low- to moderate-income individuals and neighborhoods and strengthen its community development program.
The BBVA Compass Community Advisory Board’s members are from national organizations and in markets across the bank’s seven-state footprint and bring expertise in a variety of areas —affordable housing, alternative lending and economic development, for instance, as well as financial education and inclusion. They’re tasked with giving BBVA Compass executives and board members guidance and feedback on the bank’s restructured Community Reinvestment Act, a program and will provide referrals for business opportunities in mortgage, small business and commercial lending that will help the bank meet its CRA goals.
“These are leaders in their respective fields, and all of them are dedicated to serving the housing, community and economic development needs of diverse communities across the U.S.,” said BBVA Compass Chairman and CEO Manolo Sánchez. “We’re firmly committed to reaching low to moderate-income areas, and making a difference in communities across our footprint, and the community advisory board is critical to those efforts.”
The BBVA Compass Community Advisory Board is made up of 15 members who serve areas across the bank’s footprint and four members from national organizations which included our very own, President & CEO Tommy Espinoza.
BBVA Compass pledged last November to put $11 billion in lending, investments and services toward supporting low- and moderate-income, or LMI, individuals and neighborhoods. The five year plan earmarks $2.1 billion for mortgage loans to LMI homebuyers and in LMI neighborhoods, $6.2 billion for small business lending, $1.8 billion for community development lending, and $900 million for community development investments.