Heartland Bank has joined the Catalytic Fund of Northern Kentucky with an investment commitment of $2 million.
Originally capitalized in 2013 with $10 million, the Catalytic Fund continues to attract new investors and Heartland’s investment increases the Fund’s investment capital to $21M. The Catalytic Fund uses this capital to make non-traditional investments in underutilized sites and buildings to attract economic development to NKY.
The Catalytic Fund, a Community Development Financial Institution (CDFI), is a private-sector nonprofit company whose purpose is to attract quality place-based investments to Northern Kentucky that result in regional economic development and local community development. Its innovative financing products, comprehensive development services, and vibrancy initiatives convert community revitalization plans into completed projects with lasting and measurable impact.
“We are honored to add Heartland Bank as a Catalytic Investor,” said Jeanne Schroer, the Catalytic Fund’s president and CEO. “Heartland has demonstrated its commitment to community building where they’ve had a presence for years and we know they will be an excellent partner to create positive community impact in Northern Kentucky.”
Headquartered in Central Ohio, Heartland has recently increased its presence in the Northern Kentucky Greater Cincinnati area. “Heartland is very proud to support the community development and affordable housing efforts of the Catalytic Fund. We hope our investment and involvement will help Northern Kentucky residents and the community as well. It’s what community banks do,” said G. Scott McComb, Chairman, President and CEO of Heartland Bank.
Established in 1911, Heartland Bank is dedicated to providing financial products and resources to the communities and neighborhoods where they are located. Community commitment takes many forms at Heartland, and during these unprecedented times, Heartland has been serving clients and assisting with financial answers for challenging issues.
Both Schroer and McComb view Heartland’s investment as a winning strategy for amplifying the impact of the Catalytic Fund’s efforts in Northern Kentucky, as well as fulfilling Heartland’s desire to invest in and support the communities where they do business.
Catalytic Fund
