CIT Bank Provides $100,000 Grant to COR Community Development

OneWest Bank, a division of CIT Bank, provided a $100,000 grant to the COR Community Development, the non-profit of Christ Our Redeemer African Methodist Episcopal Church, located in Irvine, CA.

The grant will be used to provide ongoing support for the development of the COR Innovation Fund, a micro fund and entrepreneurial program targeting at-risk, low-income youth in Orange County. Participants go through a financial education program and ultimately create a business plan that they execute. Select participants are eligible for financing to invest in their business as part of the program.

“For the past 15 years, we have specialized in meeting the needs of low and moderate income individuals,” said Reverend Charles Dorsey, executive director of COR Community Development. “This grant will make a significant impact supporting our Innovative Impact Fund Young Entrepreneur Academy (IIFYEA) program, which offers financial literacy, life skills, business basics, and self-empowerment character building for Orange County high school and community college students.”

“The Innovative Impact Fund Youth Entrepreneur Academy provides a viable alternative pathway for underserved youth to use their talents, skills and passions to make a positive impact on their life and the lives of others,” said John Erickson, president of Consumer Banking and president, California, CIT Bank. “Supporting initiatives such as the IIFYEA is a crucial part of CIT’s commitment to provide banking services to underrepresented and underserved communities of Southern California while investing in the communities where we do business and our employees live and work.”

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