WASHINGTON, Oct. 10, 2012 (GLOBE NEWSWIRE) -- NeighborWorks America, one of the nation's leading nonprofit community development corporations, and the Capital One Foundation today announced a partnership to support neighborhood stabilization in communities across the country. A $175,000 grant from the Capital One Foundation will support a variety of programs including the launch of the Neighborhood Marketing Initiative, which is designed to help communities better market themselves to bolster housing demand and increase private sector investment, especially those neighborhoods hardest hit by foreclosure.
The funds will also support scholarships for nonprofit professionals to attend the NeighborWorks Training Institute. NeighborWorks America is the largest provider of community development training in the U.S., on average helping more than 15,000 professionals each year. Professionals learn valuable skills and earn important certifications that enable them to build stronger communities.
"We're excited by this new relationship with Capital One," said Eileen Fitzgerald, chief executive officer of NeighborWorks America. "Capital One's support enhances our ability to keep nonprofit community development professionals equipped with the best tools in order to build strong communities. Moreover, Capital One's support of the Neighborhood Marketing Initiative illustrates the bank's willingness to invest strategically in new ways of doing things that will reverse the effects of the foreclosure crisis."
"Capital One's goal is to be a catalyst for change and help stabilize and strengthen local communities that have been hit hard during the economic downturn," said Dorothy Broadman, managing vice president of community development banking at Capital One. "This partnership with NeighborWorks builds on our efforts to encourage sustainable home ownership and support nonprofits helping prospective homebuyers and existing homeowners to build strong local communities."
More information about the NeighborWorks Training Institute can be found at www.nw.org/training. More information about NeighborWorks America neighborhood stabilization programs can be found at www.stablecommunities.org.
About NeighborWorks America
NeighborWorks America creates opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. In the last five years, NeighborWorks organizations have generated more than $19.5 billion in reinvestment in these communities. NeighborWorks America is the nation's leading trainer of community development and affordable housing professionals.
About Capital One
Capital One Financial Corporation, headquartered in McLean, Virginia, is a Fortune 500 company with approximately 1,000 branch locations primarily in New York, New Jersey, Texas, Louisiana, Maryland, Virginia, and the District of Columbia. Its subsidiaries, Capital One, N.A., Capital One Bank (USA), N. A., and ING Bank, fsb, offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients. We apply the same principles of innovation, collaboration and empowerment in our commitment to our communities across the country that we do in our business. We recognize that helping to build strong and healthy communities - good places to work, good places to do business and good places to raise families - benefits us all and we are proud to support this and other community initiatives.
The NeighborWorks America logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=15144
CONTACT: LINDSAY MOORE 202-220-6317 LMOORE@NW.ORG TWITTER: @NEIGHBORWORKSPR
Source: NeighborWorks America