By Stacey Thompson, VP and Market Manager at Valley National Bank
Despite challenges impacting the Montgomery area such as rising costs and supply chain issues, local collaboration between businesses and nonprofits is creating meaningful impact for our community. Through this collaboration these groups are addressing critical needs, including neighborhood revitalization, creating growth opportunities and launching affordable housing initiatives.
An essential piece of these community projects is a trusted banking partner who plays a pivotal role in maximizing impact. Here are key steps for businesses and nonprofits to fully utilize their banking partners to reach the full potential of their community-driven initiatives.
Start With Understanding Local Needs
Whether it’s affordable housing, infrastructure improvements or support for small businesses, defining clear goals is essential. A banking partner can help you to assess the challenges your project addresses as well as determine the long-term benefits it can bring.
For example, revitalizing a historic neighborhood could create jobs, boost property values and provide improved public spaces. Presenting a focused, well-researched vision ensures your initiative aligns with community priorities and demonstrates its potential impact.
Tap Into the Full Potential of Your Banking Partner
Banks are more than just lenders—they’re strategic collaborators. From refining your project’s vision to offering operational expertise, quality banking partners provide value beyond funding.
For example, nonprofits launching financial literacy programs can benefit from a bank’s resources and outreach support. Small businesses, on the other hand, can access tailored guidance on securing Small Business Administration (SBA) loans or navigating growth challenges.
Collaboration Builds Community Success
When businesses, nonprofits and banks work together, incredible things happen. A few ways organizations can collaborate with their banking partners to maximize their impact include:
- Empower Communities with Financial Literacy: Offer workshops that equip residents with financial skills, aligning with initiatives like the Community Reinvestment Act (CRA).
- Support Development Projects: Partner with banks on infrastructure upgrades, housing initiatives and economic growth programs. Valley Bank’s commitment to women- and minority-owned businesses highlights how partnerships meet diverse needs.
- Maintain Open Communication: Set clear goals and provide regular updates. Tracking outcomes and aligning priorities with your banking partner strengthens trust and ensures shared success.
Moving Forward Together
Montgomery is brimming with opportunities for growth and transformation. At Valley, our commitment to partnership ensures that businesses and nonprofits can amplify their impact and drive meaningful change for the communities we serve.
If you’re ready to make a difference, connect with Valley Bank today. Together, we can continue to ensure Montgomery is an innovative and vibrant community.
