Washington Mutual Foundation Announces $1.6 Million in Combined Support for National NeighborWorks Week 2002 & Neighborhood Reinvestment Training Institutes.Business Editors
SAN FRANCISCO--(BUSINESS WIRE)--Dec. 12, 2001
2002 National NeighborWorks Week(R) Key Cities Also Announced
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Washington Mutual (or WaMu; NYSE: WM) is the United States' largest savings and loan association. Foundation today announced $1.6 million in combined support for National NeighborWorks(R) Week 2002 and scholarship support for participants attending Neighborhood Reinvestment Reinvestment
Using dividends, interest and capital gains earned in an investment or mutual fund to purchase additional shares or units, rather than receiving the distributions in cash.
1. In terms of stocks, it is the reinvestment of dividends to purchase additional shares. Training Institutes, two affordable housing initiatives spearheaded by the Neighborhood Reinvestment Corporation.
"Supporting affordable housing efforts is a corporate priority for Washington Mutual," said Antonio Manning, community relations 1. The relationship between military and civilian communities.
2. Those public affairs programs that address issues of interest to the general public, business, academia, veterans, Service organizations, military-related associations, and other non-news media entities. vice president for Washington Mutual who announced the funding at the Training Institute in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden today, along with Ellen Lazar, executive director of the Neighborhood Reinvestment Corporation. "We understand the importance of having a safe and affordable place to call home."
"Washington Mutual has shown great foresight (graphics, tool) Foresight - A software product from Nu Thena providing graphical modelling tools for high level system design and simulation. in establishing an educational endowment for people who are dedicated to creating positive community change," said Lazar. "And through the financial support and the hands-on efforts of hundreds of Washington Mutual employees who roll up their sleeves for National NeighborWorks(R) Week, this partnership is making a real difference in communities across America."
National NeighborWorks(R) Week, an annual campaign to restore homes and revitalize re·vi·tal·ize
tr.v. re·vi·tal·ized, re·vi·tal·iz·ing, re·vi·tal·iz·es
To impart new life or vigor to: plans to revitalize inner-city neighborhoods; tried to revitalize a flagging economy. neighborhoods, will take place June 1 - 8, 2002, with activities in hundreds of communities across the nation including major events in 12 cities:
Seattle Inglewood, CA Houston East Orange, NJ Oakland, CA Los Angeles Boston Atlanta Sacramento Chicago New York West Palm Beach, FL
Last year, with Washington Mutual's financial and employee volunteer support as the first ever national sponsor of National NeighborWorks(R) Week, an estimated 22,000 families were assisted and 3,500 homes were improved, making it the most widespread housing and community revitalization re·vi·tal·ize
tr.v. re·vi·tal·ized, re·vi·tal·iz·ing, re·vi·tal·iz·es
To impart new life or vigor to: plans to revitalize inner-city neighborhoods; tried to revitalize a flagging economy. campaign in the event's 18-year history.
In addition to sponsoring National NeighborWorks(R) Week, Washington Mutual is the first corporation to endow en·dow
tr.v. en·dowed, en·dow·ing, en·dows
1. To provide with property, income, or a source of income.
a. a scholarship program for the Neighborhood Reinvestment Corporation's Training Institutes, the premier training program for community development and affordable housing practitioners. The scholarship endowment provides opportunities for staff of community-based organizations, who might not otherwise be able to attend. The Washington Mutual scholarship recipients attending the San Francisco Training Institute are:
Richard Fernandez, Chicanas Por La Causa, Phoenix
Arturo Portillo, Chicanas Por La Causa, Phoenix
Linda Leung, Chinatown Community Development Corporation, San
Monica Mejia, Chinatown Community Development Corporation, San
Larry Taylor (born Samuel Taylor, 6 June 1942, New York) is an American bass guitarist, best known for his work as a member of Canned Heat from 1967. , Oakland Community Development Corporation Ninoska
Hernandez, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Neighborhood Housing Services April
Nopar, Los Angeles Neighborhood Housing Services Roy Watson,
Los Angeles Neighborhood Housing Services Sandra Speed, West
Angeles Community Development Corporation, Los
Following San Francisco, the next Training Institute will be offered February 18 - 22, 2002 in Atlanta. For more information, including scholarship opportunities, call the Training Institute at 800/438-5547 or go to www.nw.org/training.
The grants for National NeighborWorks(R) Week and Training Institute scholarships bring Washington Mutual's total cash investment in the Neighborhood Reinvestment Corporation to nearly $3 million since last year and is part of the company's annual multi-million dollar commitment to affordable housing.
About Neighborhood Reinvestment Corporation
Neighborhood Reinvestment Corporation, a national nonprofit A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive.
Nonprofits are also called not-for-profit corporations. Nonprofit corporations are created according to state law. , was created in 1978 by an act of Congress to revitalize America's older, distressed communities by establishing and supporting a national network of local nonprofit organizations Nonprofit Organization
An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well.
Examples of non-profit organizations are charities, hospitals and schools. collectively known as the NeighborWorks network.
These community-based organizations are known locally by many different names, most typically Neighborhood Housing Services (NHS NHS
National Health Service
NHS (in Britain) National Health Service ) or Mutual Housing Association (MHA MHA
microangiopathic hemolytic anemia. ). Last year alone, the 235 member organizations generated nearly $1.5 billion in direct community reinvestment.
Further information on the Neighborhood Reinvestment Corporation and its affiliated NeighborWorks network is available at www.nw.org.
Washington Mutual's Ongoing Commitment to Communities,
This year, Washington Mutual has committed $50 million to communities across the country including grants, sponsorships, in-kind support and other assistance. Nearly half of the company's charitable giving is dedicated to supporting affordable housing initiatives.
Additionally, in September 2001, Washington Mutual announced the largest-ever community lending commitment of $375 billion - more than tripling its original $120 billion lending commitment made in 1998 - which will benefit low- to moderate-income communities across the country over the next ten years.
Washington Mutual complements its financial support with hands on involvement in the community through its employee volunteer program called CAN! Committed Active Neighbors. Last year, 15,000 Washington Mutual employees volunteered more than 175,000 hours in their local communities helping with more than 2,000 projects.
About Washington Mutual
With a history dating back to 1889, Washington Mutual is a national financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page. company that provides a diversified line of products and services to consumers and small- to mid-sized businesses. At Sept. 30, 2001, Washington Mutual and its subsidiaries had consolidated assets of $223.64 billion. Washington Mutual currently operates approximately 2,300 consumer banking, mortgage lending, commercial banking, consumer finance and financial services offices throughout the nation. Washington Mutual's press releases are available at www.wamu.com.