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NATIONSBANK, NAACP OPEN CHARLOTTE COMMUNITY DEVELOPMENT RESOURCE CENTER

NATIONSBANK, NAACP OPEN CHARLOTTE COMMUNITY DEVELOPMENT RESOURCE CENTER
 CHARLOTTE, N.C., June 29 /PRNewswire/ -- NationsBank Corporation (NYSE: NB) and the NAACP have opened the first of five Community Development Resource Centers that will promote community development lending.
 The center, located on Clanton Road in Charlotte, serves all of North Carolina.
 "We want to make capital available to the small business man or woman; we want families to be able to buy their own homes; we want to educate young people, early-on, in the basics of financial responsibility and sound planning," said Hugh McColl, president and chief executive officer of NationsBank.
 "These centers help us identify people who historically have been under-served or left on the sidelines of economic progress," he continued. "While NationsBank is committed to serving all of its communities, we cannot accomplish our goals without a tremendous amount of support. The NAACP -- which staffs these centers -- is just what the doctor ordered in terms of experience, support and reaching out to our communities. We could not ask for better teammates."
 Earl Shinhoster, regional director of the NAACP, said, "The NAACP extends its hand and experience to NationsBank in our mutual objectives of better serving all of the people in our communities. This partnership should be viewed as a vital link between the NAACP's vast community network and the NationsBank commitment to community development."
 NationsBank has committed $1.1 million to fund the Resource Centers for three years. The other centers will be in Atlanta, Columbia, Richmond and Austin. They all will be open before the end of September.
 Initiatives directed out of the centers include economic development, business development outreach, public/private partnerships, affordable housing and consumer lending. Consumer and business education and counseling, economic development advocacy and technical assistance in the areas of needs assessment, product development, marketing, lending practices, strategic planning and product and service delivery also will be emphasized.
 Kermitt Waddell is education and counseling director of the N.C. Center. Rose Marie Cotton is business development director and Tammy Neal is administrative assistant.
 "These people are poised to have an impact in North Carolina," McColl said. "They are key to us making a difference in this community. We are excited about this program and, with our teammates at the NAACP, will do what it takes to help make this program a success."
 The NAACP Community Development Resource Center is in 400 L, 77 Corporate Park, on Clanton Road between I-77 and South Tryon Street. The phone number is (704) 525-6800, 8:30 a.m.-5 p.m., weekdays.
 NationsBank Corporation is the fourth largest bank holding company in the United States with $113 billion in assets and more than 1,800 offices in nine states and Washington, DC.
 -0- 6/29/92
 /CONTACT: Mary Waller, Corporate Communications, NationsBank Corporation, 704-386-5469/
 (NB) CO: NationsBank Corporation; NAACP ST: North Carolina IN: FIN SU: PDT


CM -- CH003 -- 4625 06/29/92 10:30 EDT
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Publication:PR Newswire
Date:Jun 29, 1992
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