Alliance Bank of Arizona Wins Phoenix Business Journal's Corporate Philanthropy Award for its Community Impact
PHOENIX (Oct. 30 2018) – Due to its steadfast philosophy of giving back to the communities it serves and commitment to improve the quality of life across the state, Alliance Bank of Arizona recently won the Phoenix Business Journal’s Corporate Philanthropy Award in the large companies’ category for its community impact.
The award, which honors exceptional corporate commitment to the vital work of creating positive impact for the community, was presented on Oct. 25.
Alliance Bank is a division of Western Alliance Bank, the largest locally-headquartered banking organization in Arizona and one of the country’s top-performing financial institutions. The division has 10 offices across the state and focuses on meeting the needs of business customers by delivering customized deposit and lending solutions alongside unparalleled local market knowledge and outstanding customer service.
“Giving back to the communities where we live and work is an intrinsic part of our corporate culture,” said Kenneth Vecchione, CEO of Western Alliance Bank. “The cornerstone of our corporate philanthropy is rooted in helping to drive communities forward through leadership in education, substantial support of affordable housing, and community development lending and investments.”
In 2017 alone, Alliance Bank of Arizona donated $1.4 million primarily to support better educational opportunities for low income individuals, invested $11 million in affordable housing, contributed approximately 6,000 employee volunteer hours, and made about $130.1 million in community development loans in support of economic advancement.
Today the bank has active involvement and leadership positions in over 90 charitable/nonprofit organizations and 30 business organizations across Arizona. Its team is committed to a wide range of worthwhile local organizations – from the Arizona Humane Society, the East Valley Hispanic Chamber of Commerce and Housing Solutions of Northern Arizona to North Country Healthcare, Make-A-Wish Arizona, Fresh Start Women’s Foundation, Mesa United Way and many others.
“Creating strong connections in our community is one of the most important aspects of the work experience here,” said Vecchione. “These connections fuel volunteer projects, investment and reinvestment opportunities, and create boundless economic development possibilities, while also allowing employees to build their teamwork skills, create a sense of accomplishment, and develop important leadership skills.”
A powerful example of Alliance Bank’s community impact is its work with Raza Development Fund, one of the nation’s largest Latino-focused community development financial institutions. When Raza decided to finance affordable housing along a major light rail line in Phoenix, Alliance Bank provided key funding.
“Alliance Bank focuses on community projects that benefit the community,” said Tom Espinoza, Founder and CEO, Raza Development Fund. “The bank jumped right in. . . Alliance Bank is involved in the community because they want to be, and this is a very different approach. It’s part of their value system.”
Alliance Bank’s in-depth, long-term support for “savings to scholarship” nonprofit AZ Earn to Learn also demonstrates its commitment to making higher education a reality for low- to moderate-income students. The Tucson-based organization guides students to save $500 each year to unlock an annual match of $4,000 at one of three Arizona state universities to help them earn the life-long asset of a college degree.
“Alliance Bank has been a major supporter even before we had our first student,” said Kate Hoffman, Founder of AZ Earn to Learn. “Not only did the bank help us get our organization off the ground, they also provide important financial support – and they have done this every year since the program launched in 2012. I can’t imagine a better community partner.”
The bank also lends time and resources to more than 15 high-impact education nonprofits, including Arizona Earn to Learn, College Success Arizona, Junior Achievement, Support Our Schools AZ, Maricopa Community College Foundation, Literacy Volunteers of Maricopa County, Arizona Women’s Education and Employment Inc., and many more.
Alliance Bank of Arizona, a division of Western Alliance Bank, Member FDIC, helps business clients realize their growth ambitions. Founded in 2003, Alliance Bank of Arizona offers a full spectrum of loan, deposit and treasury management capabilities, plus superior service. With 10 offices in Greater Phoenix, Tucson and Flagstaff, along with Western Alliance Bank’s powerful array of specialized financial services, the banking division is a valued resource for Arizona’s business, real estate, professional, municipal and nonprofit communities. Alliance Bank’s wide-ranging commitment to giving back to its communities earned the prestigious 2018 Corporate Philanthropy Award from the Phoenix Business Journal. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. One of the country’s top-performing banking companies, Western Alliance has ranked in the top 10 on the Forbes “Best Banks in America” list for four consecutive years, 2016-2019.