News

The fund aims to address wealth gaps and increase opportunities for underserved communities 

The U.S. Bank Foundation has announced the launch of the U.S. Bank Foundation Opportunity Fund*, a new, five-year, $75 million financial commitment designed to increase wealth-building opportunities for low- and moderate-income (LMI) communities, rural communities and communities of color. 

The U.S. Bank Foundation Opportunity Fund will prioritize grants toward community development financial institutions (CDFIs); small business technical assistance and business incubators, affordable housing development; homeownership and down payment assistance; and economic development and infrastructure support for rural and Native American communities. Grants will support the commitments U.S. Bank has made to increase small business lending, mortgage lending, and community development lending and investments across the country, including the U.S. Bank Access Commitment.

“We have had a long-standing commitment to support organizations that are working to address systemic economic inequities, and the U.S. Bank Foundation Opportunity Fund will help us strengthen our impact across the many communities we serve,” said Reba Dominski, chief social responsibility officer at U.S. Bank and president of the U.S. Bank Foundation. “We’re proud to work with nonprofits that are driving meaningful change by providing small business, housing and community development assistance.”

U.S. Bank Foundation Opportunity Fund grants will be focused on serving communities within the bank’s 26-state retail banking footprint. Nonprofit organizations in these areas are invited to submit a letter of interest for grants now through Nov. 10 and can access the full grant guidelines and additional information at usbank.com/opportunityfund.

The U.S. Bank Foundation Opportunity Fund builds upon the bank’s signature Community Possible Grant Program, which will continue to provide funds to nonprofit partners, as well as the legacy of U.S. Bank Foundation programs such as the Market Impact Fund and Rebuild and Transform Fund. 

*The Opportunity Fund represents a financial commitment of the U.S. Bank Foundation; it is not a traditional equity fund, nor does it represent a form of ownership.