Newark—Jun 3, 2025— New Jersey Citizen Action (NJCA) Director of Community Reinvestment Leila Amirhamzeh today released a statement on Provident Bank's continuing commitment to communities of color and low-and moderate-income families.
"NJCA is pleased that Provident Bank reaffirmed its commitment to disbursing the $12 million loan subsidy outlined in the terms of the 2022 federal Department of Justice consent order, as reported by American Banker. NJCA looks forward to continuing to work with Provident to provide education, outreach, and housing counseling to connect underserved first-time homebuyers to the loan subsidy, which will help increase access to affordable homeownership opportunities and help address our state's housing crisis
"We also look forward to joining community leaders and other partners this afternoon in celebrating Provident’s opening of a bank branch in Newark. New Jersey has seen one of the highest rates of bank branch closings in the United States post-pandemic. Opening bank branches in low- and moderate-income communities is critical to ensuring that these communities have access to safe and affordable credit and basic banking services, and helps to promote economic opportunity and financial inclusion.