Month: March 2024

PITTSBURGH, March 25, 2024 /3BL/ – Wesco International, (NYSE:WCC), a leading provider of business-to-business distribution, logistics services, and supply chain solutions, is pleased to announce the company’s joint sponsorship with DTE Energy (NYSE: DTE) for the Tom Fox Family JA BizTown® program in Grand Rapids, Michigan.

This program for fifth and sixth graders begins with 12 in-classroom learning sessions that teach the basic principles of economics and the importance of economic exchange, revenue, how to manage money, fundraising, marketing, pricing, budgeting, loans, government structure, voting and various roles within a community.

This mini business town features 13 real local businesses represented by small storefronts. By connecting local businesses and school communities, it emphasizes the importance of education and the interconnectedness between those that live and work in these local communities.

“This partnership with Wesco supports an innovative educational space to help young people learn the skills necessary to steer our communities toward prosperity and growth,” said Jaspreet Singh, Vice President of Corporate Services, DTE. “We’re pleased to make this investment in their future and happy that it brings us closer to our valued customers in West Michigan.”

Wesco’s storefront includes a working stockroom with areas for in-bound receiving, outbound shipping, an EV delivery truck, EV charging station, workstations and display areas for product placement and sales. As Wesco showcases its organization to the students attending, the company also gives the students an opportunity to gain a basic understanding of the importance of supply chain and how goods and services get from one place to another.

This cutting-edge educational experience empowers future generations and gives them first-hand lessons in team building, collaboration, responsibility, decision-making and leadership.

James Cameron, Executive Vice President and General Manager, Utility and Broadband Solutions at Wesco, said “Supporting our customers in the communities we work and live is part of our foundational values. We are proud to partner with DTE to foster new opportunities for students to learn about their energy provider and how supply chain partners enable all parts of everyday life.”

With over 20,000 students and 1,000 educators from schools across West Michigan, Southwest Michigan, Mid-Michigan and Northern Michigan visiting the center, Wesco can help raise awareness about a broad range of careers in supply chain management and operations.

Employees from both Wesco and DTE will be able to volunteer in their specially designed storefront at JA BizTown and interact with the students, as well as other visitors and business and community leaders.

For more information about Wesco: https://www.wesco.com/

About Wesco

Wesco International (NYSE: WCC) builds, connects, powers and protects the world. Headquartered in Pittsburgh, Pennsylvania, Wesco is a FORTUNE 500® company with more than $22 billion in annual sales and a leading provider of business-to-business distribution, logistics services and supply chain solutions. Wesco offers a best-in-class product and services portfolio of Electrical and Electronic Solutions, Communications and Security Solutions, and Utility and Broadband Solutions. The Company employs approximately 20,000 people, partners with the industry’s premier suppliers, and serves thousands of customers around the world. With millions of products, end-to-end supply chain services, and leading digital capabilities, Wesco provides innovative solutions to meet customer needs across commercial and industrial businesses, contractors, government agencies, educational institutions, telecommunications providers, and utilities. Wesco operates nearly 800 branches, warehouses and sales offices in more than 50 countries, providing a local presence for customers and a global network to serve multi-location businesses and global corporations.

About DTE Energy

DTE Energy (NYSE:DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric company serving 2.3 million customers in Southeast Michigan and a natural gas company serving 1.3 million customers across Michigan. The DTE portfolio also includes energy businesses focused on custom energy solutions, renewable energy generation, and energy marketing and trading. DTE has continued to accelerate its carbon reduction goals to meet aggressive targets and is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy, emission reductions and economic progress. Information about DTE is available  at  dteenergy.com,  empoweringmichigan.com,  twitter.com/dte_energy and https://www.facebook.com/dteenergy/. 

Originally published by Pepco

WASHINGTON, March 25, 2024 /3BL/ – Pepco purchased $387 million in goods and services from diversity-certified suppliers in 2023, accounting for 44 percent of the company’s total purchases for the year. This expenditure, a $35 million increase from 2022, is the most spent with diverse suppliers in the company’s nearly 130-year history and reflects Pepco’s ongoing efforts to support local and diverse communities.

“Supplier diversity is just one of the ways we support our customers and local communities with more than energy,” said Rodney Oddoye, senior vice president of Government, Regulatory and External Affairs at Pepco Holdings. “Our continued increase in investments with these valuable partners reinforces our commitment to the local communities that we proudly serve and supports local business growth, helping our communities thrive.”

In line with Pepco’s dedication to enhancing procurement efforts with local diversity-certified suppliers, the Empowerment Academy, formerly known as Target 25, offers prospective suppliers a chance to gain insights into Pepco’s procurement procedures and those of its parent company, Exelon. This initiative contributes to the growth and development of each vendor’s relationship with the energy company. Since the establishment of the Empowerment Academy, Pepco has graduated 17 diversity-certified suppliers and is eager to broaden this opportunity to additional local, diverse suppliers.

Pepco, Exelon and the Exelon Foundation-funded Community Impact Capital Fund (CICF; formerly known as the Racial Equity Capital Fund) also invested nearly $3 million in four local businesses working in the energy, IT, workforce development and real estate fields. The fund, launched in partnership with RockCreek – one of the world’s largest diverse-owned global investment firms, expands capital to businesses that have traditionally been challenged in accessing and securing funding so they can create more jobs, grow their companies and reinvest in their neighborhoods and communities.. Learn more about the funded companies on The Source.

Companies interested in working with Pepco and other Exelon companies can register and provide pertinent information, including their diversity status, at exeloncorp.com/Suppliers.

To learn more about Pepco, visit The Source, our online newsroom. Find additional information by visiting pepco.com, on Facebook at facebook.com/PepcoConnect and on X, formerly known as Twitter, at twitter.com/PepcoConnect. Pepco’s mobile app is available at pepco.com/MobileApp.

CLEVELAND, March 25, 2024 /3BL/ – Today, KeyBank announced that it has funded more than $10 million in loans through its Key Opportunities Home Equity Loan[i] program. Launched on March 1, 2023, the program provides affordable terms for borrowers with qualifying properties to refinance their primary residence to a lower interest rate, consolidate debt, finance home improvements, or tap into their equity when needed. It features a fixed rate, with no origination fee, and a first or second lien option for loans up to $100,000.

Across KeyBank’s footprint, the Key Opportunities Home Equity Loan program has helped more than 200 clients secure loans for their primary home in designated communities.

“This milestone involving the Key Opportunities Home Equity Loan Program reflects KeyBank’s steadfast and holistic commitment to helping clients at every stage of homebuying and homeownership,” said Dale Baker, president of Home Lending at KeyBank. “We are excited to continue to work to reduce the barriers of homeownership through responsible lending products and services, educational support, and direct investment into the diverse communities we serve.”

Key Opportunities is one of three special purpose credit programs[ii] (SPCPs) from KeyBank. Two others, the KeyBank Home Buyer Credit[iii] and KeyBank Neighbors First Credit[iv], provide up to $5,000[v] in credits toward closing costs and other pre-paid fees that may come with financing a new home to homebuyers for the purchase of eligible properties in eligible communities. Since its launch in September 2022, KeyBank has funded more than $1.6 million in KeyBank Home Buyer Credits, helping 376 clients achieve their dream of homeownership in areas where the program is available. The Neighbors First Credit launched in July 2023. Through that program, Key has funded more than $555,000 in credits, helping 111 clients.

KeyBank’s 2024 Financial Mobility Survey found increasingly rising costs have made many Americans come to the realization that owning a home may not be feasible. Of those people (20%) who are not currently in the market to purchase a home and haven’t purchased one in the past year, 69% believe the dream of owning a home is not very attainable.

KeyBank is working to make home ownership more attainable through its Special Purpose Credit Programs, a continued commitment to helping all potential homebuyers make their dream of owning a home a reality. Starting in 2022, KeyBank also committed to investing more than $25 million in grants, fee waivers, and marketing over five years to increase mortgage lending in majority-minority neighborhoods, as well as more than $1 million to homebuyer education and other community support.

“Sustainable homeownership is a wealth building tool that can help families and neighborhoods grow and thrive,” said Rachael Sampson, head of community banking for KeyBank’s consumer bank. “While our work is not done, this $10 million milestone with our Key Opportunities Home Equity Loan program reflects the significant progress we’ve made and our dedication to reaching and helping clients across our communities.”

Learn more about KeyBank’s home lending opportunities and programs, determine whether a property qualifies for Special Purpose Credit Programs, or get started on the journey to homeownership by visiting key.com/communitylending. For details on the current state of local markets and to answer any questions you may have, including whether a property qualifies for Key’s Special Purpose Credit Programs, KeyBank Mortgage Loan Officers are available to help.

ABOUT KEYBANK 
KeyBank’s roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, KeyCorp is one of the nation’s largest bank-based financial services companies, with assets of approximately $188 billion at December 31, 2023.

Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

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NMLS #399797. Mortgage and Home Equity Lending products offered by KeyBank are not FDIC insured or guaranteed. KeyBank extends credit secured by residential real estate without regard to race, color, religion, national origin, sex, handicap, or familial status. All credit products are subject to collateral and/or credit approval, terms, conditions, availability and are subject to change.

CMFA# 240322-2513530

[i] Loan features reduced interest rate and no origination fees. Available on existing primary residence and loans up to $100,000. First or second lien only. Loan must close in a branch. Property must be located in an eligible community in KeyBank’s retail footprint. Additional terms or restrictions may apply. Ask us for details. 

To apply for a home equity loan, you must:

Be 18 years of age or older 
Live within the following states: AK, CO, CT, ID, IN, MA, ME, MI, NY, OH, OR, PA, UT, VT, or WA 
Agree to provide additional personal and business information, if requested, such as tax returns and financial statements 
Certify that all information submitted in the application is true and correct 
Authorize the bank and or a credit bureau to investigate the information on the application
[ii] Special Purpose Credit Programs (“SPCPs”) are, generally, programs that are established to meet special social needs or the needs of economically disadvantaged persons by extending credit to persons who would probably be denied credit or would receive it on less favorable terms, under certain conditions. See 15 U.S.C. § 1691(c)(1)-(3); 12 C.F.R. § 1002.8(a). 
[iii] Available on primary residence first lien purchases only. Property must be located in an eligible community as determined by KeyBank. Eligible Communities are subject to change without notice. Additional terms or restrictions may apply. Ask us for details. 
[iv] Available on primary residence first lien purchases only. Property must be located in an eligible community in KeyBank’s retail footprint or Florida. Eligible communities are determined by KeyBank and subject to change without notice. Additional terms or restrictions may apply. Ask us for details. 
[v] Credits up to $5,000 to be used towards closing costs and prepaid fees.

CBRE

/3BL/ – Global real estate advisor, CBRE, has announced Alzheimer’s Society – the UK’s leading dementia charity – as its new UK charity partner.

In the UK, roughly 900,000 people live with dementia and this number is expected to rise to 1.6 million people by 2040. It is now the leading cause of death in the UK, overtaking heart disease.

Throughout the two-year partnership, CBRE will aim to raise £600,000 through various fundraising initiatives, including its flagship Great Property Bike Ride event, to provide crucial support for people living with dementia. The funds generated will directly support the charity’s pioneering Citizens Advice Benefits Service, its Diversity and Inclusion fund, helping underserved communities access dementia support, increasing financial support, accessible information, and companion calls – all of which are essential tools to reduce the feeling of isolation experienced by those affected by this disease and help them become more resilient to financial hardship.

We are thrilled to announce Alzheimer’s Society as our chosen charity partner for the next two years, as voted for by our employees.

Building on our history of successful charity partnerships, we’re committed to making a lasting impact on the lives of individuals affected by dementia and we hope to make a real difference through a whole host of fundraising initiatives to support such a deserving charity. We are looking forward to getting started!

Ciaran Bird, Divisional President, Advisory Services, CEO UK & Ireland

Kate Lee, Alzheimer’s Society CEO added: “One in three people born in the UK today will develop dementia and it’s currently the UK’s biggest killer. Alzheimer’s Society is committed to ending the devastation caused by dementia, providing help and hope for everyone affected.

Read more about this partnership here