Cross River Partners with AACCNJ to Grow Economic Empowerment in Underserved Communities
February 17, 2022
Cross River Partners with African American Chamber of Commerce of New Jersey to Grow Economic Empowerment in Underserved Communities
Launches new partnership and grant program that will help AACCNJ with its Community Development Financial Institution (CDFI) efforts
New platform will inject capital to drive accelerated growth for African American owned businesses as part of a series of initiatives in honor of Black History Month
FORT LEE, N.J. - Cross River Bank (“Cross River”), a technology driven infrastructure provider that offers embedded financial solutions, today announced a new partnership with the African American Chamber of Commerce of New Jersey (AACCNJ) that will inject new capital, financial literacy education opportunities and critical business resources to underserved businesses and consumers, leveraging Cross River’s technology-focused approach. Core to Cross River’s mission is empowering small and minority owned businesses by expanding access to capital and innovative financial resources, furthering economic inclusion.
As part of the partnership in honor of Black History Month, Cross River has provided the AACCNJ with a grant of $220,000 to help further the AACCNJ’s role in economically empowering and sustaining African American communities with free enterprise activity and direct outreach programs within the state. It will also help fund the Chamber of Commerce’s efforts to become a Community Development Financial Institution to serve more consumers and further compliment the New Jersey ecosystem. The partnership seeks to invest in the New Jersey African American community by not only providing more access to capital, but also support leveraging Cross River’s technological expertise.
“Cross River was founded with the goal of breaking down barriers to create access to safe and affordable financial services,” said Phil Goldfeder, SVP Global Public Affairs at Cross River. “We are proud to launch this partnership with our friends at the AACCNJ as part of our longstanding commitment to find ways to provide individuals and communities with the resources they need.”
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