Florence Bank Donates $40,000 to Valley Community Development Corp.

FLORENCE — Florence Bank recently contributed $40,000 to Northampton-based Valley Community Development Corp. (Valley CDC), a nonprofit corporation that addresses the shortage of affordable housing and the needs of the community through economic and housing development.

Valley CDC serves Hampden, Hampshire, and Franklin counties for homeownership and small business services and primarily Amherst, Hadley, Northampton, and Easthampton for affordable housing development.

The bank’s donation to Valley CDC will help support its ongoing work, which includes creating affordable housing and providing financial education to first-time and existing homebuyers, foreclosure prevention services to struggling homeowners, and small business services.

Last year, Valley CDC worked with more than 200 local small businesses and 250 first-time homebuyers with education and counseling. It built 80 affordable apartments in Northampton, has 30 affordable homes under construction in Amherst, and plans to have another 120 apartments built over the next four years.

“We are pleased to be able to support Valley CDC in its efforts to build affordable housing, while supporting first-time home buyers and small businesses in our communities,” Florence Bank President and CEO Matt Garrity said.

Since 1988, Valley CDC has built or preserved more than 400 affordable homes and apartments throughout the community, assisting nearly 9,000 people in their homeownership journey. Additionally, Valley has worked with 3,000 small business owners and entrepreneurs to help their ideas become reality.