Pub. 6 2018 Issue 2

www.uba.org 24 Bank Kudos ALLY BANK Ally Bank, The Other Side Academy Use CRA Loan to Fuel Expansion in Salt Lake City A Community Reinvestment Act (CRA) loan from Ally Bank is helping a Salt Lake City nonprofit double its capacity to assist peo- ple dealing with homelessness, drug addiction or those facing long- term incarceration. In April, Diane Morais, president of Consumer and Commercial Banking Products for Ally Bank, attended the ribbon cutting cel- ebration for The Other Side Academy’s (TOSA) building expan- sion, which will add more than 100 beds along with office space, computer labs and a training center for students. Joining Morais were Tim Stay, CEO of The Other Side Academy, and Joseph Grenny, The Other Side Academy chairman. TOSA’s two-year, live-in program teaches students the skills they need to help turn their life around through vocational training schools – including The Other Side Movers and The Other Side Thrift Boutique – which also generates income that allows the academy to be self-sustainable and privately run. Ally Bank also made $40,000 of contributions to support the opening of the Thrift Boutique and to develop a new business venture. Forty percent of the funding for the new building came from do- nors, and Ally’s CRA loan financed the rest. Revenue generated by the student-run companies will help pay back the loan. Stay estimates that the facility will save taxpayers approximately $300 million in potential incarceration costs over the next 40 years. BANK OF UTAH Bank of Utah Donated Two Tons of Food to 10 Food Pantries Across Utah Valley View Elementary collected nearly a ton of food for the drive Bank of Utah saw great success with its first annual “Kick Child- hood Hunger” food drive, held March through April, 2018. Cus- tomers, bank associates and friends donated cash and non-perish- able food at bank branches and loan offices throughout Utah. The bank then donated two tons of food to 10 community pantries. “We’re very pleased with our inaugural food drive,” said Roger Christensen, Bank of Utah senior vice president of marketing and communications. “Hunger among children is a very troubling is- sue in our state, so we tried to make donating easy for local com- munities by collecting food at our banks.” Valley View Elementary in Roy, Utah, also partnered with the bank on a school-wide food drive, collecting 3,000 food items in four days. Bank of Utah awarded cash prizes of $400 and $200 to the top two classrooms that collected the most. Bank of Utah plans to expand the food drive next year to include more schools and business partners. The ten food pantries includ- ed Bountiful Food Pantry, Box Elder Food Pantry, Cache Food Pantry, Carbon Cares for Kids, CCS of Northern Utah – Joyce Hansen Hall Food Bank, Crossroads Urban Center, Switchpoint, Ribbon Cutting – (L to R) - Lt Governor Spencer Cox, Joseph Grenny, Chairman of the Board of The Other Side Academy, Di Morais, President of Consumer and Commercial Products at Ally Bank, David Litvack, Deputy Chief of Staff of the Salt Lake City Mayor’s Office, and Gregory Hughes, Speaker of the Utah House. Valley View Elementary peer leaders box and load the school’s 3,000 food items they collected for Bank of Utah’s “Kick Childhood Hunger” food drive.