RISMEDIA
Nehemiah Community Reinvestment Fund Announces $100,000 Investment from Western Sierra Bank
By RISMEDIA
7 March 2005
Nehemiah Community Reinvestment Fund (NCRF) reports that Western Sierra Bank, a subsidiary of Western
Sierra Bancorp, has invested $100,000 in NCRF.
Western Sierra Bank's investment will be used to make loans for affordable housing, community facilities
and economic development in Northern and Central California, including Contra Costa, Sacramento, Placer, Sutter,
El Dorado, San Joaquin, Stanislaus, Tuolumne, Calaveras, Amador and Lake Counties.
Earlier this year Western Sierra Bank made an addition $100,000 grant to support and
expand Nehemiah's homeownership education services.
"Nehemiah created NCRF to provide essential funding for community organizations that are
making a real difference here in our neighborhoods and across the country. We are grateful for Western Sierra Bank's
continued financial support to help us fulfill this mission," said Scott Syphax, president and chief executive officer of
Nehemiah Corporation of America. "Regionally-focused affordable housing and community development programs are vital
components to comprehensive community revitalization. As we remain committed to serving the broad range of housing needs
of area residents across the country and especially here in Northern and Central California, we are proud to lead the charge
with Western Sierra Bank as a partner."
Nehemiah Corporation of America founded NCRF in 1999 to make loans and equity investments in community
development projects in California. In 2003, the fund's mission expanded nationally, targeting community and faith-based
nonprofit organizations developing affordable housing - including workforce, transitional and special needs housing -
community facilities such as noprofit offices, senior centers and childcare centers, and economic development projects
in low-income and underserved communities. Western Sierra Bank's $100,000 investment has a 5-year term and has been designated
to specifically target affordable housing, community facilities and economic development projects.
"Western Sierra Bank is pleased to support the Nehemiah Community Reinvestment Fund's growing
programs in Northern and Central California. We remain dedicated to financing these essential community investment initiatives
that help local families and businesses," said Kirk N. Dowdell, president and chief executive officer of Western Sierra Bank.
"Following our recent grant made in support of Nehemiah's homeownership education services and down payment assistance
progam, this investment in NCRF reaffirms Western Sierra Bank's ongoing commitment to Nehemiah as we work together
to improve the communities in our region."
For more information, visit http://www.nehemiahcorp.org Or http://www.wsnb.com
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