Solvay Bank, in Partnership with Federal Home Loan Bank of New York, Awards $50,000 to Local Small Businesses and Non-profit Organizations

Syracuse, New York – In partnership with the Federal Home Loan Bank of New York, Solvay Bank awarded 10 local small businesses and non-profit organizations a $5,000 grant under the 2023 Small Business Recovery Grant (SBGR) Program.

The grant focuses on supporting small businesses and non-profit organizations that have faced economic challenges due to the rate environment, inflation, supply-chain constraints, and/or rising energy costs. Funds may be used for reasonable and necessary expenses. Solvay Bank awarded the grant checks to the 10 local recipients in December. 

“As a community bank, we believe in the power of small businesses and non-profit organizations to drive economic growth and positively impact our local neighborhoods,” said Michele Fernandez, VP Enterprise Risk Manager & CRA Officer at Solvay Bank. “It is our mission to invest back, ensuring a brighter future for all. We thank the small businesses and local organizations for their commitment to our community.”

Founded in 1917, Solvay Bank is the oldest community bank established in Onondaga County. Solvay Bank has nine branch locations in Solvay, Baldwinsville, Camillus, Cicero, DeWitt, Liverpool, North Syracuse, Westvale, and downtown Syracuse in the State Tower Building. Solvay Bank’s Insurance Agency, Inc. is a full-service general insurance agency. For more information about Solvay Bank, visit www.solvaybank.com.

The FHLBNY helps community lenders advance housing and community growth in New Jersey, New York, Puerto Rico and the U.S. Virgin Islands. The FHLBNY is part of the congressionally chartered, nationwide Federal Home Loan Bank System and increases the availability of mortgages and home finance to families of all income levels by assisting members in more effectively serving their neighborhoods and meeting their Community Reinvestment Act responsibilities. More information at www.fhlbny.com.