National Cooperative Bank provides $4 million line of credit to Ohio Capital Finance Corporation for low-income housing projects in Brown County

National Cooperative Bank (NCB), a leading financial institution which provides banking products and services to the nation's cooperatives and socially responsible organizations, recently closed a $4 million line of credit to Ohio Capital Finance Corporation (OCFC) to finance projects located in southern Ohio, where NCB has a local presence. 

With more than a decade of lending history with OCFC, NCB’s funds will provide bridge financing for two targeted housing projects within Ohio’s Brown County.

“As a mission-focused institution, we have an uncommon mandate to ensure our efforts benefit those most in need,” stated Ann Fedorchak, Managing Director at National Cooperative Bank. “Working with Ohio Capital Finance Corporation, a Community Development Financial Institution, with a successful track record in identifying affordable housing projects in Ohio is a great partner to help serve our mission.”

Two projects identified include Ashley Grove, an affordable senior housing community in Mt. Orab, and Fair Park, an affordable rehabilitated family housing community in Sardinia.

About National Cooperative Bank

National Cooperative Bank is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. NCB provides financial products and services for the nation’s cooperatives, their members, and socially responsible organizations. Headquartered in Washington, DC, the Bank has offices in Alaska, California, New York, Ohio and Virginia. To learn more, visit www.ncb.coop, National Cooperative Bank on Facebook, or on Twitter @coopbanking.