CDCLI Awarded $50,000 Grant from Capital One Foundation

Centereach, N.Y.  (January 10, 2019) – Community Development Corporation of Long Island (CDCLI) was awarded a $50,000 grant from Capital One Foundation to support its Homeownership Center.  The grant is being used by CDCLI to fund its pre and post purchase programs and services that help Long Islanders retain assets and wealth, while addressing housing needs in order to achieve and sustain affordable, long-term homeownership.

These programs include CDCLI’s: Financial Fitness, Health, and Wealth (FFHW); Home Maintenance Training Program (HMTP); and Home Equity Conversion Mortgage (HECM) counseling.  “In 2018, CDCLI’s Homeownership Center helped more than 1,100 customers prepare for, achieve, or preserve the dream of homeownership and with this funding, we are able to continue to help hundreds of Long Islanders realistically assess their readiness for a home purchase, understand their financing and down-payment options, participate in Home Maintenance Training, and navigate the process related to obtaining a reverse mortgage,” said Gwen O’Shea, President and CEO of CDCLI.

Capital One’s Investing for Good Grants are a commitment to enhance the well-being of individuals and families in the local communities that Capital One serves.  They focus on four issues including affordable housing, financial well‑being, small business development, and skills for the 21st Century, all of which strengthen communities and prepare them for robust economic futures.

About Community Development Corporation of Long Island

Community Development Corporation of Long Island (CDCLI) invests its resources, talents, and knowledge in the people of Long Island, helping them to achieve their dreams of an affordable home in a vibrant community.  Since its inception 49 years ago, CDCLI has assisted more than 220,000 Long Islanders and invested $1.45 billion into the communities in which they live.  CDCLI is part of the NeighborWorks network, an affiliation of more than 240 nonprofit organizations located in every state, the District of Columbia and Puerto Rico.  The NeighborWorks network was founded and is supported by NeighborWorks America, which creates opportunities for people to live in affordable homes, improve their lives and strengthen their communities.  For more information, please visit www.cdcli.org, like us on Facebook at www.facebook.com/cdcoflongisland, and follow us on Twitter and Instagram @cdcoflongisland.

About Capital One Foundation

Capital One Foundation’s philanthropy program provides grants to national and local organizations that support education, financial literacy, and community development initiatives.  In addition, they build partnerships with nonprofit organizations with missions that complement these focus areas.  By combining philanthropic dollars with strong, enduring partnerships, they are able to maximize the number of residents reached and the overall impact within a community.

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $247.2 billion in deposits and $362.9 billion in total assets as of September 30, 2018.  Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels.  Capital One, N.A.  has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia.  A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 100 index.