Investment to help provide affordable housing to South Jersey residents
MOORESTOWN, NJ – Moorestown Ecumenical Neighborhood Development, Inc. (MEND) announced it has been awarded a $8,500 grant from OceanFirst Bank N.A. to support MEND’s mission of providing affordable rental housing in South Jersey.
“OceanFirst Bank is committed to the people and communities we serve and is pleased to support MEND in its mission to provide safe and affordable rental housing,” said Michael Boyd, Esq., Senior Vice President at OceanFirst Bank.
OceanFirst’s donation will help MEND keep rent at below-market levels, thus easing the costs for current and future residents who can then better afford other important necessities like food, clothing and health care. OceanFirst Bank is pleased to provide assistance to help meet the needs of borrowers in all segments of the communities the Bank serves, including low-to-moderate-income neighborhoods, which is consistent with the expectations of the Community Reinvestment Act, enacted in 1977.
“We are grateful for OceanFirst’s commitment to giving back,” said Eileen Wirth, President and CEO of MEND. “COVID-19 has created many challenges for our residents, and generous donations like this help us extend a helping hand to those who need it most.”
Moorestown Ecumenical Neighborhood Development, Inc. (MEND) is a private, nonprofit, housing development organization founded by several Moorestown churches in 1969. MEND is a national and state award-winning developer dedicated to providing safe and affordable rental housing to senior citizens, disabled persons, and families of low and moderate income. MEND has developed 771 residential units at 30 locations in the Burlington County region. Over the past 50 years, MEND’s affordable housing production efforts have represented a $150 million real estate investment in the region. Visit www.mendinc.org for more information.
OceanFirst Bank N.A., founded in 1902, is a $11.45 billion regional bank operating throughout New Jersey, greater Philadelphia and metropolitan New York City. OceanFirst Bank is a subsidiary of OceanFirst Financial Corp. which trades on NASDAQ with the symbol OCFC. OceanFirst Bank delivers commercial and residential financing solutions, wealth management and deposit services and is one of the largest and oldest community-based financial institutions headquartered in New Jersey.