Township of Washington, NJ (April 21, 2016) – The OritaniBank Charitable Foundation recently granted $5,000 to the Bergen County Division of Community Development in support of its American Dream Program. This program provides lower to moderate-income families with assistance and resources to purchase a residence in Bergen County.
The donation will directly benefit the American Dream Program, which focuses on partnering with local banks to provide below market interest rates and deferred payback mortgage financing for qualified first-time homebuyers. The grant will also benefit the general operations of the 2016 Bergen County Homeownership Fair, which allows new homebuyers to attend workshops on best practices for buying a new home and speak directly with dozens of realtors, bankers, mortgage companies, credit counselors, home inspectors, and other experts who set up booths at the Fair.
“We are honored to be part of a program that makes it possible for hard working families to fulfill their American Dream,” said Kevin J. Lynch, President of the OritaniBank Charitable Foundation and Chairman, President and CEO of Oritani Bank. “It’s vital for people to have a place they can call home and the American Dream Program provides excellent resources for families to obtain their goals.”
“The American Dream Program would not be possible if it was not for the support from our local community,” said Robert Esposito, Director of Bergen County Division of Community Development. “We are very grateful to OritaniBank Charitable Foundation for its grant that helps provide us with the capacity to successfully promote and operate our annual Homeownership Fair to benefit hundreds of hard-working families throughout Bergen County.”
The American Dream Program provides a second mortgage of up to $40,000. This second mortgage is a non- interest-bearing loan with payback deferred until such time that the applicant sells the home or the title is changed. The program also includes up to $10,000 in matching down payment assistance with no payback required after ten years.
The 2016 Bergen County Homeownership Fair will be held on Saturday, June 11th from 9a.m. to 1p.m. at the Teaneck Marriott at Glenpointe.
About OritaniBank Charitable Foundation:
Oritani Bank established the OritaniBank Charitable Foundation in 2007 to assist not-for-profit organizations that help to improve the quality of life for area residents, especially those members of its communities most in need. Since its inception, the Foundation has donated more than $5 million to local charitable organizations, primarily in support of education, health and human services, youth programs and affordable housing.
About Oritani Bank:
Oritani Bank is a 105-year-old community bank with more than $3.5 billion in assets, based in the Township of Washington, New Jersey. The Bank has 26 branches throughout Bergen, Hudson, Passaic & Essex Counties. Oritani Bank is a publicly held company trading on the NASDAQ with the trading symbol “ORIT.” Oritani Bank offers a full line of deposit and loan services to both retail and commercial customers. For more information, call 888-ORITANI, or visit its website, www.oritani.com
About Bergen County Community Development:
The Bergen County Division of Community Development is the seventh largest Urban County recipient of Community Development Block Grant, HOME Investment Partnership Act, and Emergency Shelter Grant funds in the nation. The division provides a comprehensive and flexible source of funding for municipalities, non-profits, and families to address a myriad of community, housing and economic development needs. Predominantly serving low and moderate-income neighborhoods and families, its programs serve as valuable tools to empower people to create viable urban communities. For more information, please visit http://www.co.bergen.nj.us/
Photographed from left to right: Jacqueline Atkins, Senior Client Representative of Division of Community Development County of Bergen; David Ganz, Bergen County Freeholder; Paul M. Cordero, Vice President of Oritani Bank; John Krantz, Assistant Vice President of Oritani Bank; Angela Drakes, Deputy Director of Division of Community Affairs County of Bergen; and Robert Esposito, Director Division of Community Affairs County of Bergen.