Republic Bank enables numerous initiatives to help battle inequities found in our Black and African American community, including the unique bank loan partnership to fund the final capital for the Louisville Urban League’s new Sports & Learning Center in West Louisville.

We were recently recognized for two other programs – The Republic Bank Foundation YMCA and Bellarmine University Rubel School of Business’s Women of Color Entrepreneurs Program.

THE REPUBLIC BANK FOUNDATION YMCA

The $33.5 million, 77,500 square-foot facility located at 1720 West Broadway was one of the first major investments in the West Louisville neighborhood in several decades, and it includes a Republic Bank banking center providing more than just banking services to the West End community through financial literacy resources and training.

“People ask me what a bank is doing in a health facility. My response to that question goes back to the concept of health equity. Wealth building and fiscal literacy are critical social determinants of health. Access to the tools to increase fiscal literacy and build wealth are critical to a community increasing equity and wellbeing,” says Steve Tarver, President and CEO of the YMCA of Greater Louisville. “Republic Bank was an early partner in this vision of health equity and bringing Community Integrated Health to West Louisville. It was a long and complex process, and we remain grateful for the partnership and perseverance by Republic Bank that helped turn this vision into a reality.”

BELLARMINE UNIVERSITY RUBEL SCHOOL OF BUSINESS’S WOMEN OF COLOR ENTREPRENEURS LEADERSHIP PROGRAM

Since 2021, Republic Bank has partnered with this program through financial support and involvement of Republic executives. The program is designed to help the inaugural class of ten women of color develop their business acumen through a series of six educational modules, including a capstone experience involving developing and presenting a business model.

Participants completing the six educational modules will receive a certificate, along with valuable mentorship and skill development. To recruit participants, the university advertised and posted notices in social media outlets and not-for-profit agencies. It received over 80 applicants for the first cohort, and through interviews and referrals narrowed the first cohort down to ten women.

Instructors include a combination of women faculty from the Rubel School of Business, minority women entrepreneurs, senior leaders from Republic Bank, and others representing the business and non-profit communities.

OVERCOMING CHALLENGES TO MAKE AN IMPACT

Republic Bank takes on the Community’s challenges as its own challenges, and COVID certainly added to the already daunting obstacles faced by our communities who have been struggling with inequity for years.

A program such as Bellarmine’s Women of Color Entrepreneurs requires capital and support from the community to launch and provide value. “We would not have been able to launch this program without Republic Bank’s support, especially in the midst of a pandemic,” said Dr. Patricia Carver, Director of the Women of Color Entrepreneur-Leadership Certificate Program. “Republic’s financial commitment allowed us to develop and launch the program and also to provide scholarships to women from our community so they could be in the program.”

The Republic Bank Foundation YMCA opened in December 2019 to a flurry of excitement and activity, but quickly needed to change course to navigate the impacts of COVID-19, shutting down in March 2020 for 77 days. Republic Bank worked throughout 2020 by collaborating with the YMCA and its partners. Even during the early days of the shut-down, services continued to ensure critical physical, emotional, and financial wellness and economic resources remained available to area residents.

Jonathan White, a single dad, was a therapist for Norton Healthcare in 2020 when the pandemic quickly progressed, and things started closing. Jonathan’s first worry was how to take care of his young daughter. “When COVID hit, it just sent everything crazy, if you will, wondering, what am I going to do about childcare? How am I going to go to work?” He couldn’t believe his luck when he found out that the Republic Bank Foundation YMCA was offering emergency childcare and would provide an environment where his daughter could still interact with other children while schools were closed. “When I was looking at locations it was just like a blessing from God that the YMCA was one of the sites.”

MAKING AN IMPACT THROUGH INVESTMENTS AND ACTIONS

Republic Bank Chairman and CEO Steve Trager said, “While the pandemic quickly changed how we would deliver on our commitment, being able to continue providing financial literacy support through alternative means throughout the year was really important to us.”

Republic continues to provide financial literacy programs taught by Bank associates through its banking center location at the Republic Bank Foundation YMCA, beginning before and throughout the pandemic. Programs include an 8-week course for women called “Beyond the Budget,” covering budgeting, homeownership, “Banking 101,”and mental financial health; a 7-part series of 2 ½-hour sessions with the Louisville Urban League; and sessions with area high school juniors and seniors on personal finance and banking. One particularly exciting program was a partnership with B96.5 radio and on-air personality Bella Rae entitled “96 Days of Financial Freedom,” in which the Bank provided financial tips on-air and on social media, and hosted financial courses at the YMCA initially, before going to zoom as the pandemic heightened.

Republic Bank believes in going beyond just writing checks to make sure that programs truly benefit the communities they are intended to serve. Dr. Carver pointed out, “As important as their financial commitment to the Women of Color Entrepreneur program at Bellarmine, is the participation of Republic executives in the sessions. Bank executives helped conduct specific sessions on topics such as financial acuity, social media, and branding. Their participation very much made a difference for the program.”

Dr. Carver’s sentiments were validated by Black women entrepreneurs that were part of the inaugural year of the program. “The branding and social media classes were awesome,” said Angela Hatchett, a program participant who is growing her own business, Hatchett Tax Solutions. “Hearing directly from Republic’s experts really gave me the practical advice I needed to grow my social media presence, and to develop my stories and posts and engage with clients and the community.” Hatchett summed up the program by saying, “This put me on the journey to, ‘You got this! You can do this!'”

The benefits of the program go well beyond the classroom learning and certificates. “The program has been a blessing, especially as we’ve built a sisterhood with each other,” said Latasha Harrison, whose Live 2 Learn Center provides Black and African American individuals and families with tools and counseling to help get their households on the right path. “These are a group of Black females doing amazing things in their community. And now and in the future, I know we will continue to support each other.”

OUR CULTURE OF CARING BEGINS WITH OUR LEADERSHIP

“Innovating for the future is an important value at Republic. Bellarmine’s Women of Color Entrepreneurs Program is a prime example of our innovation in action. Contributing funding to launch this program, sharing our experience through teaching courses, and providing scholarships for entrepreneurially minded women who face barriers from inequity are actions we’re happy to take to support and inspire our future business leaders in Louisville.” – Logan Pichel, President, Republic Bank & Trust Company

“The Republic Bank Foundation YMCA is much more than an infrastructure investment in West Louisville. It’s an investment in people, designed to meet people’s needs—whether during a typical time or while we’re confronting one of the biggest community health crises in our lifetimes. Knowing we and our many YMCA partners were successful in keeping essential services in place and adapting programs to serve our community makes me proud.” – Steve Trager, Chairman and CEO, Republic Bank & Trust Company

To see more about Louisville Business First’s 2021 Business Impact Award, please click here to visit their website.