BBVA Compass Steps in To Help City of Mission Boost Small-Business Ecosystem in Rio Grande Valley
• Its $15,000 grant supports creation of education facility for small businesses
• The Center of Education and Economic Development had grand opening on Oct. 13
HOUSTON – BBVA Compass is shoring up efforts in Mission, Texas, to build a small-business ecosystem capable of supporting the booming growth in the city and surrounding Rio Grande Valley.
The BBVA Compass Foundation gave a $15,000 grant to the city’s Economic Development Corporation to support its new Center of Education and Economic Development. The facility will offer educational programs for small businesses and entrepreneurs in the Rio Grande Valley, with classes in science, technology, arts and math. The grant adds to BBVA Compass’ array of efforts in the area, which includes investments in affordable housing projects.
“This region is bursting at the seams with growth and potential,” said BBVA Compass Upper Rio Grande Valley Market President Jason Leal. “It is our responsibility, and part of our commitment, to foster that growth. One of the surest ways to do that is by being attentive to the needs of our small businesses. We’re here to help them get all they can out of this age of opportunity.”
The Center of Education and Economic Development held its grand opening at 801 N. Bryan Road on Oct. 13 and will begin holding classes as needed for local businesses. This marks the first time BBVA Compass has given a grant to Mission EDC, which is part of the City of Mission and is tasked with creating a first-class environment for businesses to operate and strengthening the area’s workforce.
Other recent actions BBVA Compass has taken to assist Valley communities include a recently-closed $5 million equity equivalent investment with Affordable Homes of South Texas Inc., and a low-income housing tax credit transaction, which includes $17.4 million for new construction, for the 140-unit La Pamilla multi-family housing project in Edinburg, Texas.
The Center of Education and Economic Development will also host a financial literacy course on October 27 conducted by BBVA Compass employees. The effort is part of BBVA Compass’ Day of Service initiative, where employee volunteers fan out across their communities to share their expertise.
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About BBVA Group
BBVA Compass is a subsidiary of BBVA Compass Bancshares Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a customer-centric global financial services group founded in 1857. The BBVA Group is the largest financial institution in Spain and Mexico, has leading franchises in South America and the Sunbelt region of the United States and is also the leading shareholder in Garanti, Turkey’s largest bank based on market capitalization. Its diversified business is focused on high-growth markets and it relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies best practices. The Group is present in the main sustainability indexes. More information about the BBVA Group can be found at bbva.com.
About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates 674 branches, including 345 in Texas, 89 in Alabama, 75 in Arizona, 62 in California, 45 in Florida, 38 in Colorado and 20 in New Mexico, and commercial and private client offices throughout the U.S. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (4th). BBVA Compass was recently named Best Digital Bank in North America by global finance magazine Euromoney, and earned top nods for best mobile app and best regional bank in the South & West in Money magazine’s annual list of the Best Banks in America. Additional information about BBVA Compass can be found at bbvacompass.com, by following @BBVACompassNews on Twitter or visiting newsroom.bbvacompass.com.
Editor’s Note: BBVA Compass is a trade name of Compass Bank.