First Tennessee creates $50M fund for community grants

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Memphis-based First Tennessee Bank has created a $50 million development fund. This fund affects Chattanooga; Knoxville; Nashville; Winston-Salem, North Carolina; Charleston, South Carolina; and Richmond, Virginia.

Some sponsors include Habitat for humanity and Metropolitan Faith Committee. Their goal is to provide financial empowerment tools and help moderate to low income areas.

They would like to foster community development and have created a board for the committee, to oversee these various areas.

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