BB&T Corp. said Thursday it has received a Bank Enterprise Award of $330,000 from the U.S. Department of the Treasury as a part of the Community Development Financial Institutions Fund.

BB&T earned the award for providing a $3 million loan to the Center for Community Self-Help, a community development financial institution in Durham. President Clinton created the community development fund in 1994 to expand the availability of credit, investment capital, and financial services in distressed urban and rural communities.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.