SAN JUAN, PR--(Marketwire - Oct 25, 2012) - Doral Bank, the banking subsidiary of Doral Financial Corporation (NYSE: DRL), with operations in Puerto Rico and the U.S., was nationally recognized for its d hogares (home-ownership) program during the American Bankers Association's Annual Convention in San Diego. Doral Bank was awarded for its endeavors in the Affordable Housing category.
d hogares is a two-part social outreach programs to help families secure or obtain a home. This expansive social initiative includes both a loss-mitigation and a home donation program which assists and enables families to have a home, or retain the one they already have during these difficult economic times. Doral has helped 30,000 families and donated 17 homes to 21 families through the d hogares initiative.
The ABA selection committee selected five banks from a field of more than 140 nominations based on the creativity and thoughtfulness of programs -- traditional or innovative in nature and structure -- that embody the ideals of corporate social responsibility and demonstrate success in measurable terms.
"We are delighted to present Doral Bank for their outstanding efforts," said ABA President and CEO Frank Keating. "This program has had a tremendous impact on their community."
"We are honored to receive this award which represents our commitment to making a difference in the communities we serve," said Glen Wakeman, CEO and President of Doral Financial Corporation. "Our employees have distinguished themselves for their longstanding efforts of giving back to our community."
Entries were divided into five categories including affordable housing, economic development, small business lending, financial education, and volunteerism and philanthropy.
The Community Commitment Awards is a successor program to the ABA Community Bank Awards, which was established in 2005 to commend community banks' exceptional charitable achievements. The program has evolved to better recognize the entire industry's efforts in communities across the country.