IAEGER, WV (WVNS) – Today it was announced that Pioneer Community Bank in Iaeger, W.V., will receive funding through the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund).
Shelly Moore Capito and Joe Manchin announced the funding earlier today, April 13, 2022. The funding comes from the CDFI fund, which was established to reinvest into economically distressed communities, generating further economic opportunity. The total amount of funding for community development will be 170,699 dollars. Senators Capito and Manchin, both members of the Senate Appropriations Committee, made comments about the funding being given.
“This funding will help strengthen Pioneer Community Bank in McDowell County, specifically improving access to capital for residents and small businesses. It’s important that we continue to invest in the potential of our downtowns in West Virginia, and I look forward to the impact this funding will make in Iaeger.”Senator Shelley Moore Capito (R-WV)
“Investing in West Virginia’s communities creates good-paying jobs and spurs economic growth in the region and across the Mountain State. I am pleased Treasury is investing in the Pioneer Community Bank to boost their business and spur new opportunities in Iaeger, and I look forward to seeing the positive impacts of this funding. As a member of the Senate Appropriations Committee, I will continue to advocate for funding that supports West Virginia communities and our economy.”Senator Joe Manchin (D-WV)