CHARLESTON, W.Va. — U.S. Senators Shelley Moore Capito (R-W.Va.) and Joe Manchin (D-W.Va.), both members of the Senate Appropriations Committee, announced that Pioneer Community Bank in Iaeger, W.Va., will receive $170,699 through the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund).
“This funding will help strengthen Pioneer Community Bank in McDowell County, specifically improving access to capital for residents and small businesses,” Senator Capito said. “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.”
The CDFI Fund was established to reinvest into economically distressed communities, generating further economic opportunity.
“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,” Senator Manchin said. “As a member of the Senate Appropriations Committee, I will continue to advocate for funding that supports West Virginia communities and our economy.”