Women’s Leadership

Community Engagement

Reinvesting in Pittsburgh’s neighborhoods with Mona Generett, Ph.D.

Mona Generett, Ph.D.

From the Hill District to East Liberty, many of Pittsburgh’s historic neighborhoods are beginning to experience new growth in business and residential development fueled by remarkable public–private partnerships and behind–the–scenes work by people like Mona Generett, Ph.D., Vice President for Community Development at Dollar Bank.

For an inside look into Dollar Bank’s outreach, lending, and grant making strategies to low– and moderate–income communities, the Center for Women’s Entrepreneurship at Chatham University will welcome Dr. Generett as the next speaker in its monthly Women Business Leaders Breakfast Series. “Finding Opportunity in the Strangest Places – Business and Community Reinvestment” will be held on Friday, December 10, 2010, at 7:30–9:30 a.m. at the University’s Shadyside Campus, and the $25 admission fee includes a continental breakfast and networking session which precede the presentation. Registration and information is available at www.chatham.edu/cwe or by calling (412) 365–1253.

Dr. Generett will discuss the deteriorating effects that limited credit has had on primarily urban working class and minority neighborhoods like East Liberty. She will address the factors that have led to growth in these communities, such as the enactment of two major federal statutes–the Home Mortgage Disclosure Act (HMDA) and the Community Reinvestment Act (CRA)–and other initiatives which mitigate credit access issues in low and moderate income communities. As she will explain, understanding the factors that have led to the development and revitalization of Pittsburgh neighborhoods like East Liberty is essential for profitable reinvestment into these long–standing neighborhoods. Most importantly, she will show that with proper reinvestment anyone can discover valuable business opportunities in unlikely places.

Under Dr. Generett’s leadership, Dollar Bank’s federal regulator, The Office of Thrift Supervision, has ranked the bank outstanding or “best in class” for 15 consecutive years in the area of Community Reinvestment. The bank has consistently been highly praised for its small business and community development lending, for its investments and generous grants to organizations that provide services in low and moderate-income areas and to low and moderate–income families, and for its overall community leadership. Dr. Generett’s responsibilities include Dollar Bank’s award–winning Credit Enhancement Program that provides “in house” credit counseling to low and moderate–income borrowers shut out of the housing market because of inadequate income, insufficient savings, excessive debt, and/or poor credit. That program has helped hundreds of residents become homeowners. She is also the founder of Mortgages for Mothers, Dollar Bank’s homebuyer workshop.