Other initiatives
Specific donation trusts
In order to create conditions for supporting public interest corporations, authorized NPOs, and other leaders of the "New Public," the fiscal 2011 tax system revision included the establishment of the "Specific Donation Trust" system to encourage individuals to use trusts to make charitable contributions. MHTB, therefore, began in March 2012 to handle new products that invest and manage funds entrusted by customers, and make annual contributions of principal and investment income to public interest corporations and other beneficiaries.
Initiatives related to LGBT and other gender minorities
Along with rising care and concern in society about LGBT* minorities, in the housing loan area, Mizuho has made arrangements to treat partners of the same gender as dependents. Also, through Multifunctional Safety Trust, Mizuho has introduced products and services that enable customers to specify their partners of the same gender as asset recipients.
* LGBT is an acronym for lesbian, gay, bisexual, and transgender, and here also includes all other non–heterosexual sexual orientations and non–binary gender identities.
Further Expansion of Housing Loan Accessibility for Customer
Financing for NPOs engaged in affordable housing development in the U.S.
The U.S. Community Reinvestment Act (CRA) encourages financial institutions to work in partnership with government and community–based organizations to meet the credit needs of their local communities. In line with the CRA and the Mizuho Financial Group's commitment to leveraging its financial expertise to address societal needs, Mizuho Bank's U.S. commercial bank subsidiary, Mizuho Bank (USA), regularly provides community development loans, investments, grants, and services to innovative nonprofit organizations that work to strengthen low and moderate income neighborhoods of New York City, where the bank is headquartered.
Mizuho Bank (USA) has a robust portfolio of community development loans and investments supporting the creation and preservation of affordable housing and the provision of primary healthcare and other services, and has consistently received an outstanding CRA rating from federal and state banking regulators. Mizuho's corporate foundation, the Mizuho USA Foundation, makes charitable grants for initiatives that contribute to the economic vitality of urban neighborhoods. And Mizuho staff provide volunteer assistance by serving on nonprofit boards and committees, or through skills–based and hands–on activities.
One of Mizuho Bank (USA)'s longtime community development clients is Local Initiatives Support Corporation (LISC), a US non–profit community development financial institution. LISC takes a holistic approach to improving underserved communities with programs encompassing housing, education, health, justice, and economic development, among others. LISC is a leader in providing financial and technical assistance to a broad range of community based partners across the US. Nationally, the organization has attracted and deployed $26.7 billion in investments. In New York, Mizuho provides philanthropic support for LISC's Developers of Color Training Program, enabling minority–owned real estate developers to expand their capacity and project access, while becoming more competitive as the city's affordable housing project pipeline grows and more market opportunities arise. Mizuho previously supported LISC's Two Shades of Green program initiating sustainable, healthy, and cost–effective measures into existing affordable housing. Mizuho is proud to be one of LISC's all–time top lenders, and to support nonprofit clients like LISC who have such a positive impact on our local communities.
LISC helps to provide affordable housing in under-resourced areas of New York City.