Woodforest Financial Group Launches New Impact Investing Firm

The Woodlands, Texas, October 11, 2022 - Woodforest Financial Group, Inc. (Woodforest) announced today the launch of Allivate Impact Capital^SM, its new subsidiary designed to manage impact investing funds across asset classes. The female-led firm will create diversification for Woodforest's shareholders while being responsive to the needs of communities throughout the nation. Allivate Impact Capital^SM will invest in projects supporting the burgeoning environmental, social, and corporate governance (ESG) and impact investing industries. Woodforest will leverage the strong track record and expertise of its award-winning Community Development Leadership Team to manage the new subsidiary.

"Based on the success and insights of our impact investing work, we want to share what we have learned with existing and new community partners while providing value for our shareholders and communities we serve," said Jay Dreibelbis, President, and Chief Executive Officer, Woodforest National Bank, and Advisor for Allivate Impact Capital^SM.

Allivate Impact Capital’s mission is to deploy innovative capital solutions that elevate communities, alleviate poverty, and activate entrepreneurial ecosystems. We are an impact investing firm managing capital across asset classes in ways that are responsive to community needs.

Doug Schaeffer, Board Chairman, Managing Director, and Co-Founder of Allivate Impact Capital℠ added: "Our firm will boldly stand as a counter-narrative that there does not need to be a tradeoff between monetary returns and impact and ESG investing. Our strategic investments will seek to provide solid financial returns on a pre-tax incentive basis while also yielding positive social returns. With our team's innovative approach and strong track record, our goal is to make a lasting and measurable impact to elevate underinvested communities across the country."

"Allivate Impact Capital^SM will make catalytic investments that aim to generate attractive returns for investors while alleviating some of the most urgent needs within communities across the country such as affordable housing, community and economic development, workforce development, and access to resources like food and healthcare. We are intentional about engaging community members and local leaders to understand their long-term vision and investing in ways to support this vision," said Noelle St.Clair Lentz, CEO, Managing Director, and Co-Founder of Allivate Impact Capital^SM.

Allivate Impact Capital^SM uses the Opportunity Zone Impact Reporting Framework developed by the U.S. Impact Investing Alliance, the Beeck Center for Social Impact + Innovation at Georgetown University, and the Federal Reserve Bank of New York to operationalize the impact goals of its investments.