DETROIT – First Federal of Michigan recently announced a Community Action Plan to help support revitalization of the City of Detroit through a commitment to provide $212 million in residential, consumer and business loans and investments in the city during the next three years, beginning in January.

The plan was developed jointly with the Detroit Alliance for Fair Banking. Under the plan, the company will commit to $105 million in home mortgage loans, $60 million in consumer loans, $35 million in commercial real estate lending and $12 million in small business lending.Through emphasis on commercial lending and investment, the company intends to finance the development, purchase, rehabilitation or construction of multifamily structures or commercial complexes in low-to-moderate income areas of the city.

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