Authored By: Candace Whitman
Our parent company, Pinnacle Financial Partners, opened a Pinnacle Economic Empowerment Resource (PEER) Center in Nashville. The PEER Center aims to meet the needs of North Nashville residents by offering financial products and education specially tailored to limited-income households.
The new Nashville location is the second PEER Center Pinnacle opened, with the first opening in Memphis in 2022. Pinnacle's goal is to use these centers to serve the needs of underserved and underbanked communities.
The decision to establish this center comes at a crucial time for Nashville, where the city's rapid growth has led to a widening wealth gap, often displacing long-term residents due to escalating prices. Pinnacle recognizes the importance of inclusive economic growth.
Pinnacle President and CEO Terry Turner said in their release, "We will always seek for Pinnacle to make a significant positive impact on the communities we serve. As cities across the Southeast continue their hot streak of economic growth, improving quality of life means we all have to fight for economic equity and shared prosperity. Everyone deserves the opportunity to take part in and benefit from our growing economies. Banks can play an outsized role in that if we act with intention about educating, coaching and offering accessible financial services to as many people as we can. That's what the PEER Centers are all about."
Pinnacle is also committing substantial financial resources toward supporting low- to moderate-income housing, nonprofits, minority institutions, small businesses, and affordable rental housing. This initiative reflects Pinnacle's proactive approach to addressing socioeconomic disparities and contributing positively to the communities it serves.
Pinnacle plans to open more PEER Centers in other Southeastern cities, like Atlanta, Charlotte, and Durham, North Carolina.
The establishment of PEER Centers resonates with us greatly at Advocate Capital. We support contingent fee trial lawyers who frequently represent underserved and underrepresented plaintiffs. They help their clients fight for justice against formidable opponents such as large corporations and insurance companies. We believe everyone deserves equal access to justice and financial resources and are grateful to have a parent company with the same values.
To read more about the Nashville PEER Center, read Pinnacle's press release here.
