Recognizing the importance of this need, Governor Pataki and the Banking Department have acted to encourage these efforts by more banks. We have sponsored statewide brainstorming sessions between banks and childcare providers that have generated many proposed partnerships. I will be in Binghamton later this week at a conference hosted by the Banking Department to encourage such partnerships in that locality. As I have often stated, I can think of no other topic as important as our collective responsibility for the growth and development of young people. Another effort involved the creation of The Gateway Youth program in Elmont.
Many banks now take the lead in supporting quality child and youth-centered programs.
And we encourage banks not to spread small amounts of money across different programs. And the Banking Department supports these efforts by granting banks double CRA Credit. Our challenge is to explore opportunities for the public and private sectors to form partnerships to further expand support for these programs. While the greatest benefit would be a long-term financial commitment to provide capital grants or operating funds, partnership opportunities also include loans and technical assistance to further build the capacity of the program. It has been said that great nations write their autobiographies in three manuscripts.