Pinnacle Announces Opening of Economic Empowerment Resource Center in North Nashville

PEER Center to provide community with financial education and support

Pinnacle Financial Partners has announced the opening of its Pinnacle Economic Empowerment Resource (PEER) Center in North Nashville. The new PEER Center is a local hub for community members in need of financial services and uplift and will be dedicated to helping improve economic equity and shared prosperity. 

Pinnacle opened its first PEER Center in 2022 in Memphis, TN. PEER Centers are full-service banking offices offering a complete line of financial products and services to historically underserved and underbanked communities. Firmwide, Pinnacle operates PEER Centers in Memphis and Nashville, with plans to open more in 2024 in Atlanta, Durham and Charlotte. The Nashville location is located at 1402 Buchanan St., Ste. 105, 37208.

“We will always seek for Pinnacle to make a significant positive impact on the communities we serve,” said Terry Turner, Pinnacle president and CEO. “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.”

Because of Pinnacle’s geographic model of local leadership and decision-making, the new Nashville PEER Center’s offerings can be customized to meet the specific needs of the 37208 community. Offerings include financial education and coaching, affordable homeownership, and small-business startup and growth. Personal financial planning will be available along with personalized guidance on wealth building and management. Along with all traditional banking services, the PEER Center offers specialized lending designed for people living with low to moderate incomes and/or in minority communities.

In addition, the PEER Center is building and strengthening nonprofit partnerships in the local area. The new Nashville location has already established partnerships with community organizations like Corner to Corner to provide not only financial education and services, but also workforce development, family services, youth services, social change and business training. Nonprofit partners will be able to use the space to offer services, classes or workspace. 

“We’re very excited about the PEER Center in Nashville. It will provide our community members with equitable access to financial services and opportunities to start their path toward financial independence,” said Shana Berekely, executive director of Corner to Corner. “We expect the partnership with the PEER Center to further the mission of Corner to Corner and help all our neighbors flourish on their own terms.”

In its recent Corporate Social Responsibility Report, Pinnacle reported having $1.74 billion committed to investments and lending for low- to moderate-income housing, small businesses and minority-owned institutions, as well as grants to nonprofits. This includes $361 million in investments to create more than 4,600 units of affordable rental housing and $213 million in home loans. Altogether in 2023, Pinnacle associates spent 33,643 hours volunteering for local causes.

Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. The firm is the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA, according to 2022 deposit data from the FDIC, and is listed by Forbes as No. 27 among America’s Best Banks, higher than any other bank headquartered in Tennessee, North Carolina, South Carolina or Georgia. Pinnacle also earned a spot on the 2023 list of 100 Best Companies to Work For^® in the U.S., its seventh consecutive appearance, and was recognized by American Banker as one of America’s Best Banks to Work For 10 years in a row and No. 1 among banks with more than $11 billion in assets in 2022.

Pinnacle owns a 49% interest in BHG Financial, which provides innovative, hassle-free financial solutions to health care practitioners and other professionals. Great Place to Work and FORTUNE have listed BHG as a best workplace in multiple categories since 2016.

The firm began operations in a single location in downtown Nashville, TN, in October 2000 and has since grown to approximately $48.0 billion in assets as of Dec. 31, 2023. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in 17 primarily urban markets across the Southeast.  

Additional information concerning Pinnacle, which is included in the Nasdaq Financial-100 Index, can be accessed at www.pnfp.com.