HILLIARD, Ohio--(BUSINESS WIRE)--The ADS Foundation today announced a $5 million deposit into Adelphi Bank, a Black-owned financial institution with a deep commitment to serving the community. The ADS Foundation is funded primarily by Advanced Drainage Systems, Inc. (NYSE: WMS), a leading provider of innovative water management solutions in the stormwater and onsite septic wastewater industries and one of the largest plastic recyclers in North America.
Adelphi Bank is the first Black-owned bank established in the United States since 2000. When it was founded in January 2023, it was the only Black-owned bank in Ohio and, according to the FDIC, is one of just 23 Black-owned banks in the country.
From its location in the King-Lincoln Bronzeville community to the root of its name, their focus is to uplift central Ohio's communities of color through access. The African American community in Columbus has a rich history in faith, the arts, sports, and politics, yet many may be unaware of the community's history in finance.
This partnership aligns with the ADS Foundation's mission to create resilient communities with equitable access to innovative and impactful programs that support recycling, education, mental health, housing, and water.
"At ADS, we believe that investing in the communities we serve is key to our mission of sustainability and empowerment," said Kevin Talley, President of the ADS Foundation. "Our collaboration with Adelphi Bank is an extension of our dedication to supporting local businesses, creating jobs, and fostering economic equality."
Adelphi Bank shares in this mission and is dedicated to reinvesting these funds back into the community through loans, financial services, and support for small businesses, with a particular focus on those that are minority- and women-owned.
Together, the ADS Foundation and Adelphi Bank are proud to make a lasting, positive impact and to drive meaningful change in the communities we are part of.
About the ADS Foundation
The ADS Foundation seeks to improve quality of life by building resilient and sustainable communities that inspire social equity in recycling, education, mental health, housing, and water. Established by Advanced Drainage Systems, Inc. in 2020, the ADS Foundation is committed to partnering with organizations that improve availably and access in these five areas. To learn more about the ADS Foundation, go to .
About Advanced Drainage Systems, Inc.
Advanced Drainage Systems, Inc. is a leading manufacturer of innovative stormwater and onsite septic wastewater solutions that manages the world's most precious resource: water. ADS and its subsidiary, Infiltrator Water Technologies, provide superior stormwater drainage and onsite septic wastewater products used in a wide variety of markets and applications including commercial, residential, infrastructure and agriculture, while delivering unparalleled customer service. ADS manages the industry's largest company-owned fleet, an expansive sales team, and a vast manufacturing network of approximately 70 manufacturing plants and 40 distribution centers. The company is one of the largest plastic recycling companies in North America, ensuring over half a billion pounds of plastic is kept out of landfills every year. Founded in 1966, ADS' water management solutions are designed to last for decades. To learn more, visit the company's website at .
Contacts
ADS Foundation Contact:
Kevin Talley
President of ADS Foundation
Phone: (614) 658-0166
kevin.talley@adspipe.com
Advanced Drainage Systems Contact:
Margaret Finley
Director of Culture and Engagement and Corporate Affairs
Phone: (614) 570-6304
Margaret.Finley@adspipe.com
