The Colorado credit union has pledged to match at least $50,000 in donations to a local foundation assisting with the community's recovery following a mass shooting at a grocery store that left 10 people dead.
The Madison, Wis.-based credit union will donate $1.5 million to a pair of United Way chapters in the region which will help distribute the funds to organizations serving communities of color.
The Iowa-based institution hopes the funds can help narrow the racial homeownership gap in the state, which is believed to be among the worst in the nation.
The credit union announced a $1 million commitment to the New Jersey Education Association spread over 10 years, with the first installment helping expand the group’s Human and Civil Rights Division.
The charity was hit hard by the pandemic and the death of its CEO early in the year, but the nonprofit hopes to bounce back in 2021, thanks in part to a long history of working closely with credit unions.
Social distancing has put a crimp in the credit union industry's usual philanthropic activities, but many institutions are finding new ways to give back during this festive season.
The Credit Union Cherry Blossom Run, the industry's biggest annual philanthropic event, saw a nearly 10% increase in giving this year despite being canceled.
Thanks to a donation from the Credit Union Federation of Korea, the global trade group is working with international partners to distribute personal protective equipment to institutions in need.
From helping hospitals purchase new testing kits and ventilators to backing efforts to develop a COVID-19 vaccine, banks large and small are pledging millions of dollars to assist with medical relief efforts.
