Some credit union charitable donations up amid pandemic
The industry’s largest annual philanthropic event — Credit Union Miracle Day, which includes the Credit Union Cherry Blossom Run in Washington — was cancelled this year due to the coronavirus.
But donations to Children’s Miracle Network Hospitals in conjunction with the event were up by nearly 10% despite the cancellation.
Donations to CMN hospitals made in conjunction with Miracle Day this year totaled more than $439,000, including $94,000 raised by those who registered to run in the event and their family and friends. The remainder came from industry partners, including state and national trade groups and vendors.
Last year’s donations totaled $400,000. The industry has contributed nearly $10 million to CMN since 2002.
“While we were all disappointed that the race couldn’t happen this year, together we are still making a significant impact in our communities and in the lives of children treated at Children’s Miracle Network Hospitals,” John Bratsakis, chair of Credit Union Miracle Day, said in a press release Monday. “The funds raised directly benefit CMN hospitals in local communities, helping to fund research, treatment, medical equipment and the challenges brought on by COVID-19. The unique, collaborative spirit of the credit union movement makes a real difference in communities, particularly during this time of uncertainty and disruption.”
While Miracle Day saw an uptick in giving, it’s unclear how broader credit union philanthropy has been impacted by the pandemic. Credit unions of all sizes make a variety of charitable contributions throughout the year — including funding nonprofits and scholarships — but those donations are not logged on call reports, making it difficult to get a full picture of philanthropic trends.
The 2021 Cherry Blossom Run is currently scheduled for April 21 and will mark the credit union movement’s 20th year as title sponsor for the event.