No strangers to giving back, it's not surprising to see the credit union movement embracing Giving Tuesday. Here are just a few examples of how CUs are taking part and making a difference.
Keesler feeds 700
Keesler Federal Credit Union announced on Giving Tuesday that the credit union donated $3,000 to fund a Thanksgiving dinner for 700 people at the Gulf Coast Rescue Mission in Biloxi, Miss. Several Keesler FCU employees also volunteered at the event.
Veridian donates to three nonprofits
Veridian Credit Union donated a total of $8,500 to three Des Moines-area nonprofits as part of its “Spark the Spirit” giving campaign. More than 20,000 votes were cast, and funds were awarded to the top vote-getters as part of a Giving Tuesday celebration. The Youth Emergency Services & Shelter (pictured above) was a winner, along with the Animal Rescue League of Iowa and Meals from the Heartland.
Vote for Miracles campaign kicks off
The CUs4Kids “Vote for Miracles” campaign kicked off on Giving Tuesday and will run through Dec. 19. The top five Children’s Miracle Network Hospitals that receive the most votes will share $100,000 on behalf of America’s credit unions, courtesy of CO-OP Financial Services and CU Direct.
Federation and NYCUA team up for Puerto Rico relief
The National Federation of Community Development Credit Unions and the New York Credit Union Association have set up a fund specifically designated to support relief efforts for CUs and cooperativas in Puerto Rico. The Federation will match all donations up to $10,000 made to the #GivingTuesday fund through Thursday. Every penny of every dollar raised will go to credit unions and cooperativas in Puerto Rico as they recover from Hurricane Maria.
The photo above shows JetStream FCU's Puerto Rico branch, which was damaged by Hurricane Maria.
United Way of the Northwoods will benefit from a two-week fundraising campaign at the Rhinelander and Crandon offices of CoVantage Credit Union. The charity's goal for 2018 is $165,000.
Photo by Eileen Persike
CoVantage gives to United Way
CoVantage Credit Union, Antigo, Wis., and its CoVantage Cares Foundation are collecting donations for United Way of the Northwoods as part of a two-week fundraising campaign that launched on Giving Tuesday. All donations at the credit union’s Rhinelander and Crandon branches will be matched by the foundation, which expects to provide grants totaling $75,000.
The company's Silicon Valley Bank unit reduced its loan-loss cushion by $52 million. Private-equity and VC clients have warmed to the practice of doing deals virtually, which increases lending opportunities, SVB executives said.
What's behind the unlikely First Citizens-CIT deal; ex-Trump adviser Gary Cohn predicts bleak future for community banks; midsize banks gird for loan defaults, more margin pressure; and more from this week's most-read stories.