Marine Credit Union Foundation Supports Organizations with Targeted Impact Funds Across Service Area
Grant provided by Federal Home Loan Bank of Chicago, Matched by Marine Credit Union
LA CROSSE, Wis., Nov. 12, 2020 /PRNewswire/ -- Granted by the Federal Home Loan Bank of Chicago (FHLBank Chicago) and matched by Marine Credit Union, the Marine Credit Union Foundation is giving $35,000 to organizations in the communities where Marine serves its members.
The FHLBank Chicago's Targeted Impact Fund provides members with grants to support relief efforts for populations hardest-hit by COVID-19 as well as to promote equity and opportunity for communities of color. The Targeted Impact Fund opened on Monday, August 17, with funding available through Tuesday, November 10. For more information visit fhlbc.com.
Recipients of these Targeted Impact Funds will be nominated by Marine employees and will include organizations such as:
1. Minority and Women Business Enterprise (MBE and WBE) Development and/or Rebuilding – support for MBE and WBE small businesses to develop, grow and/or rebuild. A business is classified as an MBE or WBE if over 50% of its ownership is of minority ethnicity or female, respectively.
2. Advancement of Black and Latino Communities – support for organizations that promote a more fair and inclusive society for Black and Latino communities. Organizations may provide services supporting career development/job training, education, recreation, childcare, healthcare/wellness, etc. for Black and Latino beneficiaries, or otherwise serve a mission of promoting equity and racial justice.
3. Community Empowerment for Populations Hardest Hit by COVID-19 – support for social services that benefit populations hardest hit by COVID-19, including but not limited to Black, Latino, Native American and rural communities, as well as the elderly.
4. Affordable Housing Sustainability – support for entities providing and/or promoting affordable housing for vulnerable populations. Such entities include programs that provide rental assistance to low- to moderate-income households, housing counseling agencies, homeless services organizations, fair housing agencies and affordable housing projects in need of operating support.
"We recognized a need in the community, as well as an opportunity to empower our team to provide additional help," said Quinn Devlin, Associate Executive Director for the MCU Foundation. "The Targeted Impact Funds guidelines will help direct support to the organizations who need it most."
"Our hearts go out to our communities always, but especially this year," said Shawn Hanson, CEO at Marine. "Our team is passionate about supporting our communities through this difficult time."
SOURCE Marine Credit Union
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