Social Assurance Announces Community Spark Award Winners

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Sep 14, 2020, 08:38 ET

LINCOLN, Neb., Sept. 14, 2020 /PRNewswire/ -- Social Assurance named Michigan State University Federal Credit Union (MSUFCU) of East Lansing, Mich. and Drake Bank of St. Paul, Minn. as the winners of the 2020 Community Spark Award. The award recognizes banks and credit unions making an outstanding difference in their local communities through unique support, volunteerism, philanthropy, and development initiatives.

2020 Social Assurance Community Spark Award

"The Community Spark Award celebrates financial institutions have gone above and beyond to support individuals and small businesses in their communities," shares Social Assurance CEO Ben Pankonin, "We are proud to recognize the local impact these two organizations have made and continue to make in supporting their communities."

MSUFCU launched its #MSUFCUEatsLocal giveaway in March to support local restaurants during the COVID-19 pandemic. In the spring of 2020, MSUFCU hosted a social media giveaway requesting participants enter by submitting photos of meals from their favorite local restaurants on Facebook or Twitter. A daily winner was awarded two $25 gift cards to local restaurants, one for themselves and one to pay it forward. More than $4,000 in gift cards were awarded.

Drake Bank created the Drake COVID-19 Relief Fund to help individuals experiencing financial hardships resulting from the current pandemic. The directors, staff and community members of Drake Bank raised over $80,000 in donations for distribution to members of their community. Grant applications were submitted, reviewed, and funded weekly by Drake Bank from April to June of 2020, providing 155 local individuals with $500 each in relief grants.

In addition to recognition, Social Assurance provided each winner with a donation to a local charity of choice. MSUFCU elected to have their donation made to Weekend Survival Kit which provides food on the weekends to children who may otherwise go hungry. Drake Bank selected the Quorom Foundation which supports future LGBTQ+ students through scholarship funds.

Named after Social Assurance's newly released Community Spark platform, the award brings recognition to what the platform helps financial brands track, community impact. The platform provides organizations with the tools and processes to track, manage and encourage community investment and engagement.

For more information on the Community Spark award winners and platform, visit socialassurance.com/community-spark-award.

Founded in 2011 by Ben Pankonin and Matt Secoske, Social Assurance provides marketing, sales, and community development software and solutions to help banks and credit unions do what they do best, support their community. Their software and solutions help financial marketers, compliance and supporting team members to create processes and workflows to manage marketing content and community involvement.