Tower Federal Credit Union in Laurel, Md., and the TowerCares Foundation said they are launching a $250,000 community giving initiative to support military servicemembers, veterans and children in need as part of the nation's upcoming 250th anniversary celebration.
"As we celebrate America's 250th anniversary, we're proud to invest in local organizations that make a difference in the lives of military heroes, Veterans and children in need," Rick Stafford, president/CEO of Tower, said. "Through $250,000 for a Brighter America, and by inviting our members to help direct a portion of those funds, we can work together to make a more meaningful impact and help build a brighter future for our community."
As part of the initiative, Tower members can vote through June 30 to help direct $50,000 in donations among five TowerCares Foundation charity partners: Blue Star Families, Fisher House Foundation, Junior Achievement of Central Maryland, Leveling the Playing Field and the Travis Manion Foundation. Each organization will receive at least $5,000, with the remaining $25,000 distributed based on member voting results.
Founded in 1953, Tower serves more than 215,000 members worldwide and has more than $5 billion in assets.
CoVantage Cares Foundation
The CoVantage Cares Foundation said it has surpassed $5 million in community giving since its establishment in 2015, supporting almost 600 grants for nonprofit organizations across Wisconsin, Michigan and Illinois.
"Reaching $5 million in giving is an incredible milestone and one we share with every nonprofit partner, donor and supporter who has made this possible," Charlie Zanayed, president of the CoVantage Cares Foundation, said. "Each grant approved and every organization supported represents compassion in action and a commitment to improving quality of life in the communities we proudly serve.
"We sure are thankful for the generosity of our employees, member-owners and community members. CoVantage has a long history of generosity, and the Foundation was established to increase our impact to worthy nonprofits. And increase our impact we have, thank you for improving the lives of our neighbors."
In addition to its year-round grantmaking efforts, the foundation has led Giving Tuesday campaigns benefiting 98 nonprofit partners. Funding has focused on food, shelter and safety needs, financial education and literacy, and community enhancement projects.
The CoVantage Cares Foundation was established in 2015 by leaders of CoVantage. Headquartered in Antigo, Wis., CoVantage has more than $4 billion in assets and serves more than 180,000 members.
Clearwater Credit Union
Clearwater Credit Union, in partnership with the Federal Home Loan Bank of Des Moines, announced more than $222,900 in grant funding to support affordable housing and community development initiatives throughout Montana.
"At Clearwater, we believe strong communities are built when people have access to safe housing, opportunity and support systems that help them thrive," Maria Valandra, vice president of community partnerships, said. "These organizations are doing meaningful work across Montana every single day, and we're proud to partner with FHLB Des Moines to help expand their impact."
Clearwater contributed $65,000 through the FHLB Des Moines Member Impact Fund, which was matched by FHLB Des Moines, bringing the total investment to more than $222,900. The funding will support 14 organizations, including Boys & Girls Club of Missoula County, Great Falls Development Alliance, Habitat for Humanity of Missoula, NeighborWorks Montana and Trust Montana.
Established in 1956, the Missoula, Mont.-based Clearwater has $1.2 billion in assets and serves more than 68,000 members across Montana.
Joyce Moed can be reached at joyce.moed@arc-network.com.
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