OSHKOSH, Wisconsin (Nov. 17, 2020) – Verve, a Credit Union, extended the reach of a grant it received through the Federal Home Loan Bank (FHLBank) of Chicago’s Targeted Impact Fund by matching funds. Verve donated $15,000 to match the FHLBank grant funds and received a bonus of $5,000, for a total of $35,000 in grant funds distributed to help small businesses develop, grow and rebuild from the economic impact of the COVID-19 pandemic. The 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.
“Verve continues to focus on the unique needs of all its member business owners,” said Kevin J. Ralofsky, president and CEO at Verve. “We are proud of our partners who have done their part to strengthen our communities and we’re taking this opportunity to maximize the impact for our members and the communities we serve.”
In addition to the $15,000 in matching funds of the FHLBank Chicago grant program for small businesses, Verve offers a variety of pandemic relief options for individuals, businesses and the community. To date, Verve has given $50,000 in donations and grants to help support the communities it serves. Through its Let’s All Do This program, Verve has allocated more than $4 million for COVID-19 support programs and services to help its members take care of personal and business financial needs.
The COVID-19 pandemic is challenging small businesses, and many have had to close their doors in recent months.
“Small businesses are the heartbeat of our communities,” Ralofsky said. “They drive our local economies, and this grant is one way that Verve is able to provide additional support.”
To learn more about Verve or the Let’s All Do This program, visit, verveacu.com/letsalldothis.