EAST HARTFORD, CONN. – American Eagle Financial Credit Union (AEFCU) has announced the recipients of nearly $24,078 in donations from its participatory funding program, “Cash Back to the Community.”
Nonprofit organizations Healing Meals Community Project of Bloomfield, Dog Star Rescue of Bloomfield and Farmington Friends of Music of Farmington each received a donation of $8,026 for earning the most votes in AEFCU’s fourth quarter Cash Back to the Community program.
The latest round of nominations and voting featured the most participation since the program was first established one year ago—with 168 local organizations nominated and over 5,000 votes of support submitted.
Throughout 2020, AEFCU donated 1% of its credit and debit card interchange income to three nonprofit and/or 501(c)(3) organizations each quarter through the Cash Back to the Community program. Funding for the program is generated each time its members use an American Eagle Financial Credit Union credit or debit card. At the end of each quarter, 1% of the total interchange income – the fee paid for credit and debit card transactions – is being distributed to the three top qualified nonprofits as voted on by a combination of the CU’s members and the public.
In total, AEFCU donated $86,425 to 12 local nonprofit organizations in 2020.
“When we kicked off Cash Back to the Community at the start of 2020 no one knew how challenging the coming year would be for nonprofit organizations,” said Dean Marchessault, president and CEO of American Eagle Financial Credit Union. “Each of our recipients make a difference in our members’ communities every single day, and as Connecticut’s largest community-focused credit union we’re thrilled that we were able to support these deserving organizations and connect our members and the public to our philanthropic efforts. The response to this program has been overwhelming and participation continues to grow at an amazing rate—so I’m very happy to announce that American Eagle will be continuing with the Cash Back to the Community program in 2021.
In addition to its latest recipients, other 2020 Cash Back to the Community organizations have included:
- Early Childhood Collaborative in Southington
- Enfield Community Cat Project of Enfield
- Friends of Feeney of West Hartford
- Furry Animals Bring Saved Rescue in Tolland
- Literacy Volunteers of Greater Hartford in Hartford
- Roaring Brook Nature Center of Canton
- Senior Job Bank of Greater Hartford in West Hartford
- Transitional Learning Center Foundation of Manchester
- Quinnipiac University Dance Marathon in Hamden