EAST HARTFORD, Conn.– American Eagle Financial Credit Union has announced the recipients of nearly $21,000 in donations from its new participatory funding program, “Cash Back to the Community.”
Nonprofit organizations Early Childhood Collaborative in Southington, Furry Animals Being Saved Rescue in Tolland, and Friends of Feeney in West Hartford each received a donation of $6,847 for earning the most votes in AEFCU’s first quarter Cash Back to the Community program. Nearly 160 organizations were nominated and 1,410 total votes cast from AEFCU members and the general public for this quarterly giving philanthropic effort.
Throughout 2020, AEFCU is donating 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 is being distributed to the three top qualified nonprofits as voted on by a combination of the CU’s members and the public.
“We created Cash Back to the Community to invite our members and public to play an active role in our philanthropic efforts. Little did we know then how vital these funds would be to nonprofits during the current COVID-19 pandemic,” said Dean Marchessault, president and chief executive officer of American Eagle Financial Credit Union. “As Connecticut’s largest community-focused credit union, we are always concentrated on making the places where we live and work better, and responding quickly during critical times,” added Marchessault.
Nominations and voting for second quarter recipients for Cash Back to the Community will take place April 27- May 17.