Banks, Energy Companies, Others Step Up Support for COVID-19 Response

Banks, Energy Companies, Others Step Up Support for COVID-19 Response

Boston-based Eastern Bank has announced commitments totaling more than $10 million to help address the impact of COVID-19 in the communities it serves. The Eastern Bank Charitable Foundation will award grants totaling $3 million to local nonprofits, while the bank itself has created a $2 million Consumer Impact Loan Fund and a $5 million Small Business Impact Loan Fund for customers facing financial hardship as a result of the public health emergency. 

Fifth Third Bank in Cincinnati has pledged a total of $8.75 million through the Fifth Third Foundation and the Fifth Third Chicagoland Foundation to help address the impacts of the coronavirus. The funding includes $3.25 million for COVID-19 response needs in communities served by the bank and $5.5 million in grants through its Strengthening our Communities Fund in support of small businesses, affordable housing, homeownership, and local economic development initiatives. 

Lineage Logistics in Novi, Indiana, has launched a $5 million initiative to help provide a hundred million meals to people in need as a result of the coronavirus emergency. As part of its Share a Meal campaign, the company donated $1 million to Feeding America's COVID-19 Response Fund and will match up to $500,000 in contributions to a fundraiser run by Stephen and Ayesha Curry's Eat. Learn. Play. Foundation.

Comerica Bank and the Comerica Charitable Foundation in Dallas have announced commitments totaling $4 million in support of community programming and businesses impacted by COVID-19. The funding will support community development financial institutions working to meet the needs of small and micro businesses, as well as nonprofits serving youth, seniors, and other vulnerable populations, with a focus on food insecurity and access to health care. The bank and its foundation also are expediting $500,000 in planned funding to several local United Ways.

Atlanta-based Southern Company Gas and its subsidiaries have committed a total of $4.85 million in support of communities affected by the coronavirus outbreak. The Southern Company Gas Charitable Foundation will award $2.5 million in support of several human services organizations, including Meals on Wheels, the American Red Cross, the Salvation Army, and United Way, in seven states, while the Alabama Power Foundation and Georgia Power Foundation have each pledged $1 million and the Mississippi Power Foundation has pledged $350,000 to the effort. 

In San Diego, Sempra Energy Foundation has established a $1.75 million Nonprofit Hardship Fund to provide expedited grants ranging from $500 to $50,000 to small and midsize nonprofits serving the health, education, welfare, or social service needs of individuals and families in California, Texas, and Louisiana impacted by the coronavirus.

The Baton Rouge-based Blue Cross and Blue Shield of Louisiana Foundation has announced a commitment of at least $2.1 million, including $2 million through Community Crisis and Disaster Response Grant funds, to address immediate and longer-term needs in the region related to COVID-19.

In San Francisco, Salesforce and Wells Fargo have contributed $1.5 million and $150,000, respectively, to the mayor's Give2SF COVID-19 Response and Recovery Fund.

Twitter has awarded grants totaling $1 million to the Committee to Protect Journalists and the International Women's Media Foundation to ensure that the organizations can continue their work in the face of economic pressure related to the coronavirus pandemic and to directly support journalists. Grants of $500,000 each will support the organizations' ongoing efforts to advocate for the rights of vulnerable reporters and ensure an equal voice for women in the industry. 

And the NFL's New York Jets and the family of Jets CEO Christopher Johnson have announced a $1 million donation to United Way of New York City's COVID-19 Community Fund, the United Way of Northern New Jersey'sALICE Recovery Fund, and the United Way of Long Island's United Together: A Response Fund for COVID-19.

(Photo credit: U.S. Centers for Disease Control and Prevention)

"Eastern Bank Commits Over $10 Million To Aid Individuals And Families, Small Businesses, And Nonprofit Organizations Impacted By The Coronavirus (COVID-19) Crisis." Eastern Bank Press Release 03/24/2020. "Fifth Third Commits $8.75 Million to Address Effects of COVID-19." Fifth Third Bank Press Release 03/20/2020. "Lineage Commits $5 Million and Launches “Share A Meal” Campaign to Help Provide 100 Million Meals in Response to COVID-19." Lineage Logistics Press Release 03/23/2020. "Supporting Communities During the Coronavirus Crisis." Southern Company Gas Press Release 03/24/2020. "Southern Company Subsidiaries Donate $4.85 Million to Coronavirus Relief." Southern Company Gas Press Release 03/24/2020. "COVID-19 Nonprofit Hardship Fund." Sempra Energy Foundation Webpage 03/24/2020. "Comerica Bank and Comerica Charitable Foundation Invest $4 Million in COVID-19 Relief Efforts for Small Business and Community Programming; Comerica Provides Support to Customers Facing Hardship." Comerica Bank Press Release 03/24/2020. "Blue Cross and Blue Shield of Louisiana Foundation Commits $2.1 Million to COVID-19 Response." Blue Cross and Blue Shield of Louisiana Foundation Press Release 03/24/2020. "Mayor London Breed Announces Major Contributions to Give2SF Fund, Priority Areas for Supporting San Franciscans." Office of the Mayor of San Francisco Press Release 03/23/2020. Vijaya Gadde. "Protecting and Supporting Journalists During COVID-19." Twitter Blog Post 03/24/2020. "Jets & Johnson Family Donate $1 Million to United Way." New York Jets Press Release 03/23/2020.