Page 17 - BusinessWest February 7, 2022

Banking & Finance
More Than Writing Checks
Banks, Credit Unions Find Many Ways to Give Back, Especially During Pandemic
Banks and credit unions have long touted their role in supporting local nonprofits through philanthropic efforts, but those efforts took on more urgency over the past two years, especially in areas such as food insecurity and other basic human needs. But even before the pandemic, these institutions were giving back in ways that went well beyond writing checks, from participating in fundraising events in the community to promoting a culture of volunteerism among officers and employees. In other words, the needs remain numerous, but so do the ways to address them.
WBy Joseph Bednar
hen it comes to philanthropy, Kevin Day, says, Florence Bank’s overall goal never changes.
“We just try to be resilient and strengthen our com- munities and nonprofit sector,” said Day, the bank’s presi- dent and CEO. “We don’t necessarily go out year after
year and do the same things; we tend to respond to the needs that arise, and needs in the community ebb and flow each year. Certainly, the last two years with COVID, we’ve responded to what the needs are and basically evaluated requests as they come in and tried to find the ones that have the broadest impact.”
The most obvious such need — one that many banks made a point of focus over the last two years — is food insecurity. Since the start of the pandemic, Florence Bank has donated at least $140,000 to organizations addressing that issue.
“We supported many local pantries and survival centers because the pandemic ramped up that need,” Day said. Meanwhile, “other organizations couldn’t run their normal events or even run the services they normally do. The way we managed our donations was responding to needs as they grew,
Kevin Day says banks
— including Florence — responded strongly to rising food-insecurity needs during the pandemic.
BusinessWest BANKING & FINANCE FEBRUARY 7, 2022 17