Charter Oaks Federal Credit Union Donates $400k To Charities

Press release from Charter Oak Federal Credit Union:

December 7, 2020

Waterford, CT – December 4, 2020 – Charter Oak Federal Credit Union’s 2020 Matching Gifts Program donated a combined $400,000 from the credit union and its members to over 280 charitable organizations this holiday season, from local food pantries to shelters for the homeless.

Since Charter Oak created its Matching Gifts Program in 2016, the combined giving of the credit union and its generous members has totaled almost $1.6 million to charities and nonprofit organizations throughout eastern Connecticut.

Based on the large volume of member donations this year, Charter Oak’s initial Matching Gifts pledge of “$100,000 in 100 Days” was doubled by the credit union’s Board of Directors to $200,000, which is the third consecutive year that the board doubled Charter Oak’s Matching Gifts donations. “Once again, Charter Oak’s members showed their tremendous generosity by donating to hundreds of charities in just a few short months,” said Brian A. Orenstein, Charter Oak’s President and Chief Executive Officer. “We received nearly a thousand donations from our members that will directly benefit charities in urgent need of funds during this COVID-19 health crisis,” he said.

Charter Oak’s Matching Gifts Program, which runs from August to November each year, matches all qualified donations made by its members to 501(c)(3) charities. During 2020, Charter Oak’s Matching Gifts Program matched a total of 970 donations from its members that will provide much-needed assistance to 283 charities and non-profit organizations.

Among those charitable groups in New London and Windham counties to benefit from the combined giving from Charter Oak’s Matching Gifts Program were the Terri Brodeur Breast Cancer Foundation in New London, the Pawcatuck Neighborhood Center, St. Vincent de Paul Place in Norwich, the Friends of Assisi Food Pantry in Danielson, and the Windham Region No Freeze Project in Willimantic. Charter Oak is eastern Connecticut’s largest credit union with assets of $1.36 billion as of September 30th, 2020.

For more information about Charter Oak’s broad range of products and services, please visit any of our convenient branches, call our Contact Center at 860.446.8085 or visit CharterOak.org. Federally insured by NCUA. Equal Housing Lender.

Charter Oak Federal Credit Union is like a bank, just better! We've been proudly serving eastern Connecticut since 1939 and we offer great checking, deposit, lending, insurance and investment products. And because we're a credit union, we're owned by our members, not by shareholders. So we can offer lower rates on loans and higher rates on deposits. It's easy to become a Charter Oak member: simply live, work, worship, learn, or volunteer in New London or Windham counties. So join today and see why Members Bank Better at Charter Oak!

This press release was produced by Charter Oak Federal Credit Union. The views expressed here are the author's own.