Broadridge Financial Solutions introduced a series of community relief efforts it said Tuesday were intended to support people affected by the COVID-19 pandemic, including a commitment of $1.5 million to aid communities and individuals affected by the virus.
The fintech firm will donate an initial $1 million to support charities and schools across its 12 largest associate locations in the U.S. (including California, Colorado, Connecticut, Massachusetts, Missouri, New Jersey, New York and Pennsylvania), Canada, India, Ireland and the U.K., it said.
The funds will “focus on organizations targeting hunger relief for vulnerable populations, critical medical services and equipment, and school equipment needed for remote learning,” it said. They include Pronto, which provides food to vulnerable populations in Long Island, New York, and the Community Food Bank of New Jersey, which helps those at risk in multiple locations across the state, Broadridge said.
Broadridge will also invest up to $500,000 to “double-match associate donations to COVID-19 causes of their choosing,” it said.
Meanwhile, “in keeping with its commitment to volunteering to enable better financial lives, Broadridge is extending its volunteer program activities to support virtual learning via student mock trade shows, career coaching, mentoring, career advice and more,” the firm said.
“Aiding the communities where we work and live is a cornerstone of our culture, and I am so pleased with actions taken by Broadridge and our associates to support those impacted by the virus,” Broadridge CEO Tim Gokey said in a statement.
Wells Fargo Launches New Automation and Tech for PPP Loans
Wells Fargo is “doing everything we can to help our small business customers navigate this difficult and uncertain time,” the firm said Thursday.
“Over the past week we have mobilized hundreds of Wells Fargo employees and launched new automation and technology so we can process the extremely high volume of Paycheck Protection Program (PPP) applications,” it said in a statement, noting Wells Fargo was one of the “thousands of participating lenders” that PPP funds were allocated to by the Small Business Administration. Those funds ran out Thursday morning; Congress is working on a bill to add more funding to the program.
“We will continue to prepare applications in our existing pipeline from small and midsize businesses and will submit them to the SBA when funds become available,” Wells Fargo said, adding: “Given the magnitude of the crisis the country is facing, we are hopeful that Congress will approve additional funds for the PPP and we will continue accepting new applications so we will be ready to proceed if and when that happens. We stand ready to help the hundreds of thousands of customers waiting for this much needed assistance during these unprecedented times.”
Here are more details on how Wells Fargo is responding to the coronavirus crisis.
Citi’s COVID-19 Relief Efforts Reach More Than $65M
Citi and the Citi Foundation committed more than $65 million to date in support of COVID-19-related community relief efforts globally, including almost $36 million in charitable contributions from Citi and nearly $30 million in grants from the Citi Foundation, the company said Monday.
The efforts are helping to provide immediate relief to front-line workers and populations within communities most affected by the crisis, it said. They are also supporting longer-term investments in programs targeting economic recovery and financial stability, it noted, adding: “Relief is being provided in the form of medical equipment for frontline healthcare workers and meals for low-income families, as well as support and resources for small businesses and individuals, to help communities facing critical challenges.”