Charles Schwab launched a virtual volunteering and giving program called CommUNITY 2020 that it said offers new ways for employees to serve their communities during the COVID-19 pandemic.
The program “eliminates obstacles to serving others during a time of social distancing and shelter-in-place protocols, and is supported by four pillars of service that can be performed from anywhere at any time,” it said.
Those four pillars include:
ACT: Schwab “curated hundreds of virtual volunteer opportunities for employee participation – all aimed at lifting those most in need in the communities where Schwab employees live and work,” it said.
GIVE: Schwab is matching employees’ personal contributions 2:1 for donations made to eligible nonprofit organizations, with matches totaling up to $2,000 per employee annually.
LEARN: Employees are invited to participate in the company’s new educational series on giving that features panel discussions with nonprofit leaders and practical tips on how to engage in local communities.
SHARE: To advocate for the causes most important to them and to inspire others to follow their lead, employees are being encouraged to post their stories on social media with #Schwab4Good and the company is highlighting them internally in newsletters and on their intranet, it said.
Wells Fargo Grants $1.5M
Wells Fargo announced a $1.5 million contribution by the Wells Fargo Foundation in support of the Funders for Housing and Opportunity.
FHO focuses on advancing housing affordability solutions and relief for renter households and homeless people disproportionately affected by the economic downturn as a result of COVID-19, Wells Fargo noted.
Wells Fargo also pledged up to $20 million to support the New York Forward Loan Fund (NYFLF), an economic revitalization program across New York initiated by New York Governor Andrew Cuomo that was designed to help small businesses, nonprofits and small landlords as they reopen following the COVID-19 pandemic.
The fund purchased its first loans in July after pre-applications opened on May 26. A total of $100 million is expected to be available through NYFLF, which Wells Fargo is supporting along with other financial institutions and partners.