American Eagle Financial Credit Union (AEFCU) is continuing its mission of supporting nonprofit organizations and the communities it serves by inviting both its members and the general public to take part in choosing the next round of winners for the Credit Union’s participatory funding program, Cash Back to the Community.
Entering its second year, AEFCU’s Cash Back to the Community program yielded $86,425 in total donations in 2020, providing welcomed assistance to financially strained nonprofits during the historic COVID-19 pandemic. Thanks to its growing popularity and success in assisting organizations in need, the Credit Union announced in early January of this year that the quarterly program would continue through 2021 and once again asked the public to nominate Connecticut nonprofit and/or 501(c)(3) organizations that fit within the program’s qualifying guidelines for the next round of voting.
“When we kicked off Cash Back to the Community at the start of 2020 no one knew how challenging the coming year would be for nonprofit organizations,” said Dean Marchessault, president and CEO of AEFCU. “Each of our recipients make a difference in our members’ communities every single day, and as Connecticut’s largest community-focused credit union we’re thrilled that we were able to support these deserving organizations and connect our members and the public to our philanthropic efforts. The response to this program has been overwhelming and we hope that the amazing amount of participation we’ve experienced thus far continues in this latest round of voting.”
Like 2020, American Eagle’s Cash Back to the Community program will donate a portion of its credit and debit card interchange income to three organizations at the end of each quarter’s voting period this year. Funding for the program is generated each time its members use an American Eagle Financial Credit Union credit or debit card. At the end of each quarter, one percent of the total interchange income–the fee paid for credit and debit card transactions–will be distributed to the three top qualified nonprofits as voted on by a combination of the Credit Union’s members and the public.
The voting form and the list of nominated organizations for the latest installment of Cash Back to the Community can be found at americaneagle.org/cashbacktothecommunity. Winners will be announced shortly.
Established in 1935, American Eagle Financial Credit Union (AEFCU) is a full-service credit union offering checking and savings accounts, credit cards, auto loans, mortgages, business accounts and more. American Eagle offers banking online, through its mobile app, or at one of its 15 branches located in Connecticut. AEFCU has more than 158,000 members, over $2 billion in assets, and offers banking services to anyone who lives, works, attends school, or worships in Hartford, Middlesex, Tolland, and New Haven County in Connecticut, and Hampden County in Massachusetts. For more information about American Eagle Financial Credit Union, visit www.americaneagle.org.
