Community Reinvestment

American Eagle FCU Recipients Of Cash Back To The Community Program

Three Local Nonprofits Benefit From Nearly $20,000 In Donations

Keith Griffin

July 15, 2020

Quinnipiac Dance Marathon

American Eagle Financial Credit Union announced the recipients of nearly $20,000 in donations from its participatory funding program, Cash Back to the Community. Nonprofit organizations Seniors Job Bank of Greater Hartford in West Hartford, Literacy Volunteers of Greater Hartford in Hartford and Quinnipiac University Dance Marathon in Hamden each received a donation of $6,575 for earning the most votes in AEFCU’s second quarter Cash Back to the Community program.  

More than 240 organizations were nominated and 4,447 total votes cast from AEFCU members and the general public for this quarterly giving philanthropic effort. Throughout 2020, AEFCU is donating 1% of its credit and debit card interchange income to three nonprofit and/or 501(c)(3) organizations each quarter through the Cash Back to the Community program.

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–is being distributed to the three top qualified nonprofits as voted on by a combination of the Credit Union’s members and the public.

Through the first two quarters of 2020, AEFCU’s Cash Back to the Community program has provided $40,266 to nonprofits statewide.

“Cash Back to the Community has become a very popular and effective way to invite our members and public to play an active role in our philanthropic efforts.  The program’s second quarter total votes of 4,447 was 215 percent higher than the previous quarter.  We encourage the public to continue playing an integral role in selecting worthy nonprofits to receive our funding,” said Dean Marchessault, president and CEO of American Eagle Financial Credit Union.  “As Connecticut’s largest community-focused credit union, we are always concentrated on making the places where we live and work better, and responding quickly during critical times.”

Seniors Job Bank is a nonprofit organization created in 1974, dedicated to helping people over the age of 50 find part-time work in the West Hartford community and surrounding towns. Literacy Volunteers of Greater Hartford, a private non-profit organization, has provided adult literacy services to the Greater Hartford community since 1972.

Quinnipiac University Dance Marathon benefits the Children’s Miracle Network and Connecticut Children’s Medical Center. Students involved in a campus' dance marathon organization spend a year gaining leadership, teamwork, and nonprofit business experience while raising funds and awareness for their local Children's Miracle Network Hospital. The year culminates with an 8-40-hour dance marathon on each campus where students get to meet patient families treated at their local hospital, participate in games and dancing, and reveal their annual fundraising total.

Nominations and voting for third quarter recipients for Cash Back to the Community will take place July 27 - August 16.  American Eagle members and public voting for the second quarter recipients of Cash Back to the Community goes from September 7 - 20, via American Eagle’s website or social media sites, including Facebook, Twitter, Instagram and LinkedIn.

Established in 1935, American Eagle Financial Credit Union has more than 150,000 members, over $1.9 billion in assets, and offers banking services to anyone who lives, works, attends school, or worships in Hartford, Middlesex, Tolland, and New Haven counties in Connecticut, and Hampden County in Massachusetts.  For more information about American Eagle Financial Credit Union, visit www.americaneagle.org.

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