Truist Financial Corporation (NYSE: TFC) today announced its Truist Cares initiative to support the short-term and long-term needs of communities, clients and teammates in response to the COVID-19 pandemic. A pledge of $25 million in philanthropic support will aid in supporting basic needs, medical supplies, and financial hardship across the nation.
Immediate Help for Critical Healthcare Organizations
The financial services company will immediately donate $1 million each to the CDC Foundation and Johns Hopkins Medicine through the Truist Charitable Fund. This funding will aid in response and recovery efforts and assist in the purchase and delivery of much-needed medical supplies to combat the COVID-19 pandemic.
Helping Those Who Help Others
The Truist Foundation will donate $3 million to local United Way organizations to fund community-based programs and support services that provide basic needs to people during this difficult time.
The remaining charitable funds will be given as grants to Truist’s community partners to support and expand technology initiatives and programs for youth, seniors, small businesses and people to rebuild, restore and create thriving communities. The programs will target support in five key areas:
- Truist Cares to Connect: This may include partnering with organizations that help provide broadband services to communities in need or providing technology devices for students to learn at home.
- Truist Cares for Youth: This may include partnering with food banks to ensure low-income students have access to food or scholarships to the children of individuals with income disruption.
- Truist Cares for Seniors: This may include partnering with organizations that provide food services and medical supplies to the elderly.
- Truist Cares for Small Businesses: This may include partnering with organizations that provide financial support and/or technical assistance to small businesses that are disrupted.
- Truist Cares for the Workforce: This may include partnering with sponsorship partners to support hourly workers affected by postponed or cancelled sports and entertainment events.
“Our philanthropic commitments, along with the relief measures we’re providing for clients and teammates in response to the COVID-19 pandemic, will help our communities emerge stronger than ever,” said Chairman and CEO Kelly S. King.
The announcement also includes relief efforts for clients and teammates.