Press
Meriwest and FHLB of San Francisco Partner for $25K Grant
Supports Catholic Charities of Santa Clara County
SAN JOSE, CA (January 22, 2015) — Catholic Charities of Santa Clara County will benefit from a recent $25,000 grant sponsored by Meriwest Credit Union through the Federal Home Loan Bank’s AHEAD Grant program; AHEAD stands for “Access to Housing and Economic Assistance for Development.” Meriwest Credit Union sponsored the $25,000 grant to support Catholic Charities of Santa Clara County’s “SaveNow Program”. The SaveNow pilot program will help move low-income individuals towards increased economic security by endorsing savings, financial education & credit building to at-risk youth in their Refugee Foster Care Program and others. The SaveNow program delivers learning and actual checking and savings account experience through an app that can facilitate the required financial relationships and promote savings.
The FHLB sets aside money each year from its profits to fund the AHEAD Grants. These grants are made to Bank and Credit Union members who sponsor local community groups’ grant requests. The Grants provide early-stage funding for targeted economic development projects and certain eligible housing initiatives that create benefits for low- and moderate-income communities.
“As part of our ongoing Community Service initiative, it’s important that we assist those less fortunate by providing financial education programs and partnerships that will allow those in the community to seek and obtain some type of economic security,” said Tony Cortez, SVP, Chief Experience Officer of Meriwest Credit Union. “Programs like SaveNow are just some of the tools that individuals can utilize. It’s been our pleasure to be associated with Catholic Charities as they continue their work.”
“For the last decade, Meriwest Credit Union has worked side by side with Catholic Charities as we work with low income families to inform them of the necessity and benefits of becoming banked,” said Steve Hicken, Senior Division Director, Economic Development Services. “Again and again, Meriwest has invested time, energy and resources above and beyond what anyone would expect. We know we can count on Meriwest to help our clients progress in their financial literacy and competence.”
About Meriwest Credit Union
Meriwest Credit Union, one of Silicon Valley’s largest and established financial institutions, has been providing proactive, personal, convenient and innovative financial services to over 68,500 businesses and families throughout the San Francisco Bay Area and Tucson, Arizona, since 1961. More information can be found at www.meriwest.com.
About Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgages to people of all income levels and provide credit that supports neighborhoods and communities. The Bank also funds community programs that help members create affordable housing and promote community economic development.
About Catholic Charities of Santa Clara County
Catholic Charities of Santa Clara County has been serving individuals and families for more than 50 years. More information can be found at www.catholiccharitiesscc.org.
Photo Caption: Here, Meriwest’s President and CEO, Julie Kirsch (left) and CXO Tony Cortez (right) present the check to Catholic Charities of Santa Clara County’s Steve Hicken, Senior Division Director, Economic Development Services, Asmir Pinjic, Program Supervisor of Asset Building Services and Jackie Copeland-Carson, Chief Program and Operating Officer.