Royal Credit Union received a $16,000 Targeted Impact Fund Grant from the Federal Home Loan Bank of Chicago. Funds will be used to support relief efforts for populations hardest-hit by the COVID-19 pandemic and to promote racial equity. Royal will also contribute funds to maximize the positive impact.
Royal has selected three nonprofits to receive the grant funds. These organizations are providing financial education, housing assistance, business assistance, and shelter at a critical time. The nonprofits also focus on serving important populations, including minority youth, women in business, and those who are homeless.
SecureFutures seeks to empower teens through financial education. Many teens served have experienced money as a part of the barriers they face every day. They’ve seen the effects of the cycle of poverty, of predatory lending practices, and of discriminatory pay inequity. Youth are matched with a mentor and develop an action plan to achieve financial goals. Brenda Campbell, President and CEO, expressed, "We are very excited about this partnership. There is so much synergy between our organizations and I love Royal’s passion for financial empowerment." Royal’s Community Engagement team will soon collaborate with SecureFutures on a virtual Test Drive…Next Stop Reality program, which provides a real-life simulation of money and finances.
Western Dairyland Economic Opportunity Council provides housing assistance and operates homeless shelters. They also run the Women's Business Center, where special efforts are made to assist economically and socially disadvantaged women. “In these unprecedented times, it is reassuring to know we have partners like Royal Credit Union who are committed to caring for those most vulnerable members of our community and most greatly impacted by the pandemic. As Western Dairyland continues to fight poverty and alleviate poverty related conditions in our community, we look forward to continued work with Royal in keeping our economy moving forward,” commented Karman Briggs, Director of Jobs & Business Development.
The Sojourner House is the largest homeless shelter serving the Eau Claire area. Due to COVID, they temporarily relocated to a local indoor ice rink and collaborated with other service providers to offer 24/7 services in a safe environment with sufficient space. Kyle Petras, Director, shared, “Sojourner House is truly grateful to be receiving support while working together with community partners. We are placing immense effort into serving our guests during a traumatic experience, and Royal Credit Union provides us with resources to do so.”