Verity Credit Union to collaborate with Microsoft through their Partner Capital Fund to support small businesses
SEATTLE, WA (August 19, 2022) — As part of their commitment to address racial injustice, Verity Credit Union announces today their collaboration with Microsoft’s Partner Network to provide working capital support to small businesses and facilitate growth within underserved communities. Microsoft’s Partner Capital Fund was created to provide $50 million in working capital for businesses within the Microsoft Partner Network. Verity Credit Union will be joining the ranks of a select group of banking partners nationwide to support this fund and will serve as Microsoft’s partner in Washington state for the next year.
“We are thrilled to serve as Microsoft’s banking partner to help small businesses in Washington thrive. The mission behind Microsoft’s Partner Capital Fund ties directly back to Verity Credit Union’s commitment to put people, planet, and prosperity for all above the bottom line to make meaningful, positive, and lasting change in our world,” said Verity Credit Union’s CEO Tonita Webb.
Through installment loans ranging from $25,000 – $500,000, Verity Credit Union will serve as the funding partner to support small businesses in gaining access to fund business growth initiatives.
In June 2020, Microsoft formally committed to addressing racial injustice. Verity Credit Union’s collaboration with the Microsoft Partner Capital Fund is one example of the purposeful strides the two companies are taking towards supporting small businesses and underserved communities.
“Microsoft strives to create environments where small businesses have opportunities to access resources they need to grow. We look forward to partnering with Verity Credit Union as part of this important initiative.” Anita Mehra, corporate vice president, Global Treasury and Financial Services, Microsoft. “We hope our involvement will serve as a catalyst to encourage other companies to invest strategically to create new opportunities for more people in our community.”
About Verity Credit Union
Verity Credit Union is one of Washington State’s longest-standing credit unions, putting people, the planet, and prosperity for all above the bottom line. Our mission is to make meaningful, positive, and lasting change by partnering with our members and communities to co-create solutions. As a socially-responsible financial institution, about 95% of our deposits support the local economy and members with loans big and small to improve the well-being of businesses and individuals, especially those who have been historically left out of the financial system. We are one of few financial institutions with a Black woman CEO and leadership team and board that identifies predominantly female, allowing us to embody the change we’re working towards. Together, we can create stronger, healthier, more sustainable communities by making-people centric decisions.