American Eagle Financial Credit Union to Donate 1% of Card Interchange Income to Charities

EAST HARTFORD, CT – January 23, 2020 – Continuing its tradition of putting philanthropy into action to help create safer, healthier and more vibrant communities, American Eagle Financial Credit Union (AEFCU) now invites its members and the general public to help decide what qualified, local nonprofit organizations will receive donations with its new participatory funding program, Cash Back to the Community.

American Eagle will donate 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–will be distributed to the three top qualified nonprofits as voted on by the Credit Union’s members and the public. “We really like the open-door partnership that Cash Back to the Community represents,” said Dean Marchessault, president and chief executive officer of American Eagle Financial Credit Union. “Our members generate the funding and can also help steer where it goes.”

Three nonprofit organizations will be selected each quarter for a total of 12 Cash Back to the Community donations annually. In addition, they and the public are eligible and encouraged to nominate and vote for donor recipients via social media and American Eagle’s website. 

“As Connecticut’s largest community-focused credit union, we are always concentrated on making the places where we live and work better.  Cash Back to the Community expands American Eagle’s philanthropic efforts by inviting our members and the community to play an active and engaged role in helping steer where this funding will be used,” said Marchessault.  “This program builds upon the funding that we already provide to the community, including corporate and in-kind donations, grants from our AEFCU Fund at the Hartford Foundation for Public Giving, and employee volunteerism.” 

To become a member—or customer—of American Eagle Financial Credit Union, one must live, work, worship or attend school in Hartford, Middlesex, Tolland or New Haven County in Connecticut, or Hampden County, Massachusetts.  One also can join American Eagle if they have an immediate family member who's an American Eagle member, or if they live in the same household as a current American Eagle member.  Once a person joins American Eagle, he or she will be members for life, even if a change of jobs or a move takes them away from Connecticut.

Nominations and voting for Cash Back to the Community will be conducted via American Eagle’s website or social media sites, including Facebook, Twitter, Instagram and LinkedIn. 

Established in 1935, American Eagle Financial Credit Union is a full-service Connecticut credit union offering savings accounts, checking accounts, credit cards, auto loans, mortgages, business accounts and much more. American Eagle offers banking online, through its mobile app or at one of its 15 convenient branches in Avon, Bloomfield, Cromwell, East Hartford, Enfield, Farmington, Glastonbury, Manchester, Newington, North Haven, Plainville, South Windsor, Southington, Vernon and West Hartford.