Cornerstone CU donates $17,500 to Local Organizations through Impact Fund Grant Program
October 5, 2020
FREEPORT, IL – Cornerstone Credit Union (CCU) was a recipient of a $15,000 grant as part of the Federal Home Loan Bank of Chicago’s (FHLB) Targeted Impact Fund. The FHLB grant program was created to provide member financial institutions with grants to support relief efforts for populations hardest-hit by COVID-19, as well as to promote equity and opportunity for communities of color in Illinois and Wisconsin. CCU added $2,500 to the total amount as a dedicated corporate donation for this important effort. This grant is the second opportunity offered by the FHLB; Cornerstone was a recipient of a $20,000 grant through FHLB’s initial COVID-19 Relief Program in June 2020.
Gail Clore, Cornerstone Credit Union President/CEO, stated, “When applying for this FHLB grant, we determined housing sustainability for individuals and families was a key focus in our selection of recipients. This additional program will allow Cornerstone to provide muchneeded funds to organizations serving those adversely affected in our service communities, which supports our ongoing mission of meaningful outreach.” Clore added, “We are proud to join the long list of community partners donating their resources in meaningful ways throughout the pandemic.” Recipients include three organizations located in the 11-county area served by CCU, one in each of their branch location communities:
-$5,000 to Freeport Salvation Army Pathway of Hope Program
-$6,500 to Family Promise of Greater Beloit
-$6,000 to Twin Cities PADS Homeless Shelter in Sterling
Cornerstone is dedicated to their over 80-year commitment of local giving for local living.
Established in 1939, Cornerstone Credit Union is a full-service, not-for-profit financial cooperative with $137 million in assets, serving nearly 13,000 members. Cornerstone offers service centers in Freeport, South Beloit, Sterling and Milledgeville. Membership is open to anyone living or working in the Illinois counties of Boone, Bureau, Carroll, JoDaviess, Lee, Ogle, Stephenson, Whiteside, and Winnebago; and Rock and Green counties in Wisconsin. Visit cornerstonecu.org to learn more.