CU Donates $20,541 through Cash Back to the Communty Program

American Eagle Financial Credit Union (AEFCU) announced the recipients of $20,541 in donations from its new participatory funding program, Cash Back to the Community.

Nonprofit organizations Early Childhood Collaborative of Southington, Furry Animals Being Saved Rescue in Tolland, and Friends of Feeney in West Hartford each received a donation of $6,847 for earning the most votes in AEFCU’s first quarter Cash Back to the Community program. Nearly 160 organizations were nominated and 1,410 total votes cast from AEFCU members and the general public for this quarterly giving philanthropic effort.

Throughout 2020, AEFCU is donating one percent 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–is being distributed to the three top qualified nonprofits as voted on by a combination of the Credit Union’s members and the public.

“We created Cash Back to the Community to invite our members and public to play an active role in our philanthropic efforts. Little did we know then how vital these funds would be to nonprofits during the current COVID-19 pandemic,” said Dean Marchessault, President and Chief Executive Officer of American Eagle Financial Credit Union. “As Connecticut’s largest community-focused credit union, we are always concentrated on making the places where we live and work better, and responding quickly during critical times,” added Marchessault.

“I was exciting to hear from the American Eagle Financial Credit Union that we were a Cash Back to the Community award recipient,” said Joanne Kelleher, director of the Early Childhood Collaborative of Southington an organization dedicated to the growth, development and academic success of young children in town. “This donation will give us the financial flexibility to help parents and childcare providers through the Covid-19 crisis in ways we weren't previously considering. We are concerned about both the short-term issues of health risks, increased domestic violence, food insecurity, distance learning and the financial stability of the childcare industry, but also the long-term impacts this traumatic situation may cause to the brain development and future education of our youngest children.”

“American Eagle’s Cash Back to the Community Award will support the mission FABS Rescue set out to achieve: to save animals from suffering and give them the love, care and medical treatment they need to live happy, healthy lives,” said Fabrizia Dimaio, founder of Furry Animals Being Saved Rescue, Inc. based in Tolland. “This generous donation will allow us to continue our efforts to not only care for the pets currently in our rescue, but also enables us to rescue even more animals at risk of abandonment or euthanasia.”

West Hartford-based Friends of Feeney, Inc. was recognized for their work focused on supporting local children and families who need assistance after experiencing heartbreak and/or tragedy.  “As a grassroots group that started in 2016 and then formally becoming a nonprofit 501c3 in 2019, all of our funds have come from person to person contact fundraising.  Being awarded this donation from American Eagle Financial Credit Union will allow us to reach and support so many more of our community's children and families during a time when the need to help each other is so great,” said Eric Feeney, founder of Friends of Feeney. “This generous donation will allow us to set up an ‘emergency request for support’ system designed to quickly reach as many friends of our community as possible.”

Second Quarter Voting June 8-21
Voting for second quarter nominees for Cash Back to the Community will take place June 8-21, 2020, on American Eagle’s website or social media sites, including Facebook, Twitter, Instagram and LinkedIn.