Bank partnerships expand critical support services for communities in OR, WA, CA
PORTLAND, Ore., (December 28, 2020)—Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (UMPQ), announced today $300K in grants for nonprofit partners that adapted to the disruptions of 2020 and expanded critical support services to underrepresented communities most impacted.
Three nonprofits were each awarded a one-year, $100,000 grant, including: Tacoma, Wash.-based Tacoma Housing Authority; Roseburg, Ore.-based NeighborWorks Umpqua; and Sacramento, Calif.-based Alchemist Community Development Corporation.
“These grants acknowledge the tremendous agility of nonprofits that were stretched more than ever, yet expanded to help individuals and communities overcome hurdles of the pandemic, wildfires, and more,” said Umpqua Bank CEO Cort O’Haver, “All three partners are outstanding examples of adaption and resiliency in service to others, and we’re thrilled to support and expand the impact of their work.”
Awarded through the Umpqua Bank Charitable Foundation, the grants give flexibility to support innovative programs that address the unique challenges of 2020 for the most vulnerable citizens and communities. Key priority areas include affordable housing, family financial stability and small business support.
More about Umpqua’s nonprofit partners:
Tacoma Housing Authority (THA) provides high quality, stable and sustainable housing and supportive services to people in need to help communities become safe, vibrant, prosperous, and just. Umpqua Bank’s grant will help directly support vulnerable citizens affected by COVID-19 through THA’s Whole Family Support fund and services. THA has adapted to address unmet needs during the pandemic, including providing educational assistance, community spaces, rent assistance and transportation vouchers.
NeighborWorks Umpqua is a Southern Oregon rural-focused housing and community development corporation committed to promoting opportunity for all. The Umpqua Bank grant will expand its Financial Opportunity Center (FOC) bilingual staff and resources into Josephine and Jackson Counties. Financial Opportunity Centers help low-income working families build financial stability.
Alchemist Community Development Corporation is a mission-driven organization that connects Sacramento area communities to land, food, and opportunity toward a vision in which all neighborhoods are vibrant, equitable, healthy, and diverse. The grant from Umpqua Bank will help fund Alchemist Kitchen’s Microenterprise Academy, designed to help food entrepreneurs who are low-income or from disadvantaged communities start their own business.
Today’s announcement continues Umpqua’s response to this year’s challenges. Since March, the bank has provided $2 million to nonprofits on the frontlines of the pandemic and is distributing $750K in wildfire relief funding. Umpqua expanded a new virtual volunteer platform and increased its existing employee match program to further support nonprofits with an additional $100,000 in contributions. Through the federal Paycheck Protection Program, Umpqua also facilitated more than $2 billion in funding for 17,000 small businesses that helped save more than 250,000 jobs.
About Umpqua Bank
Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation, and has locations across Idaho, Washington, Oregon, California and Nevada. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including The Wall Street Journal, The New York Times, BusinessWeek, Fast Company and CNBC. The company has been recognized for eight years in a row on FORTUNE magazine’s list of the country’s “100 Best Companies to Work For,” and was recently named by The Portland Business Journal the Most Admired Financial Services Company in Oregon for the sixteenth consecutive year. In addition to its retail banking presence, Umpqua Bank also owns Financial Pacific Leasing, Inc., a nationally recognized commercial finance company that provides equipment leases to businesses.
About Umpqua Bank Charitable Foundation
The Umpqua Bank Charitable Foundation recognizes the fundamental connection between education and economic prosperity. It works to strengthen the communities Umpqua Bank serves by investing in organizations and initiatives that expand access to education and create economic opportunities for children and families. The foundation was initially funded with $10 million in April 2014, and was formed to demonstrate the company’s deep commitment to the communities it serves.
