Travis Credit Union gives $1M to nonprofits and small businesses amid COVID-19 crisis

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Travis Credit Union gives $1M to nonprofits, small biz amid coronavirus pandemic
Travis Credit Union

Following the suspension of an important grant program amid the COVID-19 pandemic, the San Pablo EDC, a nonprofit that provides economic support and workforce development in the city, felt dejected. “We had worked so hard on our application and turned it in early,” Executive Director Leslay Choy said.

Choy said she understands — “this is a complex time on an unprecedented scale,” and nonprofits are suffering.

But there’s been good news to share, as well. On Tuesday, Travis Credit Union announced it is immediately providing $1 million to support 96 nonprofits and small businesses across five counties, and that it will match up to $4 million given to the TCU Foundation from other sources. Visit tcufund.org to make a donation.

The San Pablo EDC is among Travis Credit Union’s existing nonprofit partners that will receive a portion of the funds. Choy says the contribution will help the nonprofit “reset and dig deep” to assist struggling community families and businesses.

“We have businesses and jobs to save, and families to help keep in their homes,” Choy said. “TCU doing this is amazing.”

TCU said its funding initiative will support frontline organizations providing direct service during the pandemic, such as food banks, shelters, family resource centers and school districts, as well as nonprofits and organizations focused on supporting critical populations, including homeless, foster youth, LGBT and Latino individuals.

Funds will also support nonprofits that support small businesses and economic development in their communities, many of which are already TCU partners such as the San Pablo EDC.

“TCU does a great deal for those of us in West County and their Richmond branch is incredibly busy,” Choy said.

Barry Nelson, TCU president and CEO, said the initiative is about supporting the “most vulnerable in a time of crisis.”

“We are making immediate investments to support the organizations who are in the business of people helping people, and we are here, as we have been for nearly 70 years, to serve our community,” Nelson said. “Credit unions are built for times like this.”

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