Normal charities unaffected by hurricane relief
NEW YORK (4/19/06)--Despite fears that normal charities would suffer lower donations due to hurricane relief efforts, 90% of Americans gave to both, and credit unions were no exception.
"It would appear that Americans once again came to bat for people suddenly in need while continuing to support the worthy causes they have always supported," said Lynn Franco, director, The Conference Board Consumer Research Center, which released the study.
Steve Delfin, executive director of the National Credit Union Foundation (NCUF) and a former national fund-raising executive with the American Red Cross, said The Conference Board findings are consistent with his experience. "Americans are unique in their charitable instincts; we tend to give more when times are difficult," Delfin said.
"By way of example, NCUF received a record $3.4 million in donations for disaster relief investments without having a negative impact on our primary fund-raising vehicle: the Community Investment Fund (CIF)," he said.
"The CIF remains solid with over $325 million in investments from nearly 600 credit unions. Donations from the CIF have leveraged another $3 million in grants so far this year to help credit unions provide affordable services, financial education, and asset-building programs," Delfin said. As of January, NCUF committed and disbursed more than $2 million in the first two phases of the Hurricane Katrina relief effort through the Louisiana, Mississippi and Florida leagues.
The Conference Board survey covered 5,000 households. According to the Center of Philanthropy, contributions to hurricane relief amounted to an estimated $3.6 billion as of February.
More than three-quarters of families surveyed contributed to charities last year, with 63% earmarking funds for hurricane relief efforts. More than one-third of the surveyed households gave more than $100 to charitable causes, 36% gave between $26 and $99 and just under one-third contributed less than $25.
Only 13% of donors said their companies matched their giving to hurricane relief efforts. But of that number, more than 70% took advantage of their company's match program, if it was offered.
Preliminary responses to an upcoming study from The Conference Board on overall corporate contributions indicate that one-fourth of companies say their giving to hurricane relief and natural disasters will be more important for the upcoming year.
"While there is no single recipe for giving, responding to natural disasters is taking a higher priority," Franco said.
More CU/System
News Now LiveWire
- Iowa Gov. Terry Branstad credited Dupaco Community CU for its role in helping an Iowa small business grow and create jobs. - 1 hour ago
- Iowa Gov. Terry Branstad visits Dupaco Community CU, notes CU's role in helping small bizzes grow & creating jobs in state. - 2 hours ago
- Gunman killed Friday in shootout w/ police outside PBC CU, West Palm Beach, Fla., I.D.'d as Christopher Brown, 18. No one hurt inside CU. - 3 hours ago
- In Wash Post article on ?end of Fannie and Freddie,? CUNA?s Hampel says CUNA, CUs are working on contingency plans. http://t.co/bzmi57mY - 3 hours ago
- John Bell, an employee of NC Community FCU, has announced his candidacy for the NC House of Representatives. - 3 days ago
- See all our Tweets and sign up; News Now LiveWire on Twitter
