Grants will support post-Hurricane Helene
housing and small business recovery, long-term resiliency
CHARLOTTE, N.C., Jan. 15,
2025 /PRNewswire/ -- Truist Foundation today
announced it will partner with Center for Disaster Philanthropy to
provide over $20 million in disaster
recovery grants in Western North
Carolina as part of the Truist Cares for Western North Carolina initiative. Flooding in
the aftermath of Hurricane Helene, which hit in September 2024, destroyed or damaged more than
250,000 homes across 39 counties in Western North Carolina with economic impacts
reaching $53 billion. The grants will
provide resources to help support and sustain critical housing and
small business recovery and long-term resiliency in the region.
"Truist Foundation is dedicated to helping communities after
disasters strike, and this collaboration represents a significant
step forward in our effort to help Western North Carolina recover from the
impacts of Hurricane Helene," said Lynette
Bell, president of Truist Foundation. "By joining forces
with Center for Disaster Philanthropy and other trusted partners,
we can leverage our collective resources and expertise to address
critical areas of need, including supporting families with
rebuilding homes and entrepreneurs with restoring their businesses.
Together, we are committed to making community-driven grants to
create an even stronger, more resilient region."
Through the Truist Foundation Western North Carolina Recovery
and Resiliency Fund, CDP will provide grants over the next several
years to address medium- and long-term needs to help strengthen the
region's housing and small businesses. Grantmaking decisions will
be guided by CDP's assessment of damages as well as community
capacity and unmet needs to support the area's recovery. Nonprofit
organizations will be invited to apply for funding based on the
results of CDP's assessments. To learn more or to submit a
nonprofit organization interest form, click here.
"We are incredibly grateful to Truist Foundation for its
commitment to the recovery needs of communities devastated by
Hurricane Helene," said President and CEO of the Center for
Disaster Philanthropy Patricia McIlreavy. "This significant
investment in the people of Western North
Carolina allows us to strategically support the long-term
needs of the area through comprehensive solutions that address the
many aspects of recovery so that survivors can rebuild stronger. In
taking this approach, we also ensure that communities are better
positioned to withstand the next disaster."
As part of the Truist Cares for Western North Carolina initiative, Truist
Foundation will also provide significant grants to The Community
Foundation of Western North
Carolina for its Emergency and Disaster Response Fund, which
will help nonprofits mitigate impacts of Hurricane Helene, and the
American Red Cross for its long-term recovery program, which helps
families and communities continue to rebuild in the months and
years after disasters, including hurricanes.
Truist Cares for Western North
Carolina is a three-year, $725
million commitment to support critical small business,
housing and infrastructure needs in Western North
Carolina as communities impacted by Hurricane Helene recover
and rebuild. The commitment includes new, dedicated loan capital
for local small businesses, residents and municipalities from
Truist Bank, impact capital from Truist Community Capital,
philanthropic giving from Truist Foundation and additional
on-the-ground humanitarian support from Truist teammates to help
establish long-term resiliency in this devastated region. For more
information on this initiative, visit Truist.com/TruistCares.
About Truist Foundation
Truist Foundation is committed
to Truist Financial Corporation's (NYSE: TFC) purpose to inspire
and build better lives and communities. The foundation, an endowed
private foundation established in 2020 whose operating budget is
independent of Truist Financial Corporation, makes strategic
investments in a wide variety of nonprofit organizations centered
around two focus areas: building career pathways to economic
mobility and strengthening small businesses to ensure all
communities have an equal opportunity to thrive. Embodying these
focus areas are the foundation's leading initiatives — the Inspire
Awards and Where It Starts. Learn more at
Truist.com/Foundation.
About Truist
Truist Financial Corporation is a
purpose-driven financial services company committed to inspiring
and building better lives and communities. As a leading U.S.
commercial bank, Truist has leading market share in many of the
high-growth markets across the country. Truist offers a wide range
of products and services through our wholesale and consumer
businesses, including consumer and small business banking,
commercial banking, corporate and investment banking, wealth
management, payments and specialized lending businesses.
Headquartered in Charlotte, North
Carolina, Truist is a top-10 commercial bank with total
assets of $523 billion as of
Sept. 30, 2024. Truist Bank, Member
FDIC. Learn more at Truist.com
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SOURCE Truist Foundation