CUNA Mutual Group has made a $20 million contribution, the single largest of its kind, to the CUNA Mutual Group Foundation that will further its long-term commitment to the communities and industry it serves. The unprecedented boost in funding, aided by federal tax reform, helps the company’s foundation further support nonprofit organizations that address economic challenges, education disparities, and equity issues facing many communities today.
“There are thousands of people in our communities struggling to make ends meet, and as one of Wisconsin’s largest employers, we want to make a real difference with this tax relief opportunity,” said Robert N. Trunzo, CUNA Mutual Group president/CEO. “It is imperative our foundation’s funding aligns with our company’s values and helps close the gap on economic and educational disparities in our communities. As a community leader, we will put this funding to work, where we live, work and serve to truly make a difference.”
Each year, the CUNA Mutual Group Foundation donates up to $2 million to local charities and nonprofit organizations. Recently, the foundation donated $400,000 to the National Credit Union Foundation’s disaster relief fund, $200,000 to the Urban League of Greater Madison’s jobs campaign, $100,000 to Porchlight’s Safe Haven program, and $500,000 to the Madison Metropolitan School District to expand the district’s community school program. With this sizable gift, the foundation now has a sustainable funding source to help more organizations for the long-term.
“Not only will this increase in funding create a substantial impact today, but it will also ensure our foundation work is funded for years to come, so during economic downturns when many companies must scale back, we can be there for our communities when they need us most. This is who we are, and more importantly, this is what we do,” Trunzo added.
Beth Cutler, foundation president, will lead the foundation grant process and continue to partner with nonprofit organizations in local communities and the credit union industry to further bring support to organizations that focus on reducing economic and educational gaps.