Verity Credit Union Awards Microgrants To Five Community-based Organizations
Verity Credit Union, one of Washington State’s longest-standing credit unions, recently announced the recipients of its Spring 2023 Microgrants. As one of the few financial institutions with a Black woman as a CEO and a leadership team and board that identifies predominately female, Verity focus on social responsibility, and community-rooted banking is evident in their support of local organizations that look to make a difference in our community.
Launched in 2017, Verity’s Microgrant Program provide unrestricted funding to organizations with limited access to traditional funding sources due to factors such as organizational size, age, or tax-exemption status. To date, the program has supported a total of 48 organizations with over $100,000 to organizations led by Black, Indigenous, and People of Color (BIPOC).
This year, Verity Credit Union doubled the grant amount from $2,500 to $5,000 for the recipients. The program targets organizations with a total asset size of less than $250,000 and accepts applications on a rolling basis, with new recipients announced in the spring and fall.
As part of the program, Verity worked closely with nonprofit partners to better understand the needs of their communities and realign their grant process accordingly. The winners of the microgrants include Black Arts Love, BRAVE, Project Feast, Native American Reentry Services, and South King County Discipline Coalition, each organization received $5,000 to support their community-focused initiatives.
According to Ziquora Banks, Chief Impact Strategy Officer of Verity Credit Union, the increased funding reflects Verity’s commitment to supporting organizations that address systemic barriers and contribute to the well-being of historically excluded communities.
“Our Microgrant Program is a critical part of our commitment to support and address systemic barriers that historically excluded communities face,” said Banks. “We’re thrilled to see the growth in applications and pleased to be able to surprise our recipients by doubling the expected grant amount to $5,000. We can’t wait to see the impact on both the organization’s growth and success and benefits received by those individuals, groups and businesses they serve.”