Madison, Wis. skyline. (Source: Adobe Stock)
Officials from the Madison, Wis.-based UW Credit Union said, beginning next week, it's sending out almost $500,000 in emergency grants to 24 Madison and Milwaukee, Wis.-based organizations.
According to a statement from the credit union, the grants will be distributed through its UW Credit Union Fund for Racial Equity and the money will benefit issues such as addressing homelessness and mental health concerns in those communities. This is part of a larger $1.5 million investment in economic mobility, launched in partnership with the United Way of Dane County and the United Way of Greater Milwaukee and Waukesha County.
In a news release, UW Credit Union (more than $4 billion in assets, more than 275,000 members) had earmarked $250,000 for the project and both United Way partners added more to the pot to be distributed.
"We are acutely aware of the outsized negative impact that this health and economic crisis is having on families and individuals," Renee Moe, president/CEO of United Way of Dane County, said. "As a community, we are still very much in crisis mode. Immediate access to emergency funds is a critical step to long-term recovery."
According to the announcement, of the 24 emergency grant recipients, 13 are local to Dane County and 11 are based in the Greater Milwaukee area. Those organizations receiving the grants work on a variety of social issues from homelessness and Latinx vaccine efforts to youth mental health services and college readiness.
"To see both the immediate and longstanding impact these funds will have in our community is rewarding on multiple levels," UW Credit Union Vice President of Diversity Equity, and Inclusion Sheila Milton said. "Fundamentally, we know that the challenges non-profits face are compounded by the pandemic, stretching already limited resources. These emergency funds bridge a lot of gaps, but also provide some breathing room to prepare for what comes next."
"Emergency funding will empower more of our Odyssey families, 95% of whom are from communities of color, to break a cycle of generational poverty and achieve dreams many were told were impossible," Emily Auer, Odyssey Project Executive Director, said. "BIPOC students have been hit disproportionately hard by the pandemic and by centuries of racial oppression. The generous support from UW Credit Union and United Way Dane County will help us address these disparities through a free college jump-start program and a whole-family approach to learning."
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
