Credit Unions & Trade Groups Raise Funds to Aid Colorado Fire Victims

Credit unions and trade organizations have pledged to make large donations to help the victims of the Dec. 30 Marshall Fire that destroyed or damaged thousands of homes and dozens of businesses in Colorado.

The Elevations Credit Union and the Elevations Foundation announced last week that its Fire Relief Fund has raised nearly $1.1 million. Of that amount, the credit union’s members, business partners and community have provided more than $892,000.

The Elevations Foundation and the $3 billion Elevations Credit Union in Boulder, Colo., each matched $100,000, which amounts to a total of $1,092,582.

Boulder County officials reported earlier this month that 1,084 homes were destroyed, and 149 homes were damaged causing more than $513 million in financial losses. Nearly 40 commercial structures, including a KeyBank branch on McCaslin Boulevard in Superior, were either damaged or destroyed, county officials said. No damage estimate was available. According to local media reports, investigators believe the most destructive fire in Colorado’s history originated from a nearby burning shed.

Elevations CU said it has partnered with Boulder County Department of Housing and Human Services as a fiduciary partner for distribution of the funds, ensuring 100% of money will be donated to support the victims of the fires.

According to the Mountain West Credit Union Association’s Marshall Fire Relief page, other credit unions that are raising funds included the $3.4 billion Canvas Credit Union in Lone Tree, which is encouraging donations to the Canvas Foundation. Collected funds will go to the American Red Cross to support fire victims. Canvas will be matching all funds collected up to $200,000. The $1.5 billion Blue Federal Credit Union in Cheyenne, Wyo., and the Blue Foundation have committed to match donations made to the Blue Foundation Fire Relief Fund, up to $100,000, increasing the potential donation to $200,000.

In addition, the $1.5 billion Premier Members Credit Union in Boulder has pledged $50,000 to the Premier Gives Boulder County Wildfire Relief Fund to benefit the Community Foundation Boulder County’s response efforts.

The $1.9 billion Westerra Credit Union in Denver is matching funds up to $50,000, the $443 million Denver Community Credit Union has donated $5,000 to the Community Foundation Boulder County Relief Fund and the $1.4 billion TruWest Credit Union in Tempe, Ariz., has donated $25,000. This donation was split between Elevations CU and the Elevations Foundation, and Canvas CU and the Canvas Foundation for $12,500 each. Both organizations will match these donations, which will increase the total to $50,000, according to MWCUA’s Marshall Fire Relief page.

The National Credit Union Foundation also announced earlier this month that it has committed up to $15,000 from its CUAid disaster relief program. The CUAid grant funds will be distributed to the Mountain West Credit Union Foundation, which will coordinate individual disbursements.

“The CUAid grant will serve as some relief to those who have lost, in many cases, everything since the start of the new year,” Dr. Dan Santangelo, executive director of the Mountain West Credit Union Foundation said in a prepared statement. “Fortunately, only a few credit union employees have reported damage but with such widespread devastation we have to assume there may be others. We are encouraging any credit union employees and volunteers affected to reach out to MWCUF directly.”

In addition, Dr. Santangelo said Mountain West Credit Union Foundation will match CUAid’s $15,000 and any subsequent CUAid grants relating to Marshall Fire of up to $50,000.

For more information or to contribute, visit the Mountain West Credit Union Association’s Marshall Fire Relief page.