Puerto Rico Federal Credit Union (PRFCU), in conjunction with the Federal Home Loan Bank of New York (FHLBNY), granted $100,000 in financial assistance to a number of local nonprofits that were affected by the COVID-19 pandemic.
The capital injection came from the Small Business Recovery Grant Program, the institutions said.
Among the entities that received the donations are: Fundación Pro Hospital del Niño; Fundación San Jorge Children’s Hospital; Fundación Puertorriqueña del Riñón; Fundación Centro Pediátrico de Diabetes; Santuario de Animales San Francisco de Asís; Comedores Sociales de Puerto Rico; and, Fundación Luis A. Ferré, among others.
“We identified some funds so that these entities could reestablish themselves, develop capital and seek other resources that they stopped receiving due to COVID-19,” said Puerto Rico Federal Credit Union CEO Jomar Martínez-Gómez.
Over the past months, PRFCU began identifying organizations qualified for their social impact and that through this incentive could reinforce their efforts. The funds have “allowed qualified organizations to evolve in a difficult economic environment, buy equipment, inventory, and have capital to cover expenses and support the continuity of their operations,” he said.
It is the first time that PRFCU participates in these types of programs that are essential and important for community development, he said.
“In the middle of this crisis, supporting our communities is more important than ever. We’re inspired by the hard work that these organizations do every day with the communities that need it most,” added Martínez-Gómez.