Charter Oak's Matching Gifts Donates $400,000 to Charities

Waterford, CT – December 26, 2019 – Charter Oak Federal Credit Union’s Matching Gifts Program donated a combined $400,000 from the credit union and its members that will benefit more than 300 charitable organizations.

“We were overwhelmed, once again, by the generosity of our members who donated to hundreds of charitable organizations in eastern Connecticut and beyond,” said Brian A. Orenstein, Charter Oak’s President and Chief Executive Officer. “Through our members continued generosity, countless organizations were helped this holiday season, including homeless shelters, food banks, and housing assistance programs,” he said.

Charter Oak’s initial Matching Gifts pledge of “$100,000 in 100 Days” was doubled during 2019 – as it was during the 2018 campaign – after the credit union’s Board of Directors recognized the need to increase matching funds based on the volume of member donations. During 2019, Charter Oak’s Matching Gifts Program received nearly 1,000 donations from its members that it matched to 304 charitable groups, from individual $25 matches up to $500 member matches. This year’s Matching Gifts initiative began on August 20 and ended on November 19.

Charter Oak began its Matching Gifts donation program in 2016. Since then, nearly $1.2 million has been donated by Charter Oak and its members. 

Charter Oak’s Matching Gifts program matches all qualified donations made by its members to 501(c)(3) charities. Among the hundreds of charitable groups in New London and Windham counties to benefit during 2019 from donations to Charter Oak’s Matching Gifts Program were the Terri Brodeur Breast Cancer Foundation, the Pawcatuck Neighborhood Center, the Friends of Assisi Food Pantry in Danielson, and the Windham County 4-H Foundation.

Charter Oak is eastern Connecticut’s largest credit union with assets of $1.17 billion as of September 30, 2019. Charter Oak has an expansive and convenient network of 16 branches serving New London and Windham counties, providing the largest and most convenient branch network of any financial institution serving eastern Connecticut. Federally insured by NCUA. Equal Housing Lender. 
About Charter Oak Federal Credit Union
Charter Oak Federal Credit Union is like a bank, just better! We've been proudly serving eastern Connecticut since 1939 and we offer great checking, deposit, lending, insurance and investment products. And because we're a credit union, we're owned by our members, not by shareholders. So we can offer lower rates on loans and higher rates on deposits. It's easy to become a Charter Oak member: simply live, work, worship, learn, or volunteer in New London or Windham counties. So join today and see why Members Bank Better at Charter Oak!