Valley Bank has donated $438,000 to 41 community organizations and nonprofits in New York City and on Long Island as part of its COVID-19 relief efforts.
The money was raised with an assist from Valley’s Community Pledge Certificate of Deposit Program, which it began offering in 2020. The CD offered a market rate and Valley matched the interest with a direct donation to community organizations that were providing relief in support of the COVID-19 pandemic.
The $438,000 in donations for local nonprofits is part of $2.183 million that Valley has given to 264 organizations through its relief efforts.
Long Island nonprofits who received donations included Island Harvest and Long Island Cares. City Harvest, Food Bank for New York City and Reconnect Brooklyn were also recipients of Valley’s donations.
“The funds we’ve donated through our Community Pledge CD program will help ensure the organizations that serve our communities can continue to do so,” Valley Executive Vice President and Chief CSR-CRA Officer Bernadette Mueller, said in a company statement. “Valley is honored to support these organizations that have worked tirelessly in the face of challenges to serve our communities.”