Circle, Mont. (July 14, 2020) — In the coming week, Grasslands Federal Credit Union (Grasslands FCU) will be distributing over $25,000 to more than 20 local non-profit organizations. The global COVID-19 pandemic has wreaked havoc on many small businesses and organizations. Grasslands FCU has supported 54 Montana businesses by providing business loans through the Paycheck Protection Program (PPP), a federal program authorized in March 2020, which has provided financial relief for businesses economically impacted by the COVID-19 crisis. As an authorized Small Business Administration lender, the credit union received origination fees for administering Paycheck Protection Program loans. In the spirit of the Credit Union Philosophy, the credit union stepped up to help members pay it forward by distributing the bulk of the origination fees back to the communities they support. Each recipient of a PPP loan that originated through Grasslands FCU had the opportunity to identify which non-profit located within the credit union’s Field of Membership they most wanted to support. A sum of $750 then went to the non-profit of their choosing. Some members chose to split their contributions amongst various organizations, while others directed a lump sum to one organization. To date, the credit union has identified more than 20 local organizations that will benefit from the contribution. “Non-profit organizations have been hit hard during COVID-19 due to the cancelation of fundraisers and annual events that typically fund their mission’s efforts,” said Emily Guldborg, manager and CEO of Grasslands FCU. “With the credit union philosophy of ‘people helping people’ in mind, we wanted to do our part to bridge the gap and give back to the communities that have long supported us. We hope to inspire other members of the community to continue reaching out to help one another during this critical time.”Grasslands FCU expects to distribute around $10,000 in additional funds over the coming months through their PPP efforts. About Grasslands Federal Credit UnionGrasslands Federal Credit Union is a cooperative, not-for-profit financial institution, chartered by the federal government, owned and controlled by our members. It serves McCone, Garfield, Dawson, Richland, Wibaux, Roosevelt, Valley, Phillips, Petroleum, Rosebud, Custer, Fallon and Prairie county residents. To learn more about Grasslands FCU, please visit https://grasslandscu.com/.
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