Hurricane Harvey battered much of Texas, leaving devastation in its wake, with billions needed to help the state and its people recover. Banks and credit unions are stepping up by donating millions to the American Red Cross, local organizations, and nonprofits to help with the recovery efforts. Some institutions are also providing matching programs for their employees and waiving fees.
The growing list of banks donating to Hurricane Harvey relief include:
- JPMorgan Chase has committed $1 million to the American Red Cross, as well as other organizations working in the affected areas, while also matching employee donations. They are also waving late fees for mortgage, credit card, overdraft, and business banking and auto loans, as well as monthly service and ATM fees on deposit accounts for those in areas affected by the hurricane until September 10.
- The Bank of America Charitable Foundation is giving $1 million, which includes a $250,000 contribution to the American Red Cross, along with matching employee donations from now until September 30.
- The Citi Foundation is donating a $1 million to the American Red Cross.
- American Express is giving $150,000 to the American Red Cross, along with matching donations from their employees to the organization up to $100,000.
- Wells Fargo is giving $500,000, which will go to the American Red Cross, as well as local nonprofits.
- The PNC Foundation is giving $250,000 to the American Red Cross, while also matching contributions by their employees up to $100,000.
- The Royal Bank of Canada is contributing $100,000 to the American Red Cross.
- Regions Bank has committed $100,000, which will go to United Way of Greater Houston’s Flood Relief Fund and a local program. It will be divided between the two organizations.
- PenFed is contributing $50,000 to the Corpus Christi and Houston chapters of the American Red Cross.
Discover cardholders can donate too
Discover has created a way for their cardholders to participate, by pledging up to $500,000 to the American Red Cross for Hurricane Harvey relief via their matching donation campaign. People interested in upping their donation simply use either their Discover Card or their Cashback Bonus to make a donation. Discover will then match their donation dollar for dollar up to $500,000.
Discover is also matching any donations their employees make via their Employee Giving Program, and here too they will be matching donations dollar for dollar. “Hurricane Harvey has created an urgent need for assistance in the southeast Texas area,” said David Nelms, Chairman, and CEO of Discover.
“Our cardmembers and employees share a strong interest in supporting relief efforts and providing a means of doing so will help make their donations go further and assist more people, he said.” They are also waiving transaction fees on donations made to the American Red Cross via credit card.