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Cal Coast Credit Union raises $35K to support local businesses

Cal Coast Credit Union
Posted at 3:16 PM, Mar 17, 2021
and last updated 2021-03-17 18:16:04-04

SAN DIEGO (CNS) - California Coast Credit Union, its members and the community raised $35,000 during a recent initiative that was created to support local minority-owned businesses and four local non-profits that have been impacted by the COVID-19 pandemic.

During the campaign, members were encouraged to shop locally, and each time they used their Cal Coast MasterCard debit or credit card, the credit union would donate proceeds to the Strategic Alliance - San Diego, which represents local minority-owned businesses.

The effort raised $20,000, all of which will go directly to aid small businesses with the greatest need. California Coast Credit Union will also donate an additional $10,000 to the Strategic Alliance, bringing the total for this portion of the campaign to $30,000.

"In a year that has created unprecedented challenges for local businesses and non-profits, this initiative proves that when the community comes together, we can make a difference," Cal Coast President and CEO Todd Lane said. "And by continuing to shop locally, you can extend that impact and show support for your local community."

Additionally, area residents were asked to donate directly to their choice of four local non-profits that make a difference in the lives of people in San Diego and Riverside counties. Their donations, along with a match from the credit union, raised $5,000 for the Jacobs & Cushman San Diego Food Bank, the Cal Coast Cares Foundation, the Monarch School and Operation SafeHouse.

"Many of our minority owned businesses have been disproportionately affected and left behind with COVID-19 disaster relief capital and resources," said Jason Paguio, president and CEO of the Asian Business Association of San Diego. "We're thankful to Cal Coast Credit Union for taking a proactive and thoughtful approach to supporting the communities represented by the Strategic Alliance, which includes the Asian Business Association of San Diego, the Central San Diego Black Chamber of Commerce and the San Diego County Hispanic Chamber of Commerce."