To show our appreciation for our clients’ dedication to servicing their customers and communities during these uncertain times, we have provided a rebate check to our core clients. Our Board of Directors approved this rebate at our monthly Board meeting in April. This rebate, which is distributed among all of our core clients, represents approximately 20% of COCC’s fiscal year-end earnings in 2020.
Some of our clients chose to contribute the rebate they received toward local charities to further their support for their communities. Fairfield County Bank and GFA Federal Credit Union donated their credits to charitable organizations to help make a difference.
With the COCC client rebate, Fairfield County Bank was able to fund a second round of its Matching Gift Program with ten new local charities as part of the Feeding Fairfield County initiative. The Feeding Fairfield County initiative is backed by the bank’s $100,000 commitment to help its community members cope with sudden impacts of the national health crisis by feeding those in need.
GFA Federal Credit Union also strives to be actively involved in its local community because it is a vital part of engaging with its members. GFA showed its support for the community by contributing its COCC client rebate to health care workers fighting against COVID-19. This charitable giving will be redistributed to local hospitals and agencies throughout its branch network.
COCC is proud of our clients and their commitment to helping their communities and we are honored to have provided an opportunity to help them further their efforts.