Truist Donates $500,000 to Enhance Financial, Education, and Employment Coaching for Richmond Families
In a generous gesture, Truist Financial Corp. announced a donation of $500,000 to the Richmond Office of Community Wealth Building. The philanthropic arm of Truist awarded this allocation to expand the reach of Lift Inc., a D.C.-based nonprofit that specializes in offering one-on-one financial, educational, and employment coaching.
Funds to Support Richmond Families
In a formal announcement, Truist Chairman and CEO William H. “Bill” Rogers Jr. said, “At Truist, our purpose is to inspire and build better lives and communities, and that is critical to everything we do.” He went on to explain that Lift’s program seeks to provide direct support to parents in need.
Lift Inc. CEO Michelle Rhone-Collins further elaborated by adding that, “there was already this happening within the office, but they didn’t have the capacity to do it at a grander scale, so we’re able to turbocharge the effort.” As of 2021, Lift has reached 900 families in Chicago, Los Angeles, New York, Washington, D.C., and Richmond.
Current Efforts to Support Disadvantaged Families
The Richmond Office of Community Wealth Building reported serving about 150 families in the city. By 2022, they anticipate to serve 300 families in total through various programs. Truist Foundation President Lynette Bell was in attendance of the announcement to vocalize their support of such initiatives: “We are so pleased to see the funds to support the expansion of [Lift’s] work as they link arms with the Richmond Office of Community Wealth [Building], to catalyze change, breaking down barriers and building new pathways to opportunities along the way.”
Looking Ahead: Training Case Managers for Increased Impact
As per the agreement, the grant from Truist will fund two years worth of training to case managers from the Richmond Office of Community Wealth Building. Technical assistance by Lift will help impart the skills needed to empower families and create a more just and equitable community.
With Joint Efforts, Financial Opportunities are Enhanced for Richmond Families
Truist Banking’s mission of “inspiring and building better lives and communities” was on full display with this grant. By combining resources with Lift, the City of Richmond hopes to bridge the gap for families and create access to financial coaching, educational development, and home security. This equitable access to services will be a great asset to the families of Richmond.