NVE Bank Awards $100K to 10 Bergen County Nonprofits

On Aug 4, 2020

NVE Bank has awarded $100,000 in grants to 10 Bergen County non-profit organizations impacted by COVID-19. The organizations are in Bergenfield, Closter, Cresskill, Englewood, Hillsdale, Leonia, New Milford, and Tenafly; each received $10,000. NVE’s grantees are dedicated to supporting education, food insecurity, home repair for low-income homeowners, nature preservation, and faith-based initiatives.

NVE Bank provided the funds in conjunction with the FHLBNY SBRG program. Grant funds are intended to support organizations that have experienced a significant decrease in revenue or unanticipated extraordinary expenses because of the ongoing COVID-19 crisis, and are least likely to have access to other sources of emergency funds.

“As a community mutual bank, our mission is to ensure the people and organizations in the nine towns we serve remain strong, even in these difficult times,” said NVE Bank President and CEO Robert Rey. “We do not issue stock or exist to maximize investor returns for Wall Street, which allows us to focus on serving our customers and community. Our goal with these grants is to help those that help our communities. For many of these organizations, large portions of their revenue are secured through fundraising programs and events that were canceled due to the pandemic. NVE is thankful to be able to help them get back on track by providing these grants.”

Grantees are required to utilize the money for specific purposes, such as but not limited to COVID-19 compliance efforts, purchasing and installing safety equipment, reconfiguring spaces, re-hiring employees, and working capital needs.

Executive leaders from NVE Bank met with representatives from each receiving organization to present their grant funds. Check presentation photos are available upon request.

NVE will be highlighting each grantee in an ongoing series of social media features.

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