Western Alliance Bank Announces $2 Million Donation to Strengthen, Help Protect Communities Impacted by COVID-19
May 11, 2020
Western Alliance Bank (NYSE: WAL) today announced it is committing $2 million in 2020 to help mitigate the impact of the COVID-19 global pandemic on its local communities, and to strengthen those communities as they work to emerge from the crisis.
The funds will help address shortages of personal protective equipment (PPE) for first responders, address food insecurity, invest in technology to aid online learning, aid struggling small businesses, support pediatric care and provide assistance to some of the most vulnerable in the communities Western Alliance serves.
“Our communities face unprecedented health and economic challenges from the coronavirus,” said Kenneth Vecchione, President and Chief Executive Officer of Western Alliance Bank. “We are a people-first organization, and that we are able to help others – from firefighters and front-line healthcare workers to small businesses and hungry families who need support right now – is meaningful to all of us.”
Contributions will be directed primarily to local COVID-19 relief funds and nonprofit and community organizations in Arizona, California and Nevada, where Western Alliance operates individually branded, full-service banking divisions: Alliance Bank of Arizona, Bank of Nevada (Southern Nevada), Bridge Bank (Northern California), First Independent Bank (Northern Nevada), and Torrey Pines Bank (Southern California).
The nonprofit and community organizations selected to receive funding have committed to supporting the immediate and long-term needs of those affected by the pandemic, putting resources into those communities quickly and efficiently.
In Arizona, funded organizations include:
The Arizona Coronavirus Relief Fund, providing PPE to first responders, as well as financial support for local food banks, homeless shelters, domestic violence shelters, and technology for online learning for low-income students.
The Local First Arizona Small Business Relief Fund, which provides grants to Arizona’s smallest, locally owned enterprises.
The Pediatric Healthcare Initiative Fund, providing additional financial support to Phoenix Children’s Hospital, qualifying for federal matching equal to four times the amount of the donation.
California, funded organizations include:
SHARP Foundation COVID-19 Fund, established to help provide PPE, ventilators and other critical resources to front-line caregivers. The donation will be matched dollar-for-dollar by a generous gift from The Conrad Prebys Foundation.
UCLA Health COVID-19 Fund, supporting patient and family care, social services, PPE and other equipment for front-line medical professionals, ventilators and supportive services for healthcare workers.
Stanford Medical Center’s COVID-19 Clinical Care Fund, which will go toward increasing care capacity, creating a safer environment, and supporting healthcare providers and related staff to ensure they can effectively assist affected patients.
In Nevada, funded organizations include:
The COVID-19 Emergency Response Fund, supported by the Nevada COVID-19 Response, Relief and Recovery Task Force in partnership with Nevada Community Foundation, aids first responders and healthcare providers, supporting Nevada’s response, relief and recovery efforts.
Workforce Connections - Layoff Aversion Pilot, an initiative, to reimburse small businesses in southern Nevada for a portion of employee wages.
Other monies will be split among other nonprofit and community organizations committed to children’s welfare and learning, family support services and alleviating hunger. These include: St. Mary’s Food Bank (AZ), United Food Bank (AZ), The Duce Food Fight (AZ), YMCA (AZ), Kids Need to Read (AZ), ICM Food and Clothing Bank (AZ), Southern Nevada United Way Emergency Assistance and Community Needs Fund, Public Education Foundation CCSD Technology Fund (NV), Food Bank of Northern Nevada (NV) and Delivering with Dignity, an initiative funded through The Moonridge Foundation (NV).
The $2 million commitment also supports longer-term efforts to strengthen communities and create resilience for low- and moderate-income families, including programs to prevent homelessness, provide continuum of care, and bolster affordable housing and economic development.
Western Alliance Bank
With more than $50 billion in assets, Western Alliance Bancorporation (NYSE:WAL) is one of the country’s top-performing banking companies. The company is again #1 best-performing of the 50 largest public U.S. banks in the S&P Global Market Intelligence listing for 2020, ranks high on the Forbes “Best Banks in America” list year after year and was named #1 Best Emerging Regional Bank per Bank Director’s 2022 RankingBanking study. Its primary subsidiary, Western Alliance Bank, Member FDIC, helps clients realize their ambitions with teams of experienced bankers and mortgage experts who deliver superior service and a full spectrum of customized loan, deposit and treasury management capabilities, including blockchain-based offerings. Business clients also benefit from a powerful array of specialized financial services that provide strong expertise and tailored solutions for a wide variety of industries and sectors. Serving clients across the country wherever business happens, Western Alliance Bank operates individual, full-service banking brands and has offices in key markets nationwide.