OceanFirst Bank Secures $50,000 in Small Business Recovery Grants from Federal Home Loan Bank to Benefit Ten Local Nonprofit Organizations
OceanFirst Bank, a subsidiary of OceanFirst Financial Corp. (NASDAQ:OCFC), has secured $50,000 in Small Business Recovery Grants from the Federal Home Loan Bank of New York (FHLBNY) for ten local nonprofit organizations. The grants aim to assist organizations facing economic challenges due to various factors, including inflation and rising energy costs. This year's grants focus on addressing hunger and food insecurity in New Jersey, where nearly one million people are food insecure, a 22% increase from the previous year.
Each of the ten selected organizations received a $5,000 grant. These include Cathedral Soup Kitchen, Community Services Inc of Ocean County, Freehold Area Open Door, Friendly Fridge, Meals on Wheels Mercer, Meals on Wheels of Greater New Brunswick, Mercy Center, Move for Hunger, Love Ministries Outreach, and Lunch Break. The grants will support various initiatives, from providing meals to maintaining efficient kitchen operations for food-insecure families and individuals.
OceanFirst Bank, una sussidiaria di OceanFirst Financial Corp. (NASDAQ:OCFC), ha ottenuto $50.000 in Piccole Sovvenzioni per il Recupero Aziendale dalla Federal Home Loan Bank di New York (FHLBNY) per dieci organizzazioni non profit locali. Le sovvenzioni mirano ad assistere le organizzazioni che affrontano sfide economiche a causa di vari fattori, tra cui inflazione e aumento dei costi energetici. Le sovvenzioni di quest'anno si concentrano sulla lotta contro la fame e l'insicurezza alimentare nel New Jersey, dove quasi un milione di persone si trova in situazione di insicurezza alimentare, con un aumento del 22% rispetto all'anno precedente.
Ognuna delle dieci organizzazioni selezionate ha ricevuto una sovvenzione di $5.000. Queste includono Cathedral Soup Kitchen, Community Services Inc di Ocean County, Freehold Area Open Door, Friendly Fridge, Meals on Wheels Mercer, Meals on Wheels di Greater New Brunswick, Mercy Center, Move for Hunger, Love Ministries Outreach e Lunch Break. Le sovvenzioni supporteranno varie iniziative, dalla fornitura di pasti al mantenimento di operazioni efficienti in cucina per famiglie e individui in difficoltà alimentare.
OceanFirst Bank, una subsidiaria de OceanFirst Financial Corp. (NASDAQ:OCFC), ha asegurado $50,000 en Subvenciones de Recuperación para Pequeñas Empresas de la Federal Home Loan Bank de Nueva York (FHLBNY) para diez organizaciones no lucrativas locales. Las subvenciones buscan ayudar a las organizaciones que enfrentan desafíos económicos debido a varios factores, incluidos la inflación y el aumento de los costos de energía. Las subvenciones de este año se centran en abordar la hambre y la inseguridad alimentaria en Nueva Jersey, donde casi un millón de personas carecen de seguridad alimentaria, un aumento del 22% con respecto al año anterior.
Cada una de las diez organizaciones seleccionadas recibió una subvención de $5,000. Estas incluyen Cathedral Soup Kitchen, Community Services Inc del Condado de Ocean, Freehold Area Open Door, Friendly Fridge, Meals on Wheels Mercer, Meals on Wheels de Greater New Brunswick, Mercy Center, Move for Hunger, Love Ministries Outreach y Lunch Break. Las subvenciones apoyarán diversas iniciativas, desde la provisión de comidas hasta el mantenimiento de operaciones eficientes en la cocina para familias e individuos que sufren inseguridad alimentaria.
오션퍼스트 뱅크(OceanFirst Bank)는 오션퍼스트 파이낸셜(OceanFirst Financial Corp.)의 자회사로, NASDAQ:OCFC에서 뉴욕 연방 주택 대출은행(FHLBNY)으로부터 지역 비영리 단체 10곳을 위한 $50,000의 소규모 비즈니스 회복 보조금을 확보했습니다. 이 보조금은 인플레이션과 에너지 비용 상승을 포함한 다양한 요인으로 경제적 어려움에 직면한 단체를 지원하는 것을 목표로 합니다. 올해 보조금은 뉴저지에서 거의 백만 명이 식량이 부족한 상황에 처해 있는 배고픔과 식량 불안정 문제 해결에 중점을 두고 있습니다. 이는 전년도에 비해 22% 증가한 수치입니다.
선정된 10개 단체 각각은 $5,000의 보조금을 받았습니다. 여기에는 Cathedral Soup Kitchen, Ocean 카운티의 Community Services Inc, Freehold Area Open Door, Friendly Fridge, Meals on Wheels Mercer, Greater New Brunswick의 Meals on Wheels, Mercy Center, Move for Hunger, Love Ministries Outreach, Lunch Break가 포함됩니다. 이 보조금은 식량 불안정에 처한 가족과 개인을 위한 식사 제공부터 효율적인 주방 운영 유지까지 다양한 이니셔티브를 지원할 것입니다.
OceanFirst Bank, une filiale d'OceanFirst Financial Corp. (NASDAQ:OCFC), a obtenu 50 000 $ en Subventions pour la Récupération des Petites Entreprises de la Federal Home Loan Bank de New York (FHLBNY) pour dix organisations à but non lucratif locales. Ces subventions visent à aider les organisations confrontées à des difficultés économiques en raison de divers facteurs, y compris l'inflation et l'augmentation des coûts de l'énergie. Les subventions de cette année se concentrent sur la lutte contre la faim et l'insécurité alimentaire dans le New Jersey, où près d'un million de personnes sont en situation d'insécurité alimentaire, soit une augmentation de 22 % par rapport à l'année précédente.
Chacune des dix organisations sélectionnées a reçu une subvention de 5 000 $. Cela inclut la Cathedral Soup Kitchen, Community Services Inc du comté d'Ocean, Freehold Area Open Door, Friendly Fridge, Meals on Wheels Mercer, Meals on Wheels de Greater New Brunswick, Mercy Center, Move for Hunger, Love Ministries Outreach et Lunch Break. Les subventions soutiendront diverses initiatives, allant de la fourniture de repas au maintien d'opérations efficaces en cuisine pour les familles et les individus en situation d'insécurité alimentaire.
Die OceanFirst Bank, eine Tochtergesellschaft der OceanFirst Financial Corp. (NASDAQ:OCFC), hat von der Federal Home Loan Bank of New York (FHLBNY) Fördermittel in Höhe von 50.000 US-Dollar für zehn lokale gemeinnützige Organisationen gesichert. Die Zuschüsse sollen Organisationen unterstützen, die aufgrund verschiedener Faktoren, einschließlich Inflation und steigender Energiekosten, wirtschaftlichen Herausforderungen gegenüberstehen. In diesem Jahr konzentrieren sich die Zuschüsse auf die Bekämpfung von Hunger und Ernährungsunsicherheit in New Jersey, wo fast eine Million Menschen betroffen sind, was einem Anstieg von 22% im Vergleich zum Vorjahr entspricht.
Jede der zehn ausgewählten Organisationen erhielt einen Zuschuss von 5.000 US-Dollar. Dazu gehören die Cathedral Soup Kitchen, Community Services Inc des Ocean County, Freehold Area Open Door, Friendly Fridge, Meals on Wheels Mercer, Meals on Wheels von Greater New Brunswick, Mercy Center, Move for Hunger, Love Ministries Outreach und Lunch Break. Die Zuschüsse unterstützen verschiedene Initiativen, von der Bereitstellung von Mahlzeiten bis zur Aufrechterhaltung effizienter Küchenbetriebe für ernährungsunsichere Familien und Einzelpersonen.
- OceanFirst Bank secured $50,000 in Small Business Recovery Grants for ten local nonprofit organizations
- The grants support organizations addressing hunger and food insecurity, a growing issue in New Jersey
- OceanFirst Bank demonstrates community engagement and support for local nonprofits
- None.
Insights
OceanFirst Bank's securing of
This initiative aligns with OceanFirst's strategy to strengthen its reputation and relationships within its market area. By facilitating grants for local nonprofits, the bank is likely to enhance its brand image and potentially attract new customers, particularly in the nonprofit and small business sectors.
From an investor perspective, such community-focused activities can contribute to long-term value creation by fostering goodwill and customer loyalty. However, the immediate financial impact on OCFC's stock price or earnings is expected to be negligible. Investors should view this more as a qualitative indicator of the bank's community standing and operational strategy rather than a significant financial event.
RED BANK, N.J., Oct. 07, 2024 (GLOBE NEWSWIRE) -- OceanFirst Bank N.A. (the “Bank” or “OceanFirst”), a subsidiary of OceanFirst Financial Corp. (NASDAQ:OCFC), has helped ten nonprofit organizations in its market area to apply for and obtain Small Business Recovery Grants totaling
The ten grants awarded this year will assist nonprofit organizations committed to addressing hunger and food insecurity. Nearly one million people in New Jersey are food insecure, a
“The Small Business Recovery Grant Program is a great opportunity for OceanFirst Bank to help support our local nonprofit partners and the important work they are doing to aid our communities,” said George Destafney, OceanFirst Bank Chief Community Banking Officer. “We are so pleased to be able to assist ten organizations to receive important resources that will benefit our neighbors struggling with food insecurity. Our congratulations and appreciation to the Federal Home Loan Bank of New York for another successful Small Business Recovery Grant round.”
Under the Small Business Recovery Grant Program, banks such as OceanFirst, which are members of the FHLBNY, identify qualified small-business and non-profit customers who are eligible to receive the grant awards.
OceanFirst Bank facilitated Small Business Recovery Grants of
- Cathedral Soup Kitchen, Camden, NJ
- Community Services Inc of Ocean County, Stafford, NJ
- Freehold Area Open Door, Freehold, NJ
- Friendly Fridge, Bronx, NY
- Meals on Wheels Mercer, Pennington, NJ
- Meals on Wheels of Greater New Brunswick, New Brunswick, NJ
- Mercy Center, Asbury Park, NJ
- Move for Hunger, Neptune, NJ
- Love Ministries Outreach, Rancocas, NJ
- Lunch Break, Red Bank, NJ
“Meals on Wheels is thrilled to receive a
Gwendolyn Love, Executive Director, Lunch Break, added, “The
“Located in the Bronx, a borough with the highest rates of diabetes in the country, the Friendly Fridge BX focuses on rescuing and redirecting healthy foods to share with people from all over the Bronx and Yonkers,” shared Sara Allen, co-founder of Friendly Fridge BX. “With the support of this
OceanFirst Bank N.A., a subsidiary of OceanFirst Financial Corp. founded in 1902 is a
Company Contact:
Jill Apito Hewitt
Director Corporate Communications
OceanFirst Financial Corp.
Tel: (732) 240-4500, ext. 27513
Email: jhewitt@oceanfirst.com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/cd41f568-6efb-4e98-8791-c83bf64cb38a
https://www.globenewswire.com/NewsRoom/AttachmentNg/52084880-5502-4eed-a883-14f65b568b62
https://www.globenewswire.com/NewsRoom/AttachmentNg/25669639-69a1-40d8-953c-75a27a3c5ad1
FAQ
How much did OceanFirst Bank (OCFC) secure in Small Business Recovery Grants?
How many nonprofit organizations received grants through OceanFirst Bank's (OCFC) initiative?
What is the focus of the Small Business Recovery Grants awarded by OceanFirst Bank (OCFC) in 2024?
How much did each nonprofit organization receive from the OceanFirst Bank (OCFC) Small Business Recovery Grants?
