Santander Consumer USA Foundation Awards $1.65 Million in Charitable Grants to Continue to Support COVID-19-Related Initiatives

Rhea-AI Summary

Santander Consumer USA Holdings (NYSE: SC) announced a donation of $1.65 million to 29 nonprofits aimed at addressing community needs exacerbated by the COVID-19 pandemic. This funding, distributed through the Santander Consumer USA Foundation, supports vital services such as virtual classrooms, homelessness aid, and childcare. To date, SC has contributed approximately $3 million for pandemic-related support in 2020. Additionally, SC is committed to racial equity and social justice initiatives, with plans for $500,000 over two years towards leadership training and equality programs.

Positive

• Donation of $1.65 million to support 29 nonprofit organizations during COVID-19.
• Total contribution of approximately $3 million in 2020 for pandemic-related initiatives.

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• None.

DALLAS, Oct. 21, 2020 /PRNewswire/ -- Santander Consumer USA Holdings Inc. (NYSE: SC) ("SC"), announced today support of 29 nonprofit organizations with a total of $1.65 million in charitable grants from the Santander Consumer USA Inc. Foundation to fund programs in need of continued resources during the COVID-19 pandemic.

The grants support organizations in the surrounding communities in which SC operates, providing pandemic-related services including: virtual classroom capability, support for homeless residents, childcare services for working parents, clinics and shelters for vulnerable families, and food distribition efforts.

"At SC, we have a commitment to and a continued focus on advocating for our customers, employees and communities at-large in the areas where we do business, especially those most impacted by the pandemic during this great time of need," said Mahesh Aditya, president and CEO of Santander Consumer. "Community support is an integral part of the culture at SC, and as this public health emergency endures, the Foundation will continue to invest in – and partner with – organizations that provide positive social change and economic support to those who need it most."

The grant recipients and the COVID-19-related services they support include:

• Arizona State University (ASU) Entrepreneurship and Innovation (Arizona) - $50,000 to support the existing ASU Entrepreneurship and Innovation "Prepped" program to provide timely and relevant assistance to mobile food-based and primarily minority-owned Phoenix-area small businesses impacted by the pandemic.
• Avance´ (Texas) - $50,000 to provide virtual programming support due to COVID-19 for delivery of evidence-based, two-generation, Parent-Child Education Program to low-income Latinx families.
• Bonton Farm (Texas) - $50,000 to support the transportation program for low-income minority "interns" seeking livable wages during COVID-19, to aid in economic recovery and security.
• Boys and Girls Club Metro Denver (Colorado) - $75,000 to provide a safe space and care for young people.
• CitySquare (Texas) - $50,000 to support service delivery and increased demand for basic need services like access to food, housing and healthcare during the pandemic.
• City Year Dallas/Denver (Texas/Colorado) - $150,000 to support the implementation of Student Success Coaches in underserved schools.
• Commons on Champa (Colorado) - $50,000 to provide workshops, training and cohort-based programs for minority and underserved entrepreneurs at any stage of business creation affected by the pandemic.
• Communities Foundation of Texas (Texas) - $75,000 for the Revive Dallas Fund to support small businesses in downtown Dallas unduly impacted by COVID-19, and $50,000 for the Get Shift Done fund to support shift workers – primarily restaurant focused – as they find new shift work during the pandemic.
• Community Enrichment Center (CEC) (Texas) - $50,000 to support the Empowerment Fund, which provides emergency financial assistance during crisis for participants actively engaged in CEC programs to improve their employment/financial situation.
• Dallas Hope Charities (Texas) - $50,000 for general operational support to cover expenses related to Meals of Hope and Dallas Hope Center for LGBTQ clients impacted by COVID-19.
• Dallas Innovation Alliance (Texas) - $25,000 to support programming and digital learning via mobile wireless Internet for minority and underserved communities during the pandemic.
• Farmers Assisting Returning Military (FARM) (Texas) - $50,000 to support one-acre market and education garden that serves veterans and educates the community about growing food to help address COVID-19 shortages.
• Food Bank of the Rockies (Colorado) - $75,000 to support food distribution.
• Green Flag Mesa – Mesa Community College (Arizona) - $50,000 to provide scholarships for 15 low-income and minority student entrepreneurs to launch new business ventures impacted by the pandemic.
• House of Refuge (Arizona) - $50,000 to support the Adopt-a-Home program for five families, and related financial literacy and career development services during the crisis.
• Impact Ventures (Texas) - $50,000 to assist with programming, research and development, and outreach and facilitation primarily directed toward minority-owned and underrepresented small businesses unduly impacted by the pandemic.
• Junior Achievement (Texas) - $25,000 for operational support and direct costs associated with financial learning curriculum program delivery during the pandemic.
• New Friends New Life (Texas) - $50,000 for general operational support for services to trafficking survivors struggling due to the pandemic burden.
• North Texas Food Bank (Texas) - $50,000 to support food distribution.
• POETIC (Texas) - $50,000 for general operational support to provide trafficked/exploited girls with intensive after care services.
• Save the Family (Arizona) - $50,000 for general operational support to sustain services to 400 homeless and impoverished families with greater needs for care and services due to COVID-19.
• Seed Spot (Arizona) - $50,000 to support programs serving under-represented and minority entrepreneurs in Maricopa County.
• Texas Women's Foundation (TWF) (Texas) - $50,000 for general operational support for services to low-income women and their families affected during this crisis.
• The Dallas Entrepreneur Center (DEC) (Texas) - $50,000 to support minority entrepreneurs impacted by COVID-19.
• United Food Bank (Arizona) - $50,000 to support food distribution.
• United Way Metro Dallas – Social Innovation Accelerator (Texas) - $100,000 to assist nonprofits in growth, development and operating efficiencies.
• Vickery Trading Company (Texas) - $50,000 to support financial empowerment through vocational training for refugee women in Dallas, and employment for five associates during the pandemic.
• Women in Need of Generous Support (WiNGS) (Texas) - $50,000 for general operational support to allow continuation of financial learning curriculum and nurse partnership services during the response and recovery of the pandemic.
• Year Up (Texas) - $75,000 for general operational support and COVID-19 relief to continue serving Opportunity Youth, who are often first-generation students.

"We are incredibly grateful for the generosity of the SC Foundation, which will allow Save the Family to continue providing essential housing and supportive services for homeless and impoverished families in our community," said Jacki Taylor, CEO of Save the Family. "The pandemic is having a disastrous impact in Arizona and across the country, and Santander Consumer's partnership will go a long way toward ensuring our organization can continue to address the needs of struggling families as they arise."

SC has committed approximately $3 million to date in 2020 to support organizations serving vulnerable populations in its communities hit hardest by the crisis. In addition to SC's giving efforts, Santander Group announced earlier this year the mobilization of €100 million worldwide (nearly $109 million US) to fund initiatives to combat the coronavirus. As part of this effort, Santander US is expediting $15 million in charitable giving this year across the U.S. and will provide $25 million in financing to Community Development Financial Institutions (CDFIs).

In addition to pandemic-related community support, Santander Consumer recently joined Santander U.S. in making a multi-year, multi-million dollar financial commitment to address racial equity and social justice in America. Santander Consumers' commitment includes $100,000 to the Equal Justice Initiative and $500,000 over the next two years for leadership training and racial and social equality initiatives.

To learn more about Santander Consumer's community giving, please visit https://santanderconsumerusa.com/our-company/our-community.

About Santander Consumer USA Holdings Inc.
Santander Consumer USA Holdings Inc. (NYSE: SC) ("SC") is a full-service consumer finance company focused on vehicle finance, third-party servicing and delivering superior service to our more than 3.1 million customers across the full credit spectrum. SC, which began originating retail installment contracts in 1997, had an average managed asset portfolio of approximately $61 billion (for the second quarter ended June 30, 2020), and is headquartered in Dallas. (www.santanderconsumerusa.com)

CONTACTS:

Santander US Media Relations                                                         
Laurie Kight                                                                        
214.801.6455                                                                  
mediarelations@santander.us                                   

Santander Consumer USA Inc. Foundation
Suzanne Massey
214.636.1879
Foundation@santanderconsumerusa.com

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SOURCE Santander Consumer USA Inc.

FAQ

What is Santander Consumer USA's recent charitable contribution amount for COVID-19 support?

Santander Consumer USA recently announced a donation of $1.65 million to support COVID-19-related initiatives.

Which organizations are receiving support from Santander Consumer USA's grants?

29 nonprofit organizations are receiving support, focusing on services such as virtual classrooms and homelessness aid.

How much has Santander Consumer USA contributed in 2020 for pandemic-related initiatives?

Santander Consumer USA has contributed approximately $3 million in 2020 for pandemic-related support.

What is Santander Consumer's commitment towards racial equity and social justice?

Santander Consumer has committed to spending $500,000 over two years on leadership training and racial equality initiatives.