FirstBank announced a comprehensive effort to help those impacted by the novel coronavirus pandemic, including the launch of its customer assistance program, increased compensation for on-site employees and continued support of Arizona Gives Day and its newly created Nonprofit Emergency Relief Fund.
“We recognize that the global spread of coronavirus has serious financial implications for millions of families,” said FirstBank CEO Jim Reuter. “We want to do what we can to ensure our customers, communities and employees have the resources needed to get through these challenging times.”
As the presenting sponsor of Arizona Gives Day, FirstBank worked with the Alliance of Arizona Nonprofits to promote and fundraise for Arizona’s Nonprofit Emergency Relief Fund. The fund was established to support nonprofits that may experience a drop in revenue due to canceled events and programming from the novel coronavirus pandemic.
“This is an unprecedented time with unknown economic consequences. Estimates indicate that some nonprofit organizations can lose on average 25% in revenue,” said Bryce Lloyd, market president for FirstBank. “We thank all the Arizonans who made a donation to their favorite cause and the Emergency Relief Fund to help our nonprofit community during this difficult time.”
In 2013, FirstBank helped create Arizona Gives Day in partnership with the Alliance of Arizona Nonprofits and has provided consistent support to the campaign for the last eight years. As part of its participation in Arizona Gives Day, FirstBank assists with promoting the campaign as well as providing financial contributions and incentives to participating nonprofits.
FirstBank also indicated that it is in a strong financial position to not only bolster community support, but weather the economic implications brought on by the virus.