U.S. Bank supports organizations like Cara, addressing racial inequities affecting economic mobility
Cara Chicago is one of 48 community organizations awarded a portion of U.S. Bank’s $5M investment.
U.S. Bank has announced $5 million in donations to local communities as part of its $15 million U.S. Bank Foundation Rebuild and Transform Fund, addressing rebuilding in corridors impacted by social unrest and systemic racial inequities in small business, housing, and workforce advancement. The Fund is part of the bank’s previously announced $116 million commitment to address social and economic inequities.
“Our focus is on listening to and learning from community leaders and responding to critical needs,“ said Reba Dominski, Chief Social Responsibility Officer for U.S. Bank. “Today we are proud to share the details of our philanthropic giving to 10 additional markets across the country that historically experience low economic mobility. We are investing in organizations led by people of color and providing general operating funds because we trust community leaders to know how, when, and where to use these funds for the greatest impact.”
Through creating pathways to economic mobility in Chicago and beyond, Cara places people experiencing poverty and homelessness into nearly 1,000 jobs each year, with a 70% average one-year, same-firm retention rate. Cara sees firsthand how COVID-19 has disproportionately impacted communities facing systemic racial inequities, and in response, they provide the necessary support and resources for participants and alumni experiencing furloughs, layoffs, and overall hardship.
Interested in learning the ways in which U.S. Bank is supporting communities across the country? Visit www.usbank.com/community.
Click here to see the full list of community organizations receiving support from U.S. Bank’s $5M investment.