Truist Foundation Commits $500,000 for Hurricane Idalia Relief

CHARLOTTE, N.C., August 29, 2023 /3BL/ - As Hurricane Idalia rapidly accelerates and makes its way towards land, Truist Foundation announced it will donate $500,000 to support relief and recovery efforts for communities across the Florida Gulf Coast and Southeastern Seaboard impacted by the storm. The funding will be dispersed between the American Red Cross, Center for Disaster Philanthropy and United Way.

This grant is in addition to the $1 million Truist Foundation previously donated to the American Red Cross Annual Disaster Giving Program earlier this year. Through this program, the Red Cross is equipped to deploy immediate assistance, such as food, shelter, comfort kits and other relief supplies, to families and individuals in communities impacted by extreme weather events such as Hurricane Idalia.

“As Hurricane Idalia nears landfall, we stand ready to support our teammates, clients and communities who may be impacted by this storm,” said Lynette Bell, president of Truist Foundation. “Truist Foundation is committed to working with our disaster partners to address critical housing, health and hunger-related needs that arise. Our goal is for our investment to provide aid at a time of need to help lessen the impact of this potentially devastating storm.”

Truist Foundation recognizes that recovery will take time following a storm of this magnitude, so a portion of the $500,000 donation will be focused on medium- and long-term community recovery. Funds will support needs such as rebuilding public infrastructure, homes and livelihoods; offering mental health services; and addressing other challenges identified as recovery efforts progress.

“While the full impact of Hurricane Idalia is unknown, we recognize that supporting relief efforts in advance is one way we can demonstrate our care for our teammates, clients and the communities we serve,” said Tony Coley, group regional president for Truist. “Through our financial commitment and partnerships, Truist will be there to help our neighbors rebuild as quickly as possible while living out our purpose to inspire and build better lives and communities.”

The foundation is also helping to ensure there is financial assistance available to Truist teammates in the path of the storm through its One Team Fund. Now through Sept. 15, 2023, Truist Foundation will double its match, contributing $2 for every $1 teammates donate to the Fund. The One Team Fund provides financial assistance to help teammates through unexpected hardship, such as natural disasters like Hurricane Idalia.

About Truist Foundation

Truist Foundation is committed to Truist Financial Corporation's (NYSE: TFC) purpose to inspire and build better lives and communities. Established in 2020, the foundation makes strategic investments in nonprofit organizations to help ensure the communities it serves have more opportunities for a better quality of life. Truist Foundation's grants and activities focus on building career pathways to economic mobility and strengthening small businesses. Learn more at Truist.com/Foundation. 

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