loanDepot donates $2M on behalf of its employees to support individuals and families impacted by COVID-19 nationwide and to assist with continued philanthropic efforts for key partner organizations
This donation brings the total donated by the company to support pandemic-relief efforts to $3M and provides greatly needed financial assistance to more than 3,000 individuals and families this holiday season.
Dec 8, 2020
FOOTHILL RANCH, Calif., Dec. 8, 2020 /PRNewswire/ -- loanDepot Founder and CEO Anthony Hsieh today announced that the company will be donating $2 million this holiday season to support the growing number of families and individuals in need due to the ongoing COVID-19 pandemic as well as several key partner charitable organizations. These donations, made on behalf of the company's employees, brings the total donated in 2020 to support pandemic-relief and philanthropic efforts to $3M.
These charitable contributions align with the company's longstanding commitment "to take care of our house," which includes taking care of its employees as well as the communities in which it lives and serves. Since its founding ten years ago, loanDepot has donated millions of dollars and volunteer hours to charities nationwide.
"Our company wants to help bring relief to those impacted by COVID-19, as well as support the necessary and important efforts of a variety of charities, which have also been affected by this year's challenging conditions," said Hsieh.
Similar to the company's $1M donation in April, this $2M donation will be carefully distributed to provide immediate assistance to local and national relief efforts and ongoing regional and national philanthropic support. This includes:
- $1.5M of financial assistance to more than 3,000 vulnerable individuals and families directly impacted by COVID-19 through unemployment, furlough or other loss of income. This assistance will be provided via $500 emergency payment cards that can be used without restrictions to pay for basic necessities or other needs and administered through the company's charitable network of organizations who are working diligently to support these individuals and families.
- $100K each to five key partner organizations: War Heroes on Water, United Cerebral Palsy of Orange County, Boys and Girls Club of Central Orange Coast, Second Harvest Food Bank and Free Wheelchair Mission. These funds will be used to help support the ongoing initiatives and community work done by these charities.
"As the nation's second largest retail nonbank lender, we have the good fortune of being able to help hundreds of thousands of families every year achieve their dreams of homeownership," added Hsieh. "But with that opportunity comes a responsibility to our employees, our customers and to communities nationwide. This donation is especially important to our employees who want to do whatever they can to support those who are experiencing hardship at this time."
In addition to the $2M donation on their behalf, company employees can increase the total donation with personal contributions. Team loanDepot, as the employee group is called, is well known for its hard work at the community level, with employees regularly participating in a variety of outreach activities and providing ongoing support within their communities.
"The holiday season is meant to be celebrated with the ones we hold dear, and those celebrations will look much different this year," said Hsieh. "We hope that this donation can help provide some joy and bring welcome relief to those who are in the greatest need. That is our holiday wish for the country and for every community."
An innovator since its inception in 2010, loanDepot continues to disrupt the lending industry with its focus on creating the technologies needed to deliver seamless borrowing experiences to its customers. loanDepot debuted the industry's first end-to-end fully digital loan, the mello smartloan™, in 2019. The Company has funded over $275 billion since its founding, and currently ranks as the second largest retail nonbank lender and one of the leading retail mortgage lenders in the U.S. NMLS #17445
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SOURCE loanDepot.com, LLC