Truist pledges $25 million toward coronavirus relief efforts, helping small businesses

Truist pledges $25 million toward coronavirus relief efforts, helping small businesses
Truist unveiled its new logo, which incorporates "Truist Purple, the defining color of the new brand, is the combination of heritage BB&T burgundy and SunTrust blue." The two "T"s in the logo are said to represent Touch + Technology. (Truist/Truist)

Truist Financial announced a major contribution to help out organizations in the fight against coronavirus.

The bank is pledging $25 million toward medical supplies, basic needs and local charities as well as help with financial hardship.

“Truist cares, and we understand our communities, clients and teammates all need immediate help in this growing crisis. We’re also looking forward to the recovery stages of this pandemic to ensure the nonprofit organizations our communities count on have the funding they need to help our neighbors get back on solid footing,” said Truist chairman and CEO Kelly S. King.

Content Continues Below

The Charlotte-based bank, which formed in the merger between BB&T and Atlanta’s SunTrust, has donated to the following organizations so far:

  • $1 million to Centers for Disease Control and Prevention Foundation
  • $1 million to Johns Hopkins Medicine
  • $3 million to various United Way chapters
  • $2 million to LiftFund and Natural Capital Investment Fund (LiftFund helps businesses in Georgia)

The remaining funds may be used to help families have access to Internet services, partnering with food banks to help low-income students and and helping senior citizens with food and medical supplies.

The bank also is looking into ways to help sponsorship partners whose workers have been impacted. Truist previously donated $250,000 to the Atlanta Braves’ relief fund to help pay stadium workers.

Truist said it will offer extra paid time off, childcare reimbursement and family-care benefits for its employees. Customers meanwhile will have ATM fees temporarily waved until April 15.

The bank will also provide payment relief assistance for those who need it.

More good news:

Channel 2?s Alison Mastranelo went to Truist Park to find out how the Braves hope the fund will continue to grow.