A look at our 2021 charitable giving efforts

We aren’t boastful here at First Utah Bank. Still, we don’t feel there is anything wrong with taking a moment to highlight some of the good we try to do in our community. After all, perhaps one of you out there reading this, may be inspired to give on your own behalf. We understand that many of our business banking and business checking customers in Utah already practice charitable giving and are involved in numerous philanthropic endeavors. That’s why we want to share our work in the spirit of giving.

First, let’s talk about how we got here. In 2020, the bank set up a Committee for Charitable giving, which focuses on community needs for the year and directs where our donations are put to best use. After some deliberation, we decided that in 2021, food insecurity should be where we focus our efforts. Why? Because up to 10% of Utah’s population suffers from food insecurity, which is defined as “the limited or uncertain availability of nutritionally adequate and safe foods or limited or uncertain ability to acquire acceptable foods in socially acceptable ways.”

Now, consider that Utah’s population sits at just over 3.3 million. That means that more than 330,000 people suffer from food insecurity in our state. Here at First Utah Bank, we consider that to be an unacceptable number. Quite frankly, anything over one is unacceptable, but we have to do what we can. So, food insecurity, it was decided, would be where our money went for last year. Let’s dig a little deeper into the dollars, where they went, and how they helped.

In the Spirit of Giving

Opportunities for donations to various organizations meeting the need of food insecurity were identified and donations totaling $160,300 were made in 2021. That represents $60,300 more than our budget of $100,000 per year. We understand there is a lot of need right now as we emerge from a global pandemic. Whether it be rising rents, a lack of jobs, or people experiencing food insecurity, there is a lot of room to help those in need during times like these. Going over budget in our charitable giving was a non-issue for us.

Donations ranged from $2,500 to nearly $40,000, depending on the organization. Our Committee on Charitable Giving had their work cut out for them choosing which organizations most deserved our help. It wasn’t easy, but in the end, we would end up sending money to the following groups and organizations:

• Maliheh Free Clinic: $10,000 to their free clinic efforts
• Utah Food Bank Mobile Pantry: $10,000 with an Eccles matching grant
• Crossroads Urban Center: $5,000 to their food insecurity program
• Neighborhood House: $10,000, donation equals 5,000 meals served
• Nourish to Flourish (Lightspark): $5,000 to local chefs providing meals to those in need
• Communities United Latinx Food Program: $10,000 to their SL County food insecurity program
• For the Kids Organization: $2,500 to their SL County food insecurity program
• Guadalupe School: $5,000 to Summer Preschool and Early Learning programs
• Tabitha’s Food Pantry: $10,000 to their SL food insecurity program
• Refugee and Immigrant Center: $5,000 to their SL County food insecurity program
• Big Brothers/Big Sisters of Utah: $10,000 to their SL County food insecurity program
• ShelterKids: $6,000 to their SL County food insecurity program
• YouthLinc: $5,000 to their SL County food insecurity program
• International Rescue Committee ‘Welcome Home’ Fund: $40,000 to their Afghan Refugee Resettlement Program
• Usana ‘Kids Eat’ Backpack Program: $16,800 to support students with insufficient food in their homes
• The Mountain West Mother’s Milk Bank: $10,000 to support their donor human milk to infants and families program

It took our Charitable Giving Committee quite some time to figure out the best organizations and placements for our money. But, as you can see, we ended up landing on a diverse group of organizations with varied missions working to help disadvantaged communities of many different kinds and sizes.

First Utah Bank Believes in Giving Back

We understand the importance of charitable giving in today’s society. And as a community bank, we want to make sure that our philanthropic efforts are purposed to directly impact the communities in which we live and do business. Salt Lake City, Lehi, and surrounding cities represent the core of our business. As such, it’s our responsibility to give back to those in those communities who have the greatest need.

Put simply, giving back helps us grow as people and as companies and organizations. It teaches us to appreciate what we have and helps us understand and empathize with those who may not be as fortunate as we are. Giving back is an important part of life, and one that we’re proud to represent.

It feels good to know you’ve helped someone, and here at First Utah Bank, that’s what we’re all about. Are you a local business either new or transplanted looking for business banking services in Salt Lake or Utah County? From business checking accounts to SBA loans, we’ve got you covered. Contact us today at 801-308-2273 today learn more.