The Atlantic Federal Credit Union recently facilitated $50,000 in grant funding across nine local nonprofit organizations through the Federal Home Loan Bank of New York (“FHLBNY”) Small Business Recovery Grant Program (“SBRG”).
Among those receiving that money was The Interfaith Food Pantry of the Oranges, which helps food-insecure residents of Orange, East Orange and West Orange, and the United Way of Greater Newark, which supports 14 municipalities across Essex and Hudson counties.
The SBRG was created to support the financial security of organizations that face economic challenges due to various factors such as inflation, supply-chain constraints, the rate environment, as well as rising operating costs.
“Our Small Business Recovery Grant Program positions the FHLBNY to join with our members to provide support to the institutions that create opportunities and drive communities forward,” said Randolph C. Snook, President and Chief Executive Officer of the Federal Home Loan Bank of New York. “We are grateful to partner with The Atlantic on these grants, and thank the recipients for their continued work to strengthen communities across Essex and Union counties.”
“Thank you to the Federal Home Loan Bank of New York for their partnership and the opportunity to extend recovery grants to local nonprofits serving our communities,” said Anthony Mero, chief executive officer of The Atlantic. “SBRG funding empowers our recipients to fulfill their missions and expand their reach, uplifting neighbors throughout Essex and Union counties. These grants help ensure residents in need have access to food, clothing, and other essential resources that support dignity and stability.”
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