Redstone Federal Credit Union announced recently that it will donate $2 million to the Boys & Girls Clubs of North Alabama to support its capital campaign.
The contribution is the largest single gift ever awarded to the North Alabama organization. It will be paid out over five years.
“We see this investment as another way to improve the futures of youth and families who live in the areas that we serve,’’ said Joe Newberry, Redstone’s President and CEO.
“So many success stories have come out of the Boys & Girls Clubs and this gift will create opportunities for even more. This organization continues to be a catalyst for positive change in the community, which is also one of our guiding principles,’’ Newberry said.
Redstone’s $2 million investment will support a new North Huntsville location, build a new Center for Advancement in Athens, renovate and equip a Center for Advancement in Decatur, and build a multi-purpose facility in Scottsboro.
Patrick Wynn, Executive Director of BGCNAL, said he expects the new buildings and added resources to serve an additional 950 students. The organization currently serves about 5,000 youth annually.
“This is a transformational gift from Redstone,’’ said Wynn. “The future is bright here in the Huntsville area. We want to make sure that the Boys & Girls Clubs continue to keep pace with the needs of our youth and make sure their futures are equally as bright,’’ Wynn said.
Redstone utilizes a special investment account, authorized by the NCUA – its federal oversight agency – to fund these types of large charitable gifts. These contributions do not impact member giveback.