PenFinancial Credit Union Charitable
Donations/Sponsorship Policy

Click here for a PDF Version of the Application form.
Click here to apply online today!

General Overview

PenFinancial Credit Union is committed to being a partner in the communities we serve. By helping our communities succeed, we are contributing to the success of our members and potential members. These guidelines will not cover every possibility, special need or opportunity and PenFinancial may make exceptions while considering the purpose for making contributions.

Donations and community sponsorships are for the purpose of providing assistance within the communities in which we operate. We place a strong emphasis on education and have a strong desire to enhance the lives of those in need and to promote strong communities. We are committed to playing an active role in co-operation with other community minded organizations and individuals in furthering the well-being of our communities.

Donations/Sponsorship Guidelines

PenFinancial believes that “best fit” opportunities are those that reach a broad spectrum of residents in our communities, with concentration in the following primary areas (in no order of importance) positively impacting:

• Health and wellness
• Youth and education
• Charitable and/or civic organizations, agencies and activities
• PenFinancial members and employer groups

All supported events must be significant to the membership and most importantly the community. PenFinancial Credit Union will participate in initiatives which encourage the economic and social well-being of the communities in which we serve.

Requests for donations or sponsorships are reviewed under the following guidelines:

Is the event held or will the money be spent within our region? Provincial, National and International requests will be considered when such organizations do not operate a local branch and the cause they support falls within the guidelines of this policy.

Does the organization have a record that demonstrates wise use of donated funds?

Is the organization charitable and recognized by CCRA, authorized to issue tax receipts? Donations/sponsorship will be considered for those organizations who are not registered as charitable but they must meet other criteria as described in the policy i.e. youth sports teams and community events.

Does it provide economic value or contribute to the social well-being of our region?

Does the event or donation provide positive and favorable marketing value? Does it reach our target audience?

Does the club or organization conduct or intend to conduct business with us?

Is a current staff member actively involved in this club or organization?

Has the club or organization been previously granted a donation/sponsorship? A donation/sponsorship will only be considered once per club or organization during each calendar year. Special circumstances may be considered on an individual basis.

PenFinancial Credit Union will not make contributions for:

• any purpose known to involve matters of public controversy or any purpose deemed to be inconsistent with the values held by our general membership.
• individuals unless the individual is requesting sponsorship for a charitable fundraising event for an organization not previously supported in a calendar year.
• groups advocating a particular social, political or economic ideology.
• any purpose for which the event name or associated name may be construed as being of a negative or questionable nature.

Types of contributions that PenFinancial Credit Union will be involved in include the following:

• Monetary Donations
• Monetary Sponsorships (usually receiving public recognition in return)
• Time Donations
• Other Resources i.e. promotional items, services in-kind

PenFinancial receives dozens of requests each month and must decide in a fair and unbiased manner which events are a “best fit” and able to support.

PenFinancial Volunteers and Staff members are, of course, encouraged and entitled to make personal contributions to the organizations that they deem worthwhile.  They are not, however, entitled to use the credit union’s name in any way when making such personal contributions unless the pre-approval of the Board  of Directors is obtained.

Consideration of requests are subject to available funds.

Approval Process

1. Approval of incoming requests is the responsibility of the Development Committee, who shall consider the recommendations of the Marketing & Business Development Manager and Branch and other PenFinancial Managers. 
   

2. The Marketing & Business Development Manager will make an initial review of all requests to ensure that they meet the criteria as set out in the policy and will only consider written requests.
   
   
3. he Marketing & Business Development Manager then makes recommendations to either support or decline requests, to the Development Committee.  Majority support of the recommendations moves the requests on to the Board for final approval. 
   
   
4. Should the Board support the decision of the Development Committee, the applicants may be notified immediately following the meeting in which the decision was made.  All applicants will be notified of decisions both approvals and declines. 

In an effort to maintain efficiency in the approval process, requests of up to $350 that meet policy criteria, subject to available funds, can be approved and granted by the Marketing & Business Development Manager.  Requests, with a recommendation from the Marketing and Business Development Manager, between $350 and $1,000 may be approved and granted by the Development Committee.  However, all requests in excess of $1,000 can only be approved with a recommendation from the Development Committee and granted by the Board.

All requests, approved and pending must be included on the monthly report to both Levels of the Development Committee. A subsequent report shall be provided to the Board.

Donations/Sponsorship Budget

Community donations and sponsorships shall be granted in each calendar year that follows a year during which the Credit Union earned a profit. The aggregate annual limit is 20% of the Marketing Budget that is determined at .1% of assets of the credit union during the previous year. The amount shall be specified within the budget of the credit union.

Distribution of annual donations/sponsorship budget

Notice of Policy and Availability of Applications

The donations/sponsorship policy will be available for review on-line. PenFinancial’s membership in the Imagine Company will also be listed, with a brief explanation of the company and what it means to be a member. An on-line and downloadable version of the application will be available for completion as well, branches will be given hard copy supplies.

How to Apply

Requests for donations/sponsorships should be made in writing at least one month before your organization needs assistance.

All requests for donations/sponsorship must include a completed “Application for Donation/Request for Sponsorship”. You may complete the online application or download and send a completed application via fax to (905) 735-2983 or mail the application to:

PenFinancial Credit Union
Attn: Marketing & Business Development Manager
247 East Main Street
Welland, ON
L3B 3X1