Atlanta Mayor Keisha Lance Bottoms is partnering with Georgia’s Own Foundation to distribute the first $250,000 installment of the City of Atlanta’s commitment to supporting its contract employees who have experienced lost income and financial hardship due to the Coronavirus pandemic.
Bank On Atlanta member institution Georgia’s Own Credit Union will administer the program. Program managers from the City of Atlanta and Georgia’s Own will manage the development, operations, and wrap-up stages for the program. They will meet at least twice monthly to assess program performance, make necessary adjustments and communicate status to stakeholders.
“This is a promise delivered to Atlanta workers who are bearing the brunt of the financial impacts of COVID-19,” Bottoms said. “We are grateful for the partnership of Georgia’s Own in helping to facilitate this program and enabling the City to provide assistance to affected City contract employees as quickly and efficiently as possible.”
This effort comes as part of the City’s commitment to providing $7 million in relief funds to support food security efforts for students and seniors and aid City workers, workers of the City’s direct contracts and area small business.
The City of Atlanta will make up to $1.5 million in donations to the Georgia’s Own Foundation, a 501(c)(3) organization. Those funds will then be distributed as tax-free grants by the foundation to eligible hourly contract workers.
The program will provide recipients with a one-time payment of $2,000 to cover living expenses, augmenting programs such as the Coronavirus Aid, Relief and Economic Security (CARES) Act. The recipients of these grants are typically hourly employees with an annual income between $20,000 and $40,000 who are employed through a City contract.
The City of Atlanta will be working directly with its contracted businesses to build a list of those who qualify for the program and to contact those eligible individuals, a spokesperson said.
Georgia’s Own Credit Union will provide the systems and staff resources to manage and operate the program, donating back half of the administrative overhead costs of the program. Georgia’s Own has also provided a secure online application platform for workers to request grants.
“We have seen firsthand the economic impact this pandemic has caused for so many in our community and have been looking for ways to help those most affected,” said Dave Preter, CEO of Georgia’s Own Credit Union. “We’re honored the City chose us as its partner to launch this program and look forward to providing critical financial support to city employees.”
Georgia’s Own Credit Union was chosen to distribute the funds because of its Bank On Atlanta partner status and 86-year history in the City of Atlanta.
The Bank On Atlanta program was established by the City of Atlanta in 2017 as a way to help serve the nearly 7.5 percent unbanked and 28 percent underbanked members of the community.