In response to many immediate needs due to the coronavirus, First Interstate Bank has contributed $25,000 to the South Dakota Community Foundation (SDCF) for seven (7) community savings accounts (CSA) in western South Dakota. The funds will be distributed between the CSAs in Sturgis, Lead/Deadwood, Belle Fourche, Spearfish, Custer, Wall and Hot Springs.
CSAs benefit a specific community or region. Grants are awarded at the recommendation of a local board to benefit various charitable causes and groups. The First Interstate Bank Foundation continued the legacy originally started by Paul and Muffy Christen when they purchased the First Western Banks, by issuing a one-time challenge to communities where they had a presence from 2010-2014. The communities needed to raise $10,000 per year to receive $10,000 annually from the First Interstate Bank Foundation and when accomplished, SDCF added $25,000 to each community fund.
“First Interstate Bank is proud to respond to the needs in communities our banks serve,” said Shawn Rost, First Interstate Bank South Dakota Market President and SDCF Board Member. “With the assistance of our CSA partners in seven key communities, we are confident the nonprofits will receive financial resources to address the increasing needs resulting from the COVID-19 crisis. The long-standing relationship with the South Dakota Community Foundation creates the perfect opportunity to provide immediate assistance where needed.”
Last month, in efforts to aid communities as they address local needs due to the coronavirus outbreak, the SDCF announced $250,000 in matching funds to be distributed to 80 partner CSAs across the state of South Dakota. Through April 30th, more than $80,000 was provided to nearly half of the CSA partners. Funds were distributed to food pantries, backpack programs, senior meals, economic development, personal protective equipment, and telehealth services, among many others.
“As a statewide community foundation, we work to serve and strengthen communities across South Dakota every day,” said Stephanie Judson, SDCF President & CEO. “This generous gift from First Interstate Bank allows us to continue to mobilize our local boots-on-ground efforts in western South Dakota. We are grateful for the long-standing support of First Interstate Bank.”
About the SDCF
SDCF is a public non-profit organization established in 1987. SDCF, with offices in Pierre, Rapid City, Sioux Falls and Aberdeen administers over 980 funds benefiting hundreds of charitable organizations annually. The Foundation distributed nearly $18 million in grants in 2019 which made a tremendous difference in communities statewide. This would not have been possible without the generosity of our donors. If you have a specific cause you would like to support or would prefer to give for the general good of our state, please visit https://sdcommunityfoundation.org/for-donors/ to learn more or call 1-800-888-1842.
About First Interstate
First Interstate is a community bank headquartered in Billings, Montana, delivering best-in-class banking and Wealth Management services throughout Idaho, Montana, Oregon, South Dakota, Washington, and Wyoming. With more than 150 offices, First Interstate enhances the communities it serves through an innovative corporate philanthropy program, which includes donating a portion of Company profits, matching employees’ personal financial contributions, and donating $10 per hour for volunteer efforts made at qualifying organizations. To learn more, please visit www.firstinterstate.com.