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BNY Mellon Aids Local Families through Dollar Energy Fund Funds Leveraged to Help Restore Service for Households Facing a Utility Crisis
PITTSBURGH,July 18, 2011 – BNY Mellon, the global leader in investment management and investment servicing, will provide $150,000 through its Powering Potential charitable giving program to support Dollar Energy Fund’s Hardship Program during its 2011-2012 program year. BNY Mellon’s support will provide direct utility assistance to low-income residents of southwestern Pennsylvania, helping more than 2,600 individuals in approximately 860 families. All funding from BNY Mellon will be used to leverage a dollar-for-dollar match from partnering utility companies, resulting in $300,000in utility assistance. “BNY Mellon’s support of this fund is so crucial,” said Cindy Datig, Chief Executive Officer, Dollar Energy Fund. “Without such help, those with the greatest needs may be without utility service during times when temperatures can pose serious health risks.” BNY Mellon has supported the Dollar Energy Fund’s Hardship Program for the past three years, investing more than $600,000which includes matching funds. “After April, Dollar Energy Fund is one of the few places qualified individuals in our communities can turn for utility assistance,” said Vince Sands, Chairman, BNY Mellon of Pennsylvania. “Our support empowers individuals and creates a safety net.” The Hardship Program is designed to provide services for families that do not qualify for other utility assistance programs or require more support than the federal Low-Income Home Energy Assistance Program can provide. The Fund notes that for these individuals to maintain or restore their basic gas, electric and water services, Dollar Energy Fund collaborates with 13 utility partners in Pennsylvania. Last year, more than 61% of the Hardship Program’s dollars assisted households in southwestern Pennsylvania, representing 8,901 grants exceeding $2.8 million. Without this assistance, approximately 24,680 individuals may have faced this past winter without utility services. As well as matching grant donations, utility companies cover Dollar Energy Fund’s administrative costs. Because of this, 100 percent of donations go directly to a family in need through a utility assistance grant. Candidates may receive up to three of these grants per year: one for gas, one for electric and one for water. The program is designed to help lead individuals toward self-sufficiency by teaching them to become more responsible rate payers. This charitable support is part of BNY Mellon’s “Powering Potential” program, the company’s philanthropic focus on helping people in need by concentrating on basic needs and workforce development. Throughout the year, BNY Mellon works with its community partners to provide food, clothing and housing assistance to those who require immediate help. The company’s workforce development investments are designed to improve access to employment through job training, education, mentoring and skills development. For more information or to learn more about BNY Mellon’s commitment to corporate social responsibility visit www.bnymellon.com/csr. BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client focused team. It has $25.5 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.7 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE:BK). Additional information is available at www.bnymellon.com. *****
Published on Feb 20, 2012
“BNY Mellon’s support of this fund is so crucial,” said Cindy Datig, Chief Executive Officer, Dollar Energy Fund. “Without such help, those...