South Bend-based 1st Source Corp. (Nasdaq: SRCE) is looking to support people affected by COVID-19. 1st Source Bank and the 1st Source Foundation are providing $600,000 in grants to the United Ways of northern Indiana and southwestern Michigan.
The United Ways receiving the funding serve individuals and businesses in 18 counties between the two states. The first grant of $400,000 will be awarded within the next two weeks and will be distributed by the local United Way in each county to organizations “that are doing the most to serve their county residents affected by COVID-19.”
The remaining $200,000 will be distributed in the fall.
“While we are committed to helping individuals, businesses and communities deal with the financial challenges brought on by the virus, we also believe that help needs to be directed at the physical, mental, social and spiritual health of the communities we serve, and the United Way is best equipped to make those decisions,” said Chris Murphy, chief executive officer of 1st Source Bank.
Murphy says the funding is not restricted to being used in any particular county. He says they are meant to be distributed to “those organizations that most help the citizens of the county no matter where the provider of the essential services may be located.”