How Commonwell is helping Canadian communities bounce back
Read more: Commonwell Mutual launches new $1 million charity project
Commonwell created a new philanthropy initiative L.E.A.F (Learning and Engagement Accelerator Fund) to help build and update facilities or community programs, which received over 120 online applications requesting over $5 million in L.E.A.F fund grants in December.
Twenty-one (21) community projects have been selected and funded by the initiative, including upgrades to sports areas, refreshing public library technology, a community fridge expansion, and launching programs to help build careers.
“We couldn’t think of a more important way to give back to our communities than by supporting these important local causes that give residents food, exercise, education and entertainment,” said Tim Shauf, CEO of Commonwell.
Being a mutual group, connection to communities has always been a big part of the Commonwell culture, and investing in philanthropic initiatives that create a rippling effect is incredibly important to the team.
“We can’t solve every problem, but we believe we need to step up, do our part and stay consistent with our values,” he said. “We were able to support some great initiatives, but there are still other opportunities out there that are still in need.”
Engagement has been so difficult for communities, being physically distanced from each other but there is a light at the end of the tunnel with initiatives such as L.E.A.F where everyone can look forward to the improvements that are waiting for them when all pandemic restrictions are lifted.
“The pandemic has generated community in a different way. There’s virtual aspects but we know it’s a temporary situation,” Shauf explained. “Community building initiatives, education and support programs are long-term needs, making this a good time to focus on funding those efforts.”
Making sure that these projects will having a lasting impact and help create resiliency for a community was top of mind for the mutual group, and the exciting 21 projects selected are anticipated to be completed over the course of 2022.
Countless Canadian insurance companies already have robust philanthropy efforts, but the pandemic is forcing leaders to rethink how high they can strive.
“If we stop and think about it, there’s more that can be done” he said. “We need to think about how our communities have been impacted. There was already a need prior to the pandemic but now that need is much stronger.”
When it comes to philanthropy, Commonwell is punching well above its level, and the entire industry should be looking to move up a weight class or two this year.
“We’ve been motivated because of the unique needs of the pandemic, which creates a message for others to challenge themselves, and think deeply as to what they can do,” he noted. “We’ve made the choice to support some key opportunities, but the reality is, there are a lot of other unique needs that has arisen in Canadian communities recently.”
Read next: Putting others FIRST in the coronavirus pandemic
Shauf mentioned that there have been creative and innovative solutions that his team has come up with in trying to help communities cope with the pandemic, facilitating a stronger sense of community within the organization itself.
“Connecting to the community and engaging in initiatives such as L.E.A.F helps us internally and shows our entire team that we are not forgetting our neighbours,” he continued. “We have been around for over 125 years and plan to be committed to our communities for years to come.”
