Under #JointlyagainstCorona, Vereinigte Volksbank in the Höxter district has launched a new crowdfunding support program. To this end, Vereinigte Volksbank created a digital donation platform in 2018, where non-profit, regional associations can present their project and collect donations. “In most cases, the project initiators are club members of local sports, carnival, music, riding, cultural or shooting clubs,” explained Marleen Menne, the employee responsible for crowdfunding and donations.
“In the current situation, it is more important than ever to show solidarity and, in keeping with our cooperative motto “Many can do more”, to strengthen social interaction in the Höxter district. That is why we support projects of charitable aid organizations such as the Tafel, the homeless aid, the blood donation service, or the Diakonie with a special support program. Every project starts on our crowdfunding platform with a bonus of $1,085 (€1,000) and every additional donation received is doubled up to a maximum of $27 (€25). We do this until a total donation amount of a maximum of $5,420 (€5,000) is reached – for donations over $27 (€25) we also add $27 (€25),” happily emphasized Paul Löneke, Chairman of the Board of Management of Vereinigte Volksbank.
Read more about Volksbank’s crowdfunding support program to help associations in the Höxter district cope with the corona crisis, and get free access to the latest financial news from around the world with the Born2Invest mobile app.
Some requirements must be fulfilled
To be able to submit a Corona aid project on the crowdfunding platform www.v-vb.viele-schaffen-mehr.de, certain requirements must be met. The most important is that the project must benefit people affected by the current crisis. There are many examples, ranging from “meals on wheels” for the homeless or telephone counseling to the purchase of protective equipment for the German Red Cross. In addition, it must be a non-profit institution with its headquarters in the business area and an account at Vereinigte Volksbank.
In order to ensure that the collected donations reach the required location as quickly as possible, the term is being shortened from 90 to 45 days. The well-known “all or nothing” principle will be suspended. This means that every euro counts and benefits the project. Aid projects can be submitted until June 30th, 2020. The use of the platform is free of charge and easy to use for both the project starter and the donor.
“Making a difference together in the region”
“With our limited crowdfunding support program #jointly againstCorona we want to support people in need who depend on our local charitable institutions. Because one thing is clear: we can only survive such a crisis if we join forces and work together. In this way, we can all make a difference in our region,” explained Frank Golüke, Head of Private Customer Care at Vereinigte Volksbank.
“With the new development program, we would like to make our contribution in solidarity and assume responsibility together with the citizens. Because only with the support of each individual can the full potential of crowdfunding be tapped. An idea that is based on our basic cooperative idea “What one man cannot do, many can do” and has already proven its worth with the introduction of the platform in 2018,” added Paul Löneke.
Since the launch of the crowdfunding platform, more than 3,800 supporters have collected almost $326,000 (€300,000) for 48 projects. In the meantime, the local Volksbank has spent almost $135,600 (€125,000) on co-funding the associations. Due to the current situation, only Corona aid projects and not the usual association projects will be accepted temporarily.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Neue Westfalische, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
CrowdFundMe starts the placement of minibonds and prepares its first emissions
The Italian equity crowdfunding portal Crowdfundme, listed on Aim, announced that it is preparing the minibond issues of Hal Service...
Bitcoin volume has increased massively
On June 2nd, the Bitcoin price surprised with a jump above the $10,000 mark. The most recent study published by...
Hyloris will be listed on Euronext Brussels
The Liège-based biotech company, Hyloris created by Stijn Van Rompay has just unveiled its intention to be listed on Euronext...
Naturgy redoubles its efforts in ESG and sets environmental objectives for 2020
Naturgy plans to reduce the CO2 intensity of its electricity generation by 22%. 34% of its generation capacity will be...
Bitcoin miners sell more cryptocurrencies than they generate
According to the on-chain analysis portal ByteTree, Bitcoin miners sold 11% more BTC last week than they generated in the...
Featured6 days ago
Why the Fintech sector in Italy has to be further developed
Crypto7 days ago
How is cryptocurrency different from fiat currency?
Crypto6 days ago
The Monero software update is ready to be used by miners
Africa6 days ago
Crowdfunding seen as an innovative post-crisis financing mechanism in Tunisia