A new 'NEED Fund' will financially assist staff during natural disasters, death of a partner, medical conditions, or vehicle accidents
Life is filled with unexpected change. Residents of Upper Dublin recall all too well the Sept. 2021 tornado, as many are still working three years later to make repairs and restore the community. One Fort Washington-based mortgage lender and services has decided to do something to protect its employees from such “surprise” change.
Dr. Joan Frizzel, a former college educator now in retirement, said that she’s lived in Upper Dublin since 1991. She has noticed others her age financially struggling, as she stated in a July Upper Dublin Board of School Directors’ meeting.
“I also know people who, as a result of the tornado, decided that the cost of rebuild with the added cost of taxes, and the trauma from the tornado, made the decision to sell and move,” she said. “In my cul-de-sac, the night of the tornado, only 5 out of 30 homes were livable.”
The financial impacts were great for the small township, and one employer based in the heart of it all said it wanted to make a difference.
Newrez LLC, a mortgage lender and service company, calls itself a “customer-first” organization, aimed at protecting homeowners as they navigate the home-buying journey. But that doesn’t mean it puts employees last.
Newrez announced on Aug. 15 the introduction of the “NEED Fund,” a new emergency relief fund dedicated to providing the company’s employees with financial assistance in times of hardship. Unexpected life changes, such as the 2021 tornado, can impact individuals in several ways. Tragedy strikes, and you are left reeling emotionally, physically, and psychologically. The last thing you’re ready to juggle is the financial devastation these events can have.
Newrez opted to commit to its employees with a financial assistance program that can be put into place in the event of natural disasters, medical crises, or other significant personal hardships, according to the organization. Newrez has partnered with “E4E Relief,” a 501(c)(3) nonprofit in order to fund the NEED Fund, which includes funding from both corporate contributions, as well as voluntary donations from employees.
Some examples of use include natural disasters, such as flooding, tornados, fires, or hurricane damages, the death of a spouse or partner, unexpected medical conditions or care, or even vehicle accidents.
"One of our core values at Newrez is to "care fiercely" – a commitment we make to both our team members and the homeowners we serve,” said Baron Silverstein, President of Newrez. “With the establishment of the NEED Fund, we can deliver important financial support to our employees facing unexpected hardship in their lives or as a result of natural disasters. I am proud to support this initiative and foster a culture of caring fiercely for our people.”
Newrez is located at 601 Office Center Drive, Suite 100, in Fort Washington. For more information, call 888-673-5521 or visit https://www.newrez.com/.
