FORT WASHINGTON, Pa., Dec. 4, 2013 /PRNewswire/ -- Coventry, the pioneer of the life settlement industry, and its employees surpassed the $350,000 mark in donations since formally launching its community service program.
In keeping with its tradition of bringing holiday cheer to the Philadelphia area's neediest families, Coventry is working with Philabundance and Cityteam. This year, Coventry held an employee food drive competition for Philabundance that generated over 600 pounds of food for the Thanksgiving holiday. Additionally, Coventry and its employees are currently partnering with Cityteam to sponsor underprivileged children and their families by purchasing gifts and providing monetary donations this holiday season.
"Our people have always been active in their communities and we saw an opportunity to channel that energy to organizations where a single contribution can change their world. The response has been overwhelming," says Constance Buerger, president and co-founder of Coventry.
Each month, Mrs. Buerger invites employees to nominate local charities that are doing essential work outside of the public spotlight and sponsors a Dress Down Day to support one of the organizations. Coventry offers to match employee contributions two to one as an added measure of support. To date, Coventry has donated to more than 75 organizations including Manna on Main Street, Philadelphia Futures, Ella's Retreat, Laurel House and many more.
Coventry employees have also contributed hundreds of hours of volunteer work. They have conducted six blood drives that delivered over 145 pints to the American Red Cross, planted trees for the Wissahickon Valley Watershed Association, worked with Cradles to Crayons to provide clothing packs for homeless children and made more than 350 sandwiches for a Kensington homeless shelter, in addition to numerous other community service projects.
"Teamwork is one of our core values and community service enables us to work together to support organizations in our area that are doing important work," says Mrs. Buerger. "By coordinating our individual efforts, we are making a tremendous difference in the lives of those who really need the help."
Coventry created the secondary market for life insurance. By uniquely bridging insurance and capital markets, the company pioneered the life settlement industry and opened a new class of longevity-based assets for institutional investors worldwide. Today, Coventry is a global financial services firm leading the development of a robust longevity market. www.coventry.com.