BALTIMORE, Aug. 19, 2020 /PRNewswire/ -- Transamerica announced today that the Aegon Transamerica Foundation has approved a grant of $250,000 to United Way of East Central Iowa to support recovery efforts after a powerful line of storms, known as a derecho, swept through the Midwest on August 10. The storm caused significant damage to homes and buildings and left more than a million people without power. Cedar Rapids—home to many Transamerica employees—was among the hardest-hit areas.
The Aegon Transamerica Foundation's work in Cedar Rapids is consistent with its mission to support the communities where the company's employees live and work. Transamerica has supported United Way of East Central Iowa for many years, including a recent contribution of $50,000 toward the organization's COVID-19 CARE Fund. United Way has proven to have the necessary resources to direct timely assistance to where it is needed most, and the ability to help speed the recovery of the communities hardest hit by the storm.
Transamerica will also match up to $250,000 in employee donations made to the East Central Iowa chapter of United Way. This effort is in addition to the company's annual matching contributions program for employees who wish to donate to the United Way.
"Transamerica has long been a part of the Cedar Rapids community and our hearts go out to those affected by this devastating and unexpected storm. We are proud to support United Way of East Central Iowa as they assist Iowans who are now struggling as a result of the derecho," said Jay Orlandi, Chief Operating Officer for Transamerica. "Our support of recovery efforts in Cedar Rapids reflects our values as a company and demonstrates our profound commitment to our communities. Our employees in Cedar Rapids have shown incredible resiliency in the face of such great adversity, and we are grateful for their strength and patience as we move through this together."
With a history that dates back more than 100 years, Transamerica is recognized as a leading provider of life insurance, retirement and investment solutions, serving millions of customers throughout the United States. Recognizing the necessity of health and wellness during peak working life, Transamerica's dedicated professionals work to help people take the steps necessary to live better today so they can worry less about tomorrow. Transamerica serves nearly every customer segment, providing a broad range of quality life insurance and investment products, individual and group pension plans, as well as asset management services. In 2019, Transamerica fulfilled its promises to customers, paying more than $50 billion in insurance, retirement, and annuity claims and benefits, including return of annuity premiums paid by the customer. Transamerica is headquartered in Baltimore, Maryland, with other major operations in Cedar Rapids, Iowa and Denver, Colorado. Transamerica is part of the Aegon group of companies. Based in the Netherlands, Aegon is one of the world's largest providers of life insurance, pension solutions and asset management products, operating in more than 20 markets worldwide. For the full year of 2019, Aegon managed over $1 trillion in revenue generating investments. For more information, please visit www.transamerica.com.
About United Way of East Central Iowa
United Way of East Central Iowa (UWECI) is a nonprofit organization and the second largest United Way in Iowa. Together, UWECI and its partners serve Benton, Cedar, Iowa, Jones, and Linn Counties to help meet the community's most critical needs in education, financial stability, and health. For more information, visit www.uweci.org.