As households continue to face high electric bills due to global energy prices and high temperatures, EPB invested $150,000 into United Way of Greater Chattanooga’s Bridge Fund, matched by TVA, for a joint partnership of $300,000 to provide neighbors utility and rent assistance. The investment is EPB and TVA’s largest investment in the fund to date.
“As the cost of essentials remains high, people already living paycheck to paycheck are squeezed even tighter to meet their monthly obligations,” said David Wade, EPB president and CEO.
“Our neighbors continue to need help, and we’re proud to work with TVA and the United Way to support them through the Bridge Fund.”
According to a Bankrate survey, more than half of Americans are not prepared to cover three months of expenses in an emergency; 25 percent report having no emergency fund. United Way’s Bridge Fund provides direct support for those who find themselves in a moment of immediate need for food, health services, transportation, crisis relief, housing, utility payments or childcare.
“Though we hoped for economic recovery to gain momentum beyond the pandemic, new forces continue to make it difficult for some to make ends meet,” added Lesley Scearce, CEO & president of United Way of Greater Chattanooga. “Confronting these challenges would not be possible without the support of our community partners.”
Officials said, "This is EPB and TVA’s third round of support for the Bridge Fund, bringing their total investment to $720,000 since spring 2020. Additionally, EPB employees donated $20,000 in personal contributions to the fund.
"TVA has supported 668 charities with $15.6 million in assistance since the beginning of the pandemic through the Community Care Fund in partnership with local power companies in its seven-state service area. TVA also extended an additional $5 million in matching funds through fiscal year 2022."
“We are proud to partner with EPB and the United Way to support our friends and neighbors,” said Jeff Lyash, TVA president & CEO. “The United Way Bridge Fund provides direct support and resources to those who need it most.”
Formerly known as Restore Hope, United Way of Greater Chattanooga created the Bridge Fund in 2020 to support the needs of those directly impacted by the COVID-19 pandemic. Since then, it has:
• Raised $1.3 million to assist 1,208 households, including
o 1,764 adults
o 1,623 children
• Supported 14 Chattanooga nonprofit agencies, including La Paz, Boys and Girls Club of Chattanooga, Jewish Federation of Greater Chattanooga, Rock Bridge Community Church, Helen Ross McNabb Center, Clinica Medicos, Bethlehem Center, Chattanooga Area Command, Northside Neighborhood House, Partnership for Families, Children and Adults, Signal Centers, United Way of Rhea County and the Walker County Heartbeat Fund.