Unum creates $500,000 Social Justice Fund to promote more equity

Staff photo by Erin O. Smith / Rick McKenney, chief executive officer at Unum, poses for a photo at Unum Tuesday Oct. 1, 2019 in Chattanooga, Tennessee.
Staff photo by Erin O. Smith / Rick McKenney, chief executive officer at Unum, poses for a photo at Unum Tuesday Oct. 1, 2019 in Chattanooga, Tennessee.

Chattanooga-based Unum announced Tuesday it is making a $500,000 corporate gift that will be supplemented with employee and company matches to create a Social Justice Fund "to create stronger, more equitable communities."

The insurance giant said the new fund will support organizations working to end racism, discrimination and bias.

"Unum promotes equity for all within our workforce, but it's important we also find ways to promote social justice in our communities," Unum CEO Rick McKenney said in a statement. "This fund goes beyond giving money. It allows our employees to take a stand and get involved in combating racism."

As protests continue around the globe in support of social and racial justice in the wake of the death of George Floyd at the hands of the Minneapolis police, a growing number of companies are creating programs, funds and activities to promote more racial equality and to promote social justice.

Disney pledged last month to give $5 million toward nonprofit organizations advancing social justice, including $2 million to the NAACP. The popular social media platform TikTok said it is donating $3 million from its Community Relief Fund to nonprofits that help the black community deal with COVID-19 and another $1 million toward "fighting the racial injustice and inequality that we are witnessing in our country." Other social media companies, including Twitter, Apple, Facebook and YouTube have also pledged to support social justice projects.

At Unum, the company said local organizations devoted to ending social injustice can apply for the grants at www.unum.com/about/responsibility/charitable-giving. Grant requests can range from $2,500 to $10,000. Applying organizations must have a 501(c)3 designation or a fiscal sponsor.

Unum's philanthropic partner is the Community Foundation of Greater Chattanooga.

Last year, Unum said more than a third of Unum's community grant budget in the United States was directed to organizations that serve minority populations, including programs to support mentoring, job shadowing, and resume-building workshops for the company's educational partners.

The Social Justice Fund is an extension of Unum's corporate social responsibility and commitment to inclusion and diversity, which includes diversifying its workforce.

In October, Unum launched a Historically Black Colleges and Universities Innovation Challenge to find creative ways to attract diverse talent and provide scholarship opportunities. Through the challenge, the company hosted 30 juniors and seniors from historically black colleges to help solve real-world challenges and explore career opportunities in the insurance industry.

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