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Tuesday, February 27, 2024

First Reliance Financial institution’s adoption advantages – Unbiased Banker


First Reliance Financial institution’s founder and CEO Rick Saunders along with his spouse, Tiffany, and three youngsters

To assist ease the method, First Reliance Financial institution presents help for associates who welcome a foster or adopted baby into their household.

By Rachel Hatcher


Fast Stat

76%

of adults contemplating worldwide adoption are involved about having the ability to pay for it

Supply: Dave Thomas Basis for Adoption 2022 US Adoption Attitudes Survey

The street for {couples} and households seeking to undertake is suffering from hurdles. Perhaps they’re nonetheless saving as much as accommodate the prices, or their employer isn’t keen to offer the break day vital for a kid to regulate to their new residence.

First Reliance Financial institution, a $925 million-asset group financial institution in Florence, S.C., has made strides to interrupt down these obstacles.

In accordance with the nationwide nonprofit Dave Thomas Basis for Adoption, funds are a priority for 54% of adults contemplating adoption from foster care and 76% for worldwide adoption. To ease issues like this for his or her workers, First Reliance Financial institution established its Adoption Help Coverage, which offers monetary reimbursement for adopting households.

The group financial institution grants program individuals as much as $14,500, which may go in direction of adoption bills resembling private and non-private adoption company charges, authorized charges, medical and journey bills, and different related prices. As well as, FRB offers eight weeks of paid go away. If an worker is new to adoption, founder and CEO Rick Saunders and his spouse, Tiffany, make themselves accessible to supply recommendation.

A private connection

Saunders is a robust advocate for adoption, having personally skilled the method. After Tiffany skilled three miscarriages, she and Saunders determined to undertake a toddler. Nevertheless, after that they had begun the method of adopting slightly woman in 2003, they found Tiffany was pregnant. Regardless of that, Saunders and his spouse selected to undergo with the adoption.

“We simply have been already in love along with her,” says Saunders. “We already had her footage.” Their daughter grew to become the namesake for the group financial institution’s extra monetary adoption useful resource, Reagan’s Promise Fund, which is funded by worker contributions and income from branded product gross sales.

Saunders takes delight in First Reliance Financial institution’s adoption advantages. “Anytime the corporate might help the individuals who work for them chase their passions, their love for all times and household and their work—I simply assume it creates a tradition and an surroundings the place individuals love being there, they usually’re not simply chasing the greenback.”

As a testomony to the group financial institution’s dedication, the Dave Thomas Basis for Adoption just lately acknowledged First Reliance Financial institution in its 100 Finest Adoption-Pleasant Workplaces.

Encouraging group

Adoption could be a tough journey, nevertheless it proved life-changing for Saunders’ household. When he and his spouse introduced Reagan residence, she struggled with well being points introduced on by mistreatment throughout the system. But in a short while, they noticed an enormous change in her. “You may see the modifications mentally, emotionally and bodily in her simply in a number of weeks,” Saunders says, “and it was a very new life for her.”

Even with docs’ predictions that Reagan would battle with reminiscence retention, she is now 20 years outdated and a Dean’s Checklist scholar at her faculty. Saunders and his spouse later went on to undertake one other daughter, 14-year-old Riley.

“I do assume our individuals are actually extremely engaged, and quite a lot of that has to do with applications like this that say, ‘My employer cares sufficient about household and in regards to the individuals who work right here that that is the type of place I need to work.”
—Rick Saunders, First Reliance Financial institution

Saunders hopes the group financial institution’s program will encourage workers to pursue adoption and make a distinction in a toddler’s life. He says one to 2 financial institution associates benefit from the adoption advantages yearly, however many others recognize the sentiment and assist that this system presents.

“My First Reliance household offers me the pliability to look after my household and the kids I take into my care,” says one worker who fosters and adopts. “Being a working mom is a problem, however at First Reliance, I actually really feel revered for what my husband and I attempt to do for these youngsters.”

Saunders additionally believes that accommodating adopting households ought to be the norm. He says, “I do assume our individuals are actually extremely engaged, and quite a lot of that has to do with applications like this that say, ‘My employer cares sufficient about household and in regards to the individuals who work right here that that is the type of place I need to work.’”

However his reasoning for this system goes past simply the constructive impact it has on his financial institution. “Anyone who might help household, be part of that and construct their very own households,” he says, “I believe it’s a superb factor for our world, and it’s a superb factor for our nation.”


Rachel Hatcher is assistant editor of Unbiased Banker.



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