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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 little one into their household.

By Rachel Hatcher


Fast Stat

76%

of adults contemplating worldwide adoption are involved about with 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. Possibly they’re nonetheless saving as much as accommodate the prices, or their employer isn’t prepared to supply the day off obligatory 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 boundaries.

In response to 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 staff, First Reliance Financial institution established its Adoption Help Coverage, which gives monetary reimbursement for adopting households.

The group financial institution grants program members as much as $14,500, which may go in direction of adoption bills akin to private and non-private adoption company charges, authorized charges, medical and journey bills, and different related prices. As well as, FRB gives 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 powerful advocate for adoption, having personally skilled the method. After Tiffany skilled three miscarriages, she and Saunders determined to undertake a baby. Nonetheless, after that they had begun the method of adopting a little bit lady 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 together with her,” says Saunders. “We already had her footage.” Their daughter grew to become the namesake for the group financial institution’s further 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 atmosphere the place folks love being there, and so they’re not simply chasing the greenback.”

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

Encouraging group

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

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

“I do assume our persons are actually extremely engaged, and loads 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 staff to pursue adoption and make a distinction in a baby’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 gives me the flexibleness to look after my household and the youngsters I take into my care,” says one worker who fosters and adopts. “Being a working mom is a problem, however at First Reliance, I really 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 persons are actually extremely engaged, and loads 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 optimistic 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 feel it’s an excellent factor for our world, and it’s an excellent factor for our nation.”


Rachel Hatcher is assistant editor of Unbiased Banker.



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