Transamerica Supports Derecho Recovery Efforts in Cedar Rapids

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.”