NewDay USA has established a tax-exempt private foundation to provide grants and charitable contributions to nonprofit organizations that support veterans, active-duty service members and military families.
In addition, through the NewDay USA Foundation the Fulton, Md.-based lender will pledge 5% of its pretax earnings during calendar year 2013 to organizations that assist veterans.
The mortgage banking company specializes in VA, FHA and reverse mortgage loans and is the exclusive provider of mortgage lending for Veterans of Foreign Wars members.
The bank plans to offer assistance especially to “those experiencing physical, emotional and financial hardships,” said NewDay USA CEO Rob Posner.
Philanthropic partners include Purple Heart Homes, National Coalition for Homeless Veterans, and the National Trust for the Wounded Warriors.
