Leading reverse mortgage bank Reverse Mortgage Funding, LLC (RMF) has announced its pledge to donate to the food charity Meals on Wheels in a new Momentum Circle designed to strengthen the Meals on Wheels network and provide financial support to help older people not leaving home and at risk of food insecurity and exclusion.
Momentum Circle differs from the organisation’s traditional donor program in that, as part of its remit, donors contribute annually to provide Meals on Wheels America with the infrastructure, innovative research, programs and critical resources needed to support the Meals on Wheels network.
“RMF is founded on a strong commitment to helping older Americans live the retirement lives they imagine and deserve, from the comfort of their own homes,” said David Peskin, President of RMD, in a statement to RMD. “Helping Americans age is fundamental to who we are and what we do, and we believe this extends to the industry as a whole. As a leader in this field, RMF is committed to promoting integrity and responsibility not only through our business operations, but also through the interaction and contributions of our community. Working with an organization like Meals on Wheels America is a natural approach and an important investment for RMF. ”
Peskin explained that one of the key events that led to the involvement of RMF in the organization at this level was the COVID-19 pandemic. Part of the interest in the reverse mortgage product category seen at that time among more prominent health and economic factors, Peskin said, older people simply need more focused help.
“The COVID-19 pandemic has identified and increased many unmet needs of vulnerable older people,” he said. Even before COVID-19, nearly 10 million older people in America were struggling with hunger, 8 million were living in isolation, and more than 7 million were living below the poverty line, according to Meals on Wheels America. The effects of the pandemic continue, and local Food on Wheels programs are reporting unmet needs in their communities. ”
Peskin explained that due to its focus on local conditions, RMF hopes that its donation participation at this level will help increase the resources available to older people in local communities.
“As an industry that is fully focused on serving older Americans, and one that recognizes and respects the important role that older Americans play in our society, we must actively strive to improve their quality of life,” he told RMD. “We hope that RMF’s participation in Meals on Wheels America Momentum Circle will inspire others in the industry to invest in programs and initiatives that benefit and uplift this important segment of our society.”