The program, launched as part of Columbia Bank’s commemoration of America’s 250th anniversary, covers residents in Los Angeles, Orange, Riverside, San Bernardino, and San Diego counties. Beneficiaries are selected randomly from debt portfolios currently in collections, eliminating the need for an application process. Beyond the debt erasure, recipients will receive access to financial counseling and educational resources designed to foster long-term stability.
Columbia Bank Partners with ForgiveCo to Erase $5 Million in Veteran Debt
More than 2,000 veterans and their families across Southern California will see their medical debt cleared through a new partnership between Columbia Bank and ForgiveCo. The initiative targets households earning up to 80% of the area median income, aiming to remove financial barriers that often hinder access to housing and credit.
Clint Stein, CEO of Columbia Bank, noted that the effort is rooted in ensuring economic opportunity for those who have served. ForgiveCo, which has been purchasing and canceling delinquent medical debt since 2021, acts as the operational arm of the project. CEO Craig Antico emphasized that clearing these debts is crucial for veterans navigating the transition to civilian life, as outstanding balances in collections frequently restrict employment and housing prospects. This debt relief is one of several veteran-focused initiatives from the bank, which also includes $100,000 in grants for nonprofits and various community support events scheduled through July 31.
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