Giving back, paying it forward, doing our part—no matter what we call it, we have the power to change our communities. Whether we volunteer for a local nonprofit, donate to a charity, or help our next-door neighbors, we’re making life better for others and ourselves!
Here are 10 compelling reasons that giving back is important:
Supporting People in Need – The chief benefit of giving time and money is the real difference we can make in someone’s life—a child, a senior citizen, a marginalized person, a victim of disaster. As Mahatma Gandhi said: “The true measure of any society can be found in how it treats its most vulnerable members.”
Sustaining Nonprofit Organizations – Most people know that donations help charities run their programs. But nonprofit organizations also rely on volunteers to accomplish their missions. In fact, about one-third of the nonprofit workforce is made up of volunteers.1
Boosting Local Economies – Volunteers who act as mentors, financial coaches, and job trainers help the entire community become more financially stable. One survey found that 70% of small businesses with mentors stayed open for more than five years—twice the survival rate of businesses without mentors.2 And 75% of small business owners pay it forward by contributing an average of 6% of their profits to charitable organizations each year.3
Investing in Children and Youth – Tutors, coaches, and mentors help kids and teens grow up to lead fulfilling and productive lives. One study reported that 74% of young people who had an effective mentor say that person contributed in important ways to their success in life.4
Promoting Equity and Social Justice – Donations and volunteer efforts can break down barriers to education, health care, housing, and jobs for marginalized groups. According to Kofi Annan, former United Nations secretary-general: “If our hopes of building a better and safer world are to become more than wishful thinking, we will need the engagement of volunteers more than ever.”
Increasing Awareness of Local Issues – Getting involved with our communities gives us a chance to know our neighbors and their needs. For example, during last year’s Community Impact Day, Excite Credit Union employees volunteered at the Resource Area for Teaching (RAFT) in San Jose, California, and the Good Shepherd Center’s Sgt. Eugene Ashley Memorial Center in Wilmington, North Carolina. Excite employees gained insights into the challenges faced by public school teachers and homeless veterans, as well as the impactful efforts these organizations are making to address them.
Building Stronger Communities – By caring for each other’s welfare, we build a culture of teamwork, kindness, and adaptability that makes our communities more resilient. In one survey of volunteers, 66% said the reason they volunteer is to improve their community.5
Enhancing Personal Well-being – Giving to others helps us, too! Research shows that people who volunteer—especially those 65 and older—have lower rates of depression and anxiety.6 One study found that older adults who volunteered at least 200 hours annually lowered their risk of high blood pressure by 40%.7
Leaving a Lasting Legacy - The programs we build, the people we empower, and the projects we support create a lasting legacy of transformation that will influence future generations to continue the work. Philosopher William James said, "The greatest use of a life is to spend it for something that outlasts it.”
Creating a Positive Ripple Effect – When we help others, we inspire family, friends, and even strangers to do the same. The Excite Foundation was established in 2020 to extend the impact that Excite Credit Union and its Members can have on amplifying key cooperative principles common to all credit unions: financial education, inclusion, and concern for community. Learn more about the foundation’s important work and how you can contribute: www.excitefoundation.org.
Of course, these are just some of the many benefits of giving back to others. Why not contribute your time, skills, and money to your community—and discover the advantages of giving back for yourself?
1 doublethedonation.com/volunteer-statistics
2 www.sba.gov/blog/mentoring-missing-link-small-business-growth-survival
3 www.score.org/resource/infographic/infographic-small-business-charitable-giving-big-impact-local-communities
4 www.aecf.org/blog/spotlight-on-youth-mentoring
5 www.sterlingvolunteers.com/blog/2019/05/why-volunteers-give-their-time-a-deep-dive
6 www.mayoclinichealthsystem.org/hometown-health/speaking-of-health/3-health-benefits-of-volunteering
7 www.cmu.edu/news/stories/archives/2013/june/june13_volunteeringhypertension.html