Capital One has provided funding to the REI Cooperative Action Fund, which has resulted in a significant investment of $6.1 million distributed among 264 nonprofit organizations. These organizations aim to create a more equitable outdoors environment. The REI Fund, supported by community donations and corporate partners like Capital One and REI Co-op, focuses on enhancing the health and well-being of communities through outdoor activities.
Kristen Ragain, Managing Director of the REI Cooperative Action Fund, stated, “The REI Cooperative Action Fund was founded on the principle that we can do more together than we can as individuals. Thanks to Capital One's generous donation, we've been able to localize our support across the country."
Since its launch in 2021, the REI Fund has announced investments annually in spring and fall. These investments provide unrestricted funding to nonprofit partners committed to community health through outdoor engagement. The latest round of funding increases the total amount given by the fund in 2023 to $10.1 million.
Katie Fletcher, Managing Vice President of Card Partnerships at Capital One, expressed enthusiasm for supporting these efforts: "We are thrilled to support the REI Cooperative Action Fund, which supports hundreds of local organizations creating a more equitable outdoors. A key tenant of our partnership with REI and the REI Cooperative Action Fund is our shared values around inclusion and community impact."
The recent grantees include over 200 local organizations endorsed by REI employees working in-store. The funds from Capital One extend this investment into various communities nationwide where both companies have an active presence.
Some notable grantees include Black Women Who in Austin, Texas; OutLoud Dallas in Dallas, Texas; The Woods Project, Inc in Houston, Texas; Richmond Cycling Corps in Richmond, Virginia; and City Kids Wilderness Project in Washington D.C.
In addition to supporting these initiatives, Capital One and REI have collaborated on offering the REI Co-op Mastercard. This card provides benefits that encourage members' pursuit of outdoor activities by rewarding everyday purchases.