Live Oak Bank Announces $600,000 Grant in Support of Child Care Providers in New Hanover County

Rhea-AI Summary

Live Oak Bank (LOB) has announced a $600,000 grant to support licensed early child care providers in New Hanover County. The grant, distributed over two years, will provide free access to Wonderschool's technology platform, enabling child care providers to connect with pre-qualified substitute teachers.

The initiative aims to ensure continuity of care and maintain strong student-teacher ratios by streamlining the process of recruiting, screening, and training substitute teachers. The partnership with Wonderschool aligns with Live Oak Bank's philanthropic focus on workforce development, specifically supporting access to reliable childcare for working parents.

Insights

Corporate Social Responsibility Expert

Live Oak's targeted $600,000 childcare grant addresses workforce infrastructure needs while demonstrating sustained community commitment through technology-based solutions.

Live Oak Bank's $600,000 grant supporting childcare providers in New Hanover County represents a focused community investment aligned with the bank's stated philanthropic priorities. The two-year funding provides free access to Wonderschool's technology platform that streamlines matching qualified substitute teachers with early childcare centers. This addresses a specific operational challenge for childcare providers—maintaining adequate staffing and continuity of care—which in turn supports working parents who depend on reliable childcare.

The initiative directly connects to Live Oak's stated focus on workforce development by addressing an infrastructure challenge that impacts labor force participation. Rather than a one-time donation, this multi-year commitment demonstrates sustained engagement with a fundamental community need.

By investing in technology-based solutions, Live Oak is supporting systemic improvements to childcare provider operations rather than just providing short-term financial relief. This approach reflects a sophisticated understanding of how corporate philanthropy can address root causes of community challenges.

Banking Industry Analyst

This modest community grant showcases Live Oak's commitment to local economic infrastructure while strengthening market presence through targeted support.

This $600,000 grant over two years represents a strategic community investment for Live Oak Bank that strengthens its local market presence while addressing a practical economic challenge. While the financial commitment is modest and unlikely to materially impact the bank's bottom line, it demonstrates management's attention to community infrastructure that supports economic development.

Banks increasingly recognize that investment in community vitality can yield long-term business ecosystem benefits. The focus on technology-enabled solutions for childcare providers aligns with Live Oak's innovative banking approach.

From a banking perspective, supporting childcare stability helps create conditions for economic participation—particularly for working parents who may be current or potential banking customers. This initiative showcases Live Oak's commitment to its home market of New Hanover County, where building strong community relationships remains essential even for banks with broader market reach.

The investment addresses a specific operational challenge for childcare providers rather than simply providing funding, demonstrating a thoughtful approach to community support.

WILMINGTON, N.C., May 06, 2025 (GLOBE NEWSWIRE) -- Live Oak Bank has announced a $600,000 grant to help licensed early child care providers connect with qualified substitute teachers to ensure both continuity of care and strong student-teacher ratios in the classroom. 

“At Live Oak Bank, we believe in the power of strengthening our local community, and that starts with access to quality early education,” said BJ Losch, president of Live Oak Bank. “We are proud to partner with Wonderschool to offer New Hanover County preschool providers access to a platform that directly supports the stability of local childcare, a cornerstone for working families.”  

This grant, paid out over two years, gives public and private early child care providers in New Hanover County free access to Wonderschool’s innovative technology that allows them to review and match with pre-qualified substitute teachers, an otherwise time-consuming process that includes recruitment, critical background screening and training.  

“Sometimes life gets in the way for early educators, and that can have a big impact on working parents, families and children. We’re building technology to try and make their lives just a little bit easier,” said Chris Bennett, founder and CEO of Wonderschool. “We’re teaming up with Live Oak to build a qualified and caring pool of substitutes who are ready to ensure not just continuous, but quality preschool experiences day in and day out.” 

Live Oak's philanthropic efforts prioritize workforce development, specifically helping people secure jobs with family-supporting wages, benefits and career advancement opportunities. “To achieve this vision,” said Kate Groat, Live Oak's director of corporate philanthropy, “working parents must have access to reliable, high-quality childcare from educators they can trust.” 

About Live Oak Bank 
Live Oak Bank, a subsidiary of Live Oak Bancshares, Inc. (NYSE: LOB), is a digitally focused, FDIC-insured bank serving customers across the country. Live Oak brings efficiency and excellence to the banking process, without branches, by using a focused approach to technology and innovation. To learn more, visit www.liveoak.bank.  

About Wonderschool 
Wonderschool's comprehensive technology and business support platform is designed to address every aspect of the child care and early learning ecosystem. Wonderschool's vision is to ensure that quality early care and education are conveniently accessible to every child within a 5-minute radius of their home. As leaders in collaborating with governments and employers, Wonderschool spearheads initiatives to scale and enhance child care access for every community across the country. Named one of Time's Most Influential Companies in 2022, Wonderschool is venture-backed by Goldman Sachs, Andreessen Horowitz, First Round, Omidyar, Unusual Ventures, and Gary Community Investments, among others. Learn more at www.wonderschool.com. 

Contacts: 

Claire Parker
Live Oak Bank, Corporate Communications
910.597.1592 
claire.parker@liveoak.bank 

Madison Carlos
Live Oak Bank, Corporate Communications
910.386.6616 
madison.carlos@liveoak.bank 

FAQ

What is the size of Live Oak Bank's (LOB) grant for child care providers in 2025?

Live Oak Bank announced a $600,000 grant to be paid out over two years to help licensed early child care providers in New Hanover County.

How will Live Oak Bank's partnership with Wonderschool benefit child care providers?

The partnership provides free access to Wonderschool's technology platform, allowing providers to review and match with pre-qualified substitute teachers, streamlining recruitment, background screening, and training processes.

What is the main purpose of LOB's child care grant program?

The grant aims to ensure continuity of care and maintain strong student-teacher ratios by helping child care providers connect with qualified substitute teachers.

How does the child care grant align with Live Oak Bank's philanthropic goals?

The grant aligns with Live Oak Bank's focus on workforce development, specifically helping people secure jobs with family-supporting wages and ensuring working parents have access to reliable, high-quality childcare.