YOUNGSTOWN — 717 Credit Union has launched a $1 million initiative to uplift small businesses in the downtown.

The credit union announced the effort Saturday at The Open, a free event with live entertainment and other activities to draw people back to downtown Youngstown and its small businesses, which have been experiencing difficulties, particularly because of the Realty Tower explosion and subsequent demolition.

“When we began to look at how 717 could help, it was obvious we could make a difference by partnering with the city, JAC Live, our Chamber (Youngstown / Warren Regional Chamber) and other leaders who have been such powerful advocates for years,” John Demmler, president / CEO of 717, said.

“Being the presenting sponsor of The Downtown Open aligns with our mission to help people live better lives financially and support the communities we serve. But it can’t end with one event. We knew we had to push this one step further to create lasting change,” he said.

To further that commitment, the credit union will provide up to $1 million to be funneled back into the urban core. For every auto loan refinanced through 717, it will give up to $250 in gift cards to support downtown businesses.

“We want to align ourselves with what our partners at Eastgate Regional Council of Governments, the chamber and others are doing to make lasting change and fulfill our purpose of supporting the communities we serve by banking on each other,” Demmler said.

Businesses interested in participating in the Forever Youngstown initiative should contact Dorian Smith, senior vice president of business development at 717.