23. November 2023

Fossar supports the Krýsuvík Organization on Thanks Day

Today is Fossar’s Investment Bank Thanks Day, an initiative which aims to give back to society by supporting organizations that strive to make a meaningful impact. 

This year, the Day’s proceeds will be directed towards building a special wing for women in the Krýsuvík treatment center and increasing the number of treatment spaces available. This year’s Thanks Day marks the ninth time the event is being held. “The event is always something to look forward to for the staff of Fossar, and it has been rewarding to be able to work on it in collaboration with customers every year to support organizations that are improving our society in various ways,” says Steingrímur Arnar Finnsson, CEO of Fossar Investment Bank.

The Krýsuvík Organization operates the treatment home Krýsuvík, which provides support to individuals who are struggling with addiction and have lost control of their lives as a result. “The Krýsuvík Organization has recently made major changes in its activities and is doing essential work for individuals with addiction problems. We welcome the opportunity to help the organization improve the service even further,” says Steingrímur.

Expansion plans to accommodate growing demand

Krýsuvík’s treatment center has been operational since 1986. Over the years, it has continuously evolved and developed to meet the changing needs of the patients. However, the recent surge in demand for treatment has resulted in a longer waiting list. The organization plans to make significant changes to the premises to address this issue. That includes increasing the number of spaces available and constructing a separate wing for women. “We aim to support the organization in achieving their goals of expanding the treatment center and providing a secure and exclusive environment for women, particularly those who have a more complex history of trauma,” says Steingrímur.

Fundraising efforts and support for Fossar’s Thanks Day

Fundraising for Fossar’s Thanks Day is supported by various organizations and individuals. All brokerage fees generated are awarded to the cause, and clients can also donate directly to the fundraiser. In addition, the Nasdaq Iceland stock exchange and the settlement company T Plus provide their support by waiving their respective fees to help the charity. The advertising agency TVIST’s work on the Day is also free of charge.

The initiative has been very successful since its inception and has witnessed steady growth in the funds raised yearly. Last year, 23.9 million ISK were collected, which went to the Pieta Organization, and the year before, 21.6 million were collected, benefitting Reykjadalur’s Jafningjasetur. A total of 90 million ISK has been collected during these years. “Customer response has been great in recent years, and the direct donations have made a big difference in fundraising. We are incredibly grateful for the participation and hope to break a new record this year and surpass the 100 million ISK milestone,” says Steingrímur.