Columbia Bank and ForgiveCo Partner to Erase $5 Million in Medical Debt for Southern California Veterans

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Bank launches veteran medical debt relief initiative in celebration of America's 250th anniversary TACOMA, Wash., July 2, 2026 /PRNewswire/ -- Columbia Bank, a subsidiary of Columbia Banking System, Inc. (Nasdaq: COLB), today announced its partnership with public benefit corporation ForgiveCo to eliminate $5 million in medical debt for veterans and their families. The initiative headlines Columbia Bank's commemoration this summer of America's 250th anniversary across its western footprint. In partnership with ForgiveCo, Columbia Bank will eliminate medical debt for over 2,000 veterans and their families across Los Angeles, Orange, Riverside, San Bernardino and San Diego counties. Those earning up to 80% of area median income with qualifying debt currently in collections will be randomly selected and notified by ForgiveCo, with no application required. In addition to medical debt relief, recipients will have access to complimentary services that include counseling, guidance and educational resources to support long-term financial stability. "Few priorities are more important than ensuring veterans and their families have access to economic opportunity," said Clint Stein, CEO of Columbia Bank. "As we celebrate America's 250th anniversary, we are proud to support those who have served our country and to help strengthen their financial futures." Medical debt remains a significant barrier to financial well-being, often limiting access to credit, housing and employment opportunities. Since 2021, ForgiveCo has erased millions of dollars in debt nationwide by purchasing large portfolios of delinquent medical debt at a fraction of the original value and partnering with organizations to fund relief efforts. "Medical debt can create lasting financial challenges for veterans, particularly during major life transitions such as returning to civilian life," said Craig Antico, CEO of ForgiveCo. "Many of the individuals we reach are carrying debts in collections that negatively impact their credit and limit their opportunities. Eliminating even a single debt can make a profound difference." Celebrating America's 250th Anniversary From June 1 through July 31, Columbia Bank is commemorating the 250th anniversary of the United States through a series of initiatives designed to support active-duty service members, veterans and organizations that serve them, including:

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