Over $3.4 million to local organizations and counting.
The Mascoma Savings Bank Foundation was founded in 1988, in part because of the earlier acquisition of First National Bank of Lebanon in 1985. “As a result of the merger, Mascoma Savings Bank became the owner of a significant amount of stock that appreciated at a higher value than we expected,” says Mascoma Savings Bank President Steve Christy. “After considering different options, the Bank decided that investing in the community that supports us was the most obvious choice and we decided to start the first bank-funded charitable foundation in New Hampshire or Vermont.”
Since its inception, the Mascoma Savings Bank Foundation has contributed more than $3.4 million to local nonprofit organizations. “We are a community bank, and it’s an honor to help maintain the health and wellbeing of the communities we serve,” says Anne D’Aveni, Executive Assistant to the President. “The nonprofit groups in our service area are doing inspiring work and we are proud to support them.”
The Mascoma Savings Bank Foundation considers requests for grants of up to $10,000 and gives priority to new projects and needs. Some of the groups whose projects have been funded recently include the Chelsea Senior Center, Vermont Association for the Blind, the Society for the Protection of NH Forests, and Friends of the Morrill Homestead.
Mascoma Savings Bank continues to fund the Foundation with new gifts, that together with individual donations maintain and increase its ability to award grants. The Foundation is just one aspect of Mascoma Savings Bank commitment to community, which is also evident through direct donations to local groups and making it easy for employees to volunteer their time.
For more information, visit mascomabank.com/personal/giving-back-2.