News

Mascoma Community Development Announces New Loan Pool

Mascoma Community Development (MCD) announces that it has New Markets Tax Credits to fund a $5.5MM Small Business Loan Pool, which has received investment from MCD’s parent entity, Mascoma Bank. Eligible borrowers will benefit by receiving 50% below market interest rates among other flexible debt features.  The MCD loan pool will be used to finance eligible business expansion or equipment purchases starting at $500,000 to a maximum amount of $2,000,000.  The borrower must be located in a severely distressed or highly distressed census tract in either VT, NH or ME.  Loans will be prioritized to borrowers based on job creation, downtown redevelopment, community facilities, or business expansion projects that enhance opportunities for quality jobs and community services.


 

Elected as a Fellow of The American College of Trust and Estate Counsel

Catherine Richmond, of Norwich, a managing partner at Stebbins Bradley PA in Hanover, and a member of the Mascoma Bank Board of Directors has been elected as a Fellow of The American College of Trust and Estate Counsel.

 Fellows must have at least 10 years of experience in active practice of probate and trust law or estate planning and are elected based on their reputation, skill, and contributions to the field of lecturing, writing, teaching and participating in bar activities, according to the American College of Trust and Estate Counsel website. 

Richmond is admitted to practice law in New Hampshire and Vermont.

 

 

Stephen F Christy named “Citizen of the Year”

Lebanon — Stephen Christy, president and CEO of Mascoma Bank, has been named the 2016 “Citizen of the Year” by the Lebanon Area Chamber of Commerce, and The Upper Valley Haven has been selected as “Business of the Year.”

Christy began his career at the bank as a teller in 1973 and has served as president and CEO since 1990. He will retire at the end of the year. Clay Adams, a longtime area business executive and consultant and a director of Mascoma Bank, will succeed him.

“Steve Christy represents all that is good with Lebanon,” said Rob Taylor, the new executive director of the Lebanon Area Chamber of Commerce. “The area has benefited greatly from his presence at the center of our business community. He will be a tough act to follow.”

A committee comprised of many past recipients of the award voted to honor Christy for his “exemplary deeds of community service,” the Chamber said in a news release.

Among many other roles, Christy has served as a trustee for Dartmouth-Hitchcock Medical Center and Alice Peck Day Memorial Hospital, president of the Rotary Club of Lebanon and trustee of the Montshire Museum of Science and Vital Communities. He has served on boards of both the New Hampshire and Vermont bankers associations and now sits on the board of the American Bankers Association.

Mascoma Bank has created the Stephen F. Christy Fund to invest in community service and charitable organizations that are of special significance to Christy. The bank’s board of directors has designated that the bank’s 2016 charitable gift to the MSB Foundation will be allocated entirely to this new fund.

Since 1972, the Lebanon Area Chamber of Commerce has presented the “Citizen of the Year” award to a Lebanon resident who represents the finest qualities of good citizenship. Christy will have his name added to the plaque in Lebanon City Hall listing past honorees.St

NH Tackles Hunger

In September, Mascoma Bank, and the New Hampshire High School football community embraced the 4th annual “New Hampshire Tackles Hunger” campaign.
WMUR-TV  partnered with the NH Food Bank and the NHIAA by asking schools with home football games to act as a one-time collection sight for food and donations.  

Mascoma Bank worked locally with Lebanon and Hanover High Schools on the project, and on the evening of September 23rd
more than 900 were on hand for this outstanding local rivalry won by Hanover 34-8.
  Additionally,  Mascoma pledged to donate $1 for each fan in attendance. Soon thereafter the food was delivered to the Upper Valley Haven along with a check for $1,000.   The monies were then matched by an anonymous donor for a $2,000 total going to the effort.

The greatest current challenge faced by the NH Food Bank is meeting the continued, increasing need for hunger relief distribution at a time when availability of donated product is in decline. Over the past five years, the NH Food Bank has experienced declines in donated food from major food wholesalers, retailers, and producers due to tighter inventory controls, less stock on hand, reduced revenue, smaller margins, and the closing of 12 significant partner stores. At the same time, the need for food resources has continued to increase.  Over the past three years, thanks to each of you, NH Tackles Hunger has been a great success, collecting approximately 125,000 pounds of food for distribution.

MikeLori

 

 

 

 

 

 

 

 

 

 

The Photos are:
Hanover HS Athletic Director, Mike Jackson

Upper Valley Haven Food Shelf Coordinator, Lori Wick and
Mascoma Bank Public Relations Coordinator, Tom Hoyt

 

Shirley Mower-Fenoff Appointed

ShirleyMowerFenoffCongratulations to Shirley Mower-Fenoff on her appointment to the Board of Trustees of Leadership Upper Valley.

Shirley Mower-Fenoff is VP Retail Operations Officer at Mascoma Bank and is a 2013 graduate of Leadership NH.

Shirley has been an employee of Mascoma Bank since 2001. She has held many positions including proof operator, personal banker, senior teller, and branch manager. She has been a past member of the Upper Valley United Way Grant Allocation Committee (3 years), a past member of the Deluxe Collaborative for the Deluxe Corporation (2010-2011) and past Treasurer of the Twin State Valley Chapter of the International Association of Administrative Professionals. She has lived in New Hampshire since 2006 with her husband Joseph, residing in the town of North Haverhill. She and her husband have three children and three grandsons. She just started her own business called Violet Forrest that makes scented olive oil & sea salt body scrubs. In her spare time she is an avid gardener, beekeeper, baker, reader, and knitter and loves to travel.

Shirley joins the Board of Trustees after working diligently on the Development Committee to increase individual gifts.