Mascoma Bank created the Mascoma Bank Foundation out of a profound commitment to community.
Mutual savings banks have their roots in philanthropy. The first mutual savings bank was organized by the Reverend Henry Duncan in Ruthwell, Scotland, more than 200 years ago. Mascoma Bank was organized in 1899 by a group of individuals who “invested” small sums of money to capitalize Mascoma Bank with no expectation of any personal financial return.
Mascoma Bank was the first mutual bank in either New Hampshire or Vermont to organize and fund a charitable foundation. Each year, Mascoma Bank contributes a portion of its earnings to the Mascoma Bank Foundation to fulfill approved grant requests received from our local communities. Since its establishment in 1988, the Mascoma Bank Foundation has contributed over $4.5 million to local nonprofit organizations.
Our commitment to be a force for positive change in the communities we serve includes Mascoma Bank’s Donation and Sponsorship Committee. When taken together with the Foundation’s contributions, Mascoma Bank was the source of almost $1.7 million in direct support for New Hampshire- and Vermont-based non-profits and community organizations in 2018.Learn About the Mascoma Bank Foundation