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 Savings Bank was organized in 1899 by a group of individuals who “invested” small sums of money to capitalize Mascoma Savings Bank with no expectation of any personal financial return.
Mascoma Savings Bank was the first mutual bank in either New Hampshire or Vermont to organize and fund a charitable foundation. Each year, Mascoma Savings Bank contributes a portion of its earnings to the Foundation for distribution in the community. Since its establishment in 1988, the Mascoma Savings Bank Foundation has contributed over $3.9 million to local nonprofit organizations.
But Mascoma Savings Bank’s commitment to the community extends even further as the Bank continues to directly support local nonprofits every year. When taken together with the Foundation’s contributions, Mascoma Savings Bank was the source of $937,479 in direct support for New Hampshire- and Vermont-based community organizations in 2016.
In the links below, you will find information on how to apply for a grant from Mascoma Savings Bank Foundation or for direct support from Mascoma Savings Bank.