News: Front Section
Posted: August 23, 2024
Essex Savings Bank to donate to 21 nonprofits
Essex, CT As part of Essex Savings Bank’s ongoing Community Investment Program (CIP), its board of directors disburses funds to local nonprofits that applied for grants through the program. The CIP manifests the bank’s community-oriented approach to banking by allowing the bank to give back to the areas it serves. Every year since 1995, the initiative sees the bank donate up to 10% of its net after-tax profits to 501(c)(3) organizations. This year, the board of directors is allocating a portion of that total by providing $56,125 to 21 nonprofits.
President and CEO Diane Arnold said, “This is what community banking is all about – giving back to the people and organizations that made us what we are today and making a tangible difference. We are humbled by our numerous opportunities to drive positive change along the shoreline.”
Since the CIP began, Essex Savings Bank has donated approximately $5.8 million.
For more information on the Community Investment Program, the annual ballot, and Essex Savings Bank, please visit www.essexsavings.com.
Essex Savings Bank is an FDIC-insured, state-chartered, mutual savings bank established in 1851. The Bank serves the Connecticut River Valley and shoreline with six offices in Essex (2), Chester, Madison, Old Lyme, and Old Saybrook providing a full complement of personal and business banking. Financial, estate, insurance, and retirement planning are offered throughout the state by the Bank’s Trust Division, Essex Trust, and its wholly-owned subsidiary, Essex Financial Services, Inc., a Registered Investment Advisor.
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