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September 17, 2002
KENNEBUNK, Maine - Kennebunk Savings Bank, known for its community
involvement in York County, recently created the Kennebunk Savings
Bank Foundation. This new Foundation will ensure the bank’s
tradition of being a major contributor to non-profit and charitable
organizations in York County well into the future.
Kennebunk Savings Bank began serving as a resource for York County
non-profit and charitable organizations when it formed its Community
Investment Program in 1994. As a mutual bank, the bank does not have
shareholders but instead determined that it would share its success
with its communities. Since 1994, the bank has earmarked 10% of its
earnings each year to be returned to the communities it serves. By the
end of 2002, the total amount contributed to over 300 charitable and
non-profit organizations in York County will reach $2.5 million.
In an effort to be a continuous source of funding to York County even
in less favorable economic times, the bank recently formed and funded
the Kennebunk Savings Bank Foundation, which will now be the vehicle
through which most of their Community Investment Program funding will
be channeled. "We want to put funds aside for the future by
creating a foundation," states Kennebunk Savings Bank president
and CEO, Joel Stevens. "With this new entity, we believe we will
be able to continue our special commitment and support to the
communities of York County through all economic times, now and into
the foreseeable future."
The goals of the Kennebunk Savings Bank Foundation’s Community
Investment Program are to invest in community development programs
with lasting impact, to encourage citizens to become involved in their
communities, and to provide local organizations a source of funding
that is driven by local values. The Foundation focuses its funding in
York County through five areas of emphasis: the arts; civic
initiatives; education; the environment; and human needs.
Kennebunk Savings Bank, a 2001 winner of the Maine Business for Social
Responsibility Eagle Feather Award, is York County’s leading
financial institution. A true community bank, it distributes 10% of
its earnings each year to non-profit and charitable organizations
throughout York County through its Community Investment Program. With
eleven banking offices from Sanford to Kittery, Kennebunk Savings has
a complete line of retail and business banking products and also
offers personal and commercial insurance through its subsidiary,
Morris Insurance Services, Inc. In addition, Kennebunk Savings has a
strong commitment to York County’s business community and has twice
earned the Finance Authority of Maine (FAME) Bank of the Year Award
and is a Small Business Administration (SBA) Preferred Lender.
For more information contact:
Heather Harris
Community Relations Officer
Kennebunk Savings Bank
1-800-339-6573
Learn more about Kennebunk Savings Bank's Community
Investment Program. |
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