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May 18, 2006
York County nonprofit organizations gathered last week with officials from Kennebunk Savings Bank and the Kennebunk Saving Bank Foundation to celebrate reaching the milestone of $5 million contributed through its Community Investment Program. Since 1993, Kennebunk Savings Bank, a mutual bank, has contributed 10% of its earnings to charitable and nonprofit organizations in the communities of southern York County where it has offices.
At the $5 million celebration, Joel Stevens, president and CEO of Kennebunk Savings Bank, also announced the establishment of a separate $3 million fund to benefit York County seniors. The fund, to be known as the Huntington Common Charitable Fund for Seniors of the Kennebunk Savings Bank Foundation, was founded as a result of the sale of the previously non-profit Huntington Common Retirement Living Facility of Kennebunk to Sunrise Senior Living of Virginia. Huntington Common Board of Trustee members, including David McConnell, former Board Chair, Bill Gilpatric, Deborah Fitts, Jay Chapin, and Paul Dargis, and Founder and Huntington Common Manager Doug Stockbridge, were determined to see that proceeds from the sale be set aside in a fund administered by an organization in touch with the needs of the York County community. They chose the non-profit Kennebunk Savings Bank Foundation as the recipient.
Beginning in 2007 the Huntington Common Charitable Fund for Seniors of the Kennebunk Savings Bank Foundation will be making grants to nonprofit organizations benefiting York County seniors (ages 65 and over). A separate advisory group is being formed to make recommendations to the Foundation. Other details on the specifics of the fund and how it will operate are still being finalized, although it is anticipated requests will be accepted beginning January 1, 2007.
Kennebunk Savings Bank, a past winner of the Maine Businesses for Social Responsibility Eagle Feather Award, is York County’s leading financial institution. A true community bank serving the Southern Maine community for more than 135 years, it distributes 10% of its earnings each year to non-profit and charitable organizations through Kennebunk Savings and the Kennebunk Savings Bank Foundation. By the end of 2006, the
Community Investment Program, begun in 1993, will have contributed a total of more than $5 million to charitable and non-profit organizations throughout York County through such initiatives as the annual customer ballot, the Starfish volunteer awards and other community grants. With twelve banking offices from Kennebunk to Kittery, Kennebunk Savings has retail and business banking products and services 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 earned the Finance Authority of Maine (FAME)
Bank of the Year award three times 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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