Submitted by Elizabeth A. Kuhns, Essex Savings Bank.
April 15, 2019 – Essex, Connecticut – Essex Savings Bank was pleased to announce the results of the 24th Annual Community Investment Program. This year’s 8,421 votes was the highest number of votes cast in the past five years. Bank customers were eligible to vote for their favorite nonprofit organizations, online or by paper ballot, from February 1 through the 28, 2019. A total of 72 local organizations whose missions ranged from feeding the hungry to aiding animals and from supporting league sports to fire prevention participated. The program entitles the Bank’s customers to select up to three charities from this year’s list of 72 qualified non-profit organizations with the top ten recipients recognized at the annual reception. Fund allocations are awarded based on the results of these votes. To fund this program, the Bank has annually committed up to 10% of its after tax net income to qualifying organizations. Of this, 30% is annually set aside to enable customers the opportunity to allocate monies to the nonprofits of their choice. For 2019, the Bank has committed $132,000 to the Community Investment Program.
Gregory R. Shook, President & CEO, stated, “I am proud of the service this Bank and its employees provide to our community. Through our Community Investment Program we have been able to provide nearly $4.5 million dollars to nonprofit organizations in our area. In addition to these donations, many of the Bank’s employees offer their expertise to nonprofit organizations as volunteers.”
Essex Savings Bank is a 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 Department and wholly-owned subsidiary, Essex Financial Services, Inc., Member FINRA, SIPC.
For a full list of the organizations and donations, please see this link: Press Release 2019 CIP Ballot Results (1)
