BANGOR, Maine (WABI) - Machias Savings Bank announced the expansion of its Community Development Grant program, coinciding with the bank's 150th anniversary.
Melissa Moffett Denbow sat down with Alyssa Thurlow during Saturday Morning Maine, to discuss this generous move and the impact the program has had in recent years.
"Last year we made a partnership with the Shaw House. They were looking for financial lessons for the homeless teenagers, and I went to the event that they had and one of the students talked about how he was having an apartment that was his own for the first time. He was homeless and we did financial lessons with them and making a foundation for a lifetime," said Denbow.
For 2019, Machias Savings Bank is increasing the total amount of grants awarded by 200%, from $50,000 to $150,000.
Machias Savings Bank aims to fund projects that will result in community development. Ideally, grant funds will be awarded to projects or services that create or retain jobs, revitalize communities, help to provide affordable housing or other programs designed to assist low-to-moderate income individuals and/or families.
Interested organizations should have a deserving project located or serving in Machias Savings Bank's primary lending area, as defined in the bank's CRA Public File. Grant funds are generally awarded to several deserving applicants in various denominations throughout the service area. Last year, $50,000 in Community Development Grants was awarded to 13 organizations throughout the state.
Applications for the 2019 Community Development Grant will be available starting Monday, July 1st online at www.MachiasSavings.bank. The application deadline is Monday, September 16.
Any questions about the Community Development Grants can be sent by e-mail to grants@machiassavingcom or calls can be made to Melissa Moffett Denbow at 207.255.9266.