Essex Savings Bank Announces 2018 Community Investment Program Balloting Results
April 11, 2018 – Essex, Connecticut – Results from Essex Savings Bank’s customers recent voting efforts in the Bank’s Community Investment Program were announced today at a meeting of the
“Top Ten” recipients, employees, directors and trustees at the Bank’s Plains Road Office. According to Gregory R. Shook, President & CEO of Essex Savings Bank, 6,274 votes were cast this year for a total of $39,605.
The customer balloting portion of Essex Savings Bank’s 2018 Community Investment Program began on February 1 and concluded on February 28. 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. For twenty three years, the Bank has annually committed up to 10% of its after tax net income to qualifying organizations with $132,000 committed to this year’s program. By year end, the program will have contributed $4.36 million in donations to over 200 organizations.
Since the ballot’s inception in 1996, the Bank has donated over $500,000 to the top ten organizations. During that time, the Shoreline Soup Kitchens & Pantries (SSKP) has continuously ranked first, claiming nearly $114,000 in funds. Ellen Rabin, the new director of SSKP, remarked “I am grateful for the tremendous support of the shoreline community for the mission of SSKP. The food and fellowship provided through both the groceries distributed at food pantries and the hot homemade food served at meal sites relieve hunger and demonstrate that we all care about our neighbors. Essex Savings Bank is a generous partner supporting the communities on the Connecticut Shoreline and boosting the quality of life for all of us. Thank you Essex Savings Bank and everyone who endorsed our mission with their vote.”
Mr. Shook concluded by stating, “We are proud to be able to provide our customers with the opportunity to support the community’s non-profit organizations that matter most to them.”
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.