Community Investment Program
We were the first bank in the state of Connecticut to share profits with the community it serves.
The Community Investment Program was adopted July 1995 making Essex Savings Bank the first bank in the State of Connecticut to share profits in this fashion with the communities it serves. Essex Savings Bank donates up to 10% of its after tax net income to nonprofit organizations and community development projects within the Bank’s core marketing area.
Choose the option best suited for your organization and submit a request form.
Customer Preference Ballot
Voters must be an Essex Savings Bank customer, and can vote for up to three non-profits. Checks are issued in April based on customer support, and there will be a special ceremony for the top ten recipients. Voting is open to Bank customers throughout the month of February. Ballots are available inside any of our six branches. Customers may also vote by logging into their Essex Savings Bank account online through either the mobile app or the link at the top of the page. Voting is typically held throughout the month of February.
Applications for the Ballot are typically accepted mid-October through mid-November annually. Contact us for exact dates or visit a branch for an application during this period. Certain rules apply including the 501(c)3 must be headquartered in Chester, Deep River, Essex, Lyme, Madison, Old Lyme, Old Saybrook, or Westbrook.
Non-profits must submit an application to a branch. Low to moderate income community projects may receive special consideration. Branch funding is eligible to 501(c)3 organizations or related-events within the specific branch’s local area.
Nonprofits must submit an application to the President & CEO or a Senior Vice President. Low to moderate income community projects may receive special consideration. The 501(c)3 must be headquartered in Chester, Clinton, Deep River, Essex, Guilford, Lyme, Killingworth, Madison, Old Lyme, Old Saybrook, or Westbrook.
Community Reinvestment Act (CRA)
Funding is provided solely to support the low to moderate income community. Please call (860) 767-4414 to speak with our CRA officer regarding your request for funding. The 501(c)3 must be headquartered in Chester, Clinton, Deep River, Essex, Guilford, Lyme, Killingworth, Madison, Old Lyme, Old Saybrook, or Westbrook
CIP Press Releases
Essex Savings Bank 2018 CIP Ballot Organizations
Essex Savings Bank CIP Directors Allocation 2017
Essex Savings Bank 2017 CIP Ballot Results
Essex Savings Bank 2016 CIP Ballot Results
Essex Savings Bank to Contribute to 80 Local Charitable Organizations 2016
Essex Savings Bank Directors Allocation 2016