Community Investment Program
We were the first bank in the state of Connecticut to share profits with the community it serves.
Since 1995
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. Special consideration may be given to organizations whose programs or events help benefit and assist low and moderate income families and individuals.
Choose the option best suited for your organization and submit a request form.
Request a Donation FormDirectors Portion
Directors meet annually to allocate funding. Submissions must be in by June 30. 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.
Annual CIP Ballot
Essex Savings Bank’s Ballot portion of it CIP program contributes 30% of it pledged after tax net income each year to non-profit organizations and community development projects in the following eight towns, including Chester, Deep River, Essex, Lyme, Madison, Old Lyme, Old Saybrook and Westbrook.
Starting in October each year, tax-exempt 501(c) (3), non-profit organizations that maintain their headquarters within the eight towns listed above are eligible to apply. Unfortunately, applications from religious or service (Rotary, Lions, etc.) organizations are not be considered for the ballot portion of the CIP.
During the month of February, customers (any person having a loan, deposit account or safe deposit box with Essex Savings Bank) may each complete one ballot form with votes for up to three non-profit organizations.
Vote Online Now!Branch Funding
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.
Senior Management
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.
CIP Press Releases
Essex Savings Bank’s 2021 Community Investment Ballot Results