“Return on investment” is a term often used in the business world, but Guilford Savings Bank hopes more people will think about their local community as an investment as well. “We want to make sure we have a solid foundation for the future of the shoreline” expressed Timothy Geelan, incoming President & CEO. “Our community has been good to us for over 138 years, and it’s important to us that we give back.”
The Bank recently established funds at the Branford Foundation and the Madison Foundation resulting from a seed planted four years ago in Guilford. In May of 2009, GSB established the “Guilford Savings Bank Scholarship Fund,” a perpetual scholarship fund exclusively for Guilford High School seniors who would be furthering their education. The new funds at each foundation will continue to support scholarships as well as low-to-moderate income individuals and families, the general needs of the local community and the operating needs of the Foundations. The purpose of the fund in Guilford has been expanded to support the same initiatives.
Charles Havrda, Chairman of the Board for GSB explained why establishing these funds was so important. “We wanted to create a great future for our communities, but to do that we had to make an investment now. Unlike typical donations, establishing a fund allows the respective foundations to grow the money and draw from it as needed, helping more people over time.”
Businesses and individuals who feel that the purposes of the funds align with their causes can make tax-deductible donations directly to the Foundations. Contact information for the foundations can be found below:
The Guilford Foundation – P.O. Box 35, Guilford CT 06437, P: (203) 745-9930, W: GuilfordFoundation.org
The Madison Foundation – P.O. Box 446, Madison CT 06447, P: (203) 245-2796, W: TheMadisonFoundation.org.
The Branford Community Foundation –P.O. Box 462, Branford CT 06405, P: (203) 488-6063, W: BranfordCommunityFoundation.org
This article by Pem McNerney originally appeared in Madison Patch