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August 21, 2018

Franklin Savings launches $150K donation campaign for local nonprofits

Courtesy / Franklin Savings Bank
Courtesy / Franklin Savings Bank
Franklin Savings Bank President and CEO Tim Thompson and bank employees Amy DeRusha and Josh Bickerman join Franklin County Animal Shelter Manager Chris Brown and Media and Fundraising Coordinator Dory Dias. The animal shelter received the most donations in the first round of Franklin Savings Bank's 150th celebratory donation. DeRusha and Bickerman were among those who chose the shelter. In the next round, $150,000 in donations will be distributed in the bank area, based on nominations from the community.

Franklin Savings Bank is celebrating its 150th anniversary by setting up a fund that will make donations to nonprofits in its coverage area.

The bank launched a survey on Aug. 15, asking people where they would like a donation to be made. Eligible nonprofits must be recognized by the IRS as 501(c)(3) organizations and they must be based or provide services to Franklin, Oxford, Somerset or Hancock counties.

"We see our 150th anniversary not so much as a celebration of ourselves, but as a celebration of our communities," said Franklin Savings Bank President and CEO Tim Thompson. "It's the people living and working in the communities we serve who have made our sesquicentennial possible. This is our thank-you."

Those making a nomination for the Community 150 Fund do not have to live in those counties and they do not have to be bank customers, but the bank is allowing only one nomination per person. Eligible nonprofits receiving the largest number of nominations will receive grants proportionate to the support ranging from $1,000 to $10,000.

Nominations can be made online here through Oct. 15. Paper ballot can also be picked up by visiting a Franklin Savings Bank location in Farmington, Rumford, Jay, Rangeley, Wilton, Skowhegan, Mt. Blue High School or Ellsworth.

The bank said in a news release the $150,000 is on top of the regular contributions it makes through its Franklin Savings Bank Community Development Foundation, which averages more than $160,000 in donations annually.

It is also on top of a spring round of donations in which the bank offered its employees and corporators $150 to donate wherever they wished. Those 171 gifts totaled $27,300 for 95 charities. The checks will go out to those charities soon.

"This is a special year for us and I'm pleased that our board of directors decided to make this additional financial commitment to our communities," said Thompson.

Since the foundation was founded in 2000, the bank reported it has contributed $2.3 million to educational and local nonprofits.

The bank was founded in 1868. It has broadened over the years to serve lending needs as well as deposit and commercial needs and the area served has expanded beyond its original Franklin County, with locations in Oxford, Somerset and Hancock counties.

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