Norway Savings delivers $40k to Avesta Housing

4 people standing in a line in front of mural

Courtesy / Norway Savings Bank From left, Rick Flagg, Norway Savings senior vice president and senior commercial banking officer; Rebecca Hatfield, Avesta Housing’s president and CEO; Holly Pepin, vice president and commercial loan officer at Norway Savings; Sara Olson, vice president of advancement for Avesta.

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Representatives from Norway Savings Bank delivered a check for $40,000 to Avesta Housing in Portland earlier this month, part of a multi-year commitment by the bank to an organization that continues to accelerate the creation of much-needed low and moderate-income housing across Maine.

“The greatest burden of the affordable housing crisis is frequently carried by the most vulnerable members of our communities,” said Dan Walsh, president and CEO of Norway Savings. “Avesta Housing is dedicated to providing people in need with access to safe, affordable homes.”

Founded in 1972, Avesta is the largest nonprofit affordable housing provider in Maine. The organization promotes and provides quality affordable homes for older adults, working families, recent immigrants, the visually impaired and formerly unhoused individuals and families.

Avesta manages more than 150 properties, serving thousands of people in Greater Portland, and has 800 new homes and units in development.

“Norway Savings Bank is a longtime partner and supporter of Avesta, and this generous gift is further evidence of its commitment to helping those for whom a safe, affordable place to live is becoming increasingly out of reach,” said Rebecca Hatfield, Avesta’s president and CEO.

Holly Pepin and Rick Flagg of Norway Savings delivered the check to Avesta, where they had the opportunity to learn more about projects completed, underway and planned.

“One of the inspiring and driving beliefs at Avesta is that an investment in affordable housing is an investment in the future of our communities,” said Walsh. “Avesta is providing needed housing but also preserving the dignity and livelihood of thousands.”

Founded in 1866, Norway Savings Bank is a mutual banking and financial services company headquartered in Norway. As of April 30, Norway Savings had $1.866 billion in total assets and 24 branch locations, and operates divisions in trust and investment services, personal banking and business banking.