Merchants Bank WARMTH challenge grant helps raise over $154,000

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Merchants Bank WARMTH challenge grant helps raise over $154,000

Fri, 02/17/2017 - 9:25am -- tim

Vermont Business Magazine Merchants Bank partnered with WARMTH again this year to help prevent low-income Vermonters across the state from going without heat this winter.  Merchants Bank matched dollar-for-dollar donations raised for WARMTH throughout the month of December.  Coupled with the Merchants Bank match of $35,000, the Vermont community raised $154,037.

“The minimum wage may have increased, but the projections for a stronger economy haven’t reached these Vermonters.   The donations we receive through the WARMTH Program go directly to keeping families warm.  These gifts bridge the gap.  When all other funds are exhausted, it is our Vermont community that keeps the heat on. We are so grateful,” says Jan Demers, Executive Director.

The funds were distributed by CVOEO for use by all five community action agencies statewide for the emergency-based WARMTH program to help offset home heating bills. Eligibility is based on household income as a percent of the Federal Poverty Level.  Applicants must be within 5-7 days of running out of bulk fuel or in danger of having their gas or electric service disconnected.

Merchants Bank’s Community Reinvestment and Compliance Officer, Cheryl Houchens, stated, “We know that many Vermonters faced the possibility of having a cold home this winter, because they could not pay their fuel or utility bill.  Merchants Bank is happy to be able to help support these neighbors with this donation to the WARMTH program.”

About Merchants Bank
A Vermont-chartered commercial bank established in 1849, Merchants Bank is the largest Vermont-based bank. The bank’s business, municipal, consumer, and investment customers enjoy personalized relationships, sophisticated online and mobile banking options, with 31 branches in Vermont and 1 location in Massachusetts, operating as NUVO, A division of Merchants Bank. American Banker ranks Merchants Bank a "Top 200" in America among 851 peers. For more information, go to www.mbvt.com. Where do you want to grow? (Member FDIC, Equal Housing Lender, NASDAQ “MBVT”)

About WARMTH

WARMTH is a statewide emergency-based program that utilizes privately donated funds to help prevent low income households from going without heat during the winter season.  The Warmth program, which has existed since 1986, is administered by Community Action Agencies across Vermont; Community Action staff provides advocacy and financial assistance to households in need to help them resolve their home heating emergency.  The Warmth program is intended to supplement the state’s Seasonal and Crisis Fuel Assistance services.

Source: Merchants 2.17.2017