Vermont Business Magazine The People’s United Community Foundation, the philanthropic arm of People’s United Bank, has announced that it has awarded a total of $30,000 to three Vermont organizations: the Vermont Community Loan Fund; the Windham Child Care Association; and the Champlain Valley Office of Economic Opportunity.
The People’s United Community Foundation awarded $12,000 to the VCLF to support its Business Loan Program. VCLF offers loans, grants and ongoing technical assistance for the development of affordable housing, community facilities, local businesses, child care programs and other projects, and gives socially responsible investors a safe and sensible tool for investing in Vermont.
The organization’s Business Loan Program provides access to capital for small and emerging businesses that cannot obtain sufficient credit from traditional lenders to continue their growth. VCLF targets loan capital to businesses that benefit lower-income residents, are owned by women, are located in downtown areas, or are related to Vermont’s agriculture. The goal of VCLF is to grow small businesses so they become credit-ready and qualify for traditional financing.
“We are pleased to once again support the efforts of Vermont Community Loan Fund,” said Michael Seaver, Officer, People’s United Community Foundation and President of People's United Bank in Vermont. “Our long-time partnership with VCLF helps ensure Vermont businesses are given every opportunity to succeed.”
The People’s United Community Foundation awarded $3,000 to the Windham Child Care Association (WCCA). Founded as Vermont’s first child-care resource and referral agency in 1981, Windham Child Care Association administers a number of programs and services for children, families, and early childhood educators to ensure access to high-quality child care for all children in Windham County.
The organization’s initiatives include a Professional Development Program for Early Childhood Educators, Child Care Referral & Financial Assistance programs, and the Child and Adult Care Food Assistance Program. In addition, WCCA supports early educators through a bookmobile program, the Early Learning Express, and the United Way Fund for Quality Early Education.
“We are grateful for the support of People’s United Community Foundation,” said Margaret Atkinson, WCCA Executive Director, “This grant allows us to continue to provide opportunities for early childhood educators that will strengthen businesses and careers.”
“We are pleased to once again support the Windham Child Care Association as they work with more than 700 individuals to provide the necessary skills to care for children in Windham County,” said Michael Seaver, Officer, People’s United Community Foundation and President of People's United Bank in Vermont.
The People’s United Community Foundation awarded $15,000 to Champlain Valley Office of Economic Opportunity (CVOEO) in Burlington, Vermont. CVOEO programs are designed to help low-income individuals achieve economic independence. The grant from People’s United Community Foundation will support its Growing Money Program, which assists participants in reaching their financial goals, improving their credit scores, and identifying areas for saving. With free financial classes and coaching, individuals learn to manage spending, create a budget, access banking products and services, how to work with creditors and avoid predatory lending.
“The award from People’s United Community Foundation enables us to help hundreds of households to build financial stability and increase assets in a variety of ways,” said Jim White, director of Growing Money. “We really appreciate the generosity of the foundation, which will improve the financial well-being of so many people in northwest Vermont.”
“We are proud to partner with CVOEO and their Growing Money Program” said Michael Seaver, Officer, People’s United Community Foundation and President of People's United Bank in Vermont. “Financial capability is a skill set we all need in order to be successful.”
Established in 2007, People’s United Community Foundation was formed to help support programs and activities that enhance the quality of life for citizens in the communities that People’s United Bank serves. People’s United Bank, founded in 1842 and serving customers from New York to Maine through a network of more than 400 branches, is the largest independent bank headquartered in New England. The Foundation places special emphasis on programs designed to promote economic self-sufficiency, education and improved conditions for low-income families and neighborhoods. The funding priorities of the Foundation include community development, youth development, and affordable housing.