Vermont Business Magazine Community Bank NA has announced its continued support of the Financial Futures Program at Champlain Valley Office of Economic Opportunity (CVOEO). The $5,000 donation will support Vermonters with low and moderate incomes on their path to financial well-being. Financial Futures provides financial capability and asset-building services in Chittenden, Franklin, Addison and Grand Isle counties through microbusiness counseling, matched savings accounts, and financial coaching and classes.
“The skills taught through the Financial Futures Program are invaluable,” Community Bank N.A. Regional Manager Anita Bourgeois said. “This program is important to the success of a strong community and we are delighted to support their work.”
Community Bank completed its acquisition and rebranding of Merchants Bank in mid-May.
In the past year, Financial Futures has worked with 953 individuals seeking to increase their financial wellness. Participants working on savings goals reported an average savings increase of $1,387, 79% reduced their spending and 50% reduced their debt. Among those accessing business counseling, 12 new businesses were started, 38 were expanded or enhanced, and 11.5 full-time jobs were created.
“The services offered by our Financial Futures Program are a critical avenue for a strong future for those we serve at CVOEO,” said Jan Demers, CVOEO executive director. “This is where taking that first step turns into a journey of achieving lifelong financial dreams. We are most grateful for the way Community Bank N.A. is carrying on the good work that sees this vision and makes it happen.”
To learn more about the work of Financial Futures or to sign up for a class or appointment, go to www.cvoeo.org or call 802-860-1417.
About Community Bank System Inc.
Community Bank System Inc. operates more than 230 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts through its banking subsidiary, Community Bank N.A.With more than $10 billion in assets, the DeWitt, New York-headquartered company is among the country’s 150 largest financial institutions. In addition to a full range of retail and business banking services, the company offers comprehensive financial planning, insurance and wealth management services. Community Bank System Inc. subsidiaries/business units include OneGroup NY Inc., which provides risk management and commercial insurance, employee benefits and personal lines insurance; Community Bank Wealth Management, which provides investment advisory, personal trust and financial planning services, as well as personal, business and nonprofit portfolio design; and Benefit Plans Administrative Services Inc., which provides actuarial, retirement and VEBA/HRA plan administration, and collective investment fund, employee benefit trust and transfer agency services.
Community Bank System Inc. is listed on the New York Stock Exchange and the company’s stock trades under the symbol “CBU.” For more information about Community Bank, visit communitybankna.com or ir.communitybanksystem.com.
About CVOEO
CVOEO addresses fundamental issues of economic, social, and racial justice and works with people to achieve economic independence.
We bridge gaps and build futures. That is, we provide individuals and families with the basic needs of food, fuel and housing support in times of crisis, and we help them acquire the necessary education, financial skills and assets to build a stable future in which they thrive.
The Champlain Valley Office of Economic Opportunity (CVOEO) is a nonprofit corporation formed in 1965 to carry out the Economic Opportunity Act of 1964 in Vermont’s Northwest Counties of Addison, Chittenden, Franklin and Grand Isle. It is one of five Community Action Agencies in Vermont.
CVOEO provides vital services to over eleven thousand households (over 25,000 individuals) every year. Our three Coordinated Statewide Housing Services (the Fair Housing Project, the Mobile Home Program, and Vermont Tenants) serve residents statewide. The agency employs a dedicated staff of approximately 145 employees and engages more than 1,100 volunteers annually, working out of approximately 18 locations in addition to Head Start classrooms throughout the Champlain Valley region.
Source: CVOEO 5.30.2017