The Northfield Savings Bank Foundation has announced a $450,000 grant to continue its work with the Vermont Campaign to End Childhood Hunger (VTCECH) for an additional three years. This brings the Foundation s total six-year commitment to VTCECH to $900,000.
The partnership itself is a unique and cutting edge model. Based upon its success in Vermont, it is now being explored by other states wishing to address their own hunger issues. In addition, Northfield Savings Bank recently received a national award from the American Bankers Association for this partnership - one of only 15 banks across the country honored for making a difference in their communities.
Supporting the communities we serve has always been one of our key operating principles, said Northfield Savings Bank president Tom Pelletier. Three years ago, our Foundation decided to concentrate our giving on one project, for an extended period. The theory was we could produce more significant results, which could then be sustained and replicated. We chose to partner with VTCECH to address childhood hunger in Vermont.
In the three years since it began, the NSB Foundation/VTCECH partnership has helped shift the way people think about hunger. Emergency food pantries are one part of the food safety net, but long-term sustainable solutions require a different approach. The partnership has already improved access to healthy meals in many significant ways, including:
Forming Hunger Councils in Washington and Chittenden Vermont counties; the Councils are becoming a nationally respected advocacy model
Improving access to 3SquaresVT (formerly the Food Stamp Program); since December 2008 participation has increased 16%, giving an additional 10,000 Vermonters access to the food program in just 4 months. The U.S.D.A. estimates for every $1.00 spent through 3SquaresVT, $1.84 is generated in economic activity. For 2009 it is estimated 3SquaresVT will generate a total of $150 million in economic activity in Vermont.
Launching a pilot child care meal program which has already resulted in over 150,000 additional meals being served.
Over the past three years, thanks to our innovative partnership with the NSB Foundation, VTCECH has made a tremendous impact on alleviating hunger in our state, said VTCECH executive director Marissa Parisi. In these challenging economic times the need for a strong nutrition safety net makes our work more vital than ever. Thanks to the NSB Foundation, our anti-hunger efforts have never been stronger.
Goals for the next three years of the partnership include further systemic change in food delivery systems, expanded public education, and advocacy at the State and Federal level. With the extended NSB Foundation partnership, VTCECH expects to continue expanding participation rates in programs such as: school breakfast, 3SquaresVT, Cooking For Life, summer meals, and child care meals.
Northfield Savings Bank (NSB)
NSB is Vermont s second-largest bank headquartered in the state. NSB was founded in 1867 by a group of area citizens. With assets of $600 million, NSB is also one of Vermont's largest providers of residential mortgages and commercial loans. Instead of paying a dividend as stockholder-owned banks do, NSB proudly distributes a community dividend of 10% of profits to Vermont community organizations. NSB has consistently contributed $300,000 per year over the past several years. An independent community bank, NSB employs approximately 143 people and operates 13 branches throughout Central Vermont and Chittenden County. Member FDIC. Equal Housing Lender.
NSB Foundation
In keeping with its long-standing mission of donating 10% of profits, Northfield Savings Bank established the NSB Foundation in 2000. In the years 2000 through 2006, the NSB Foundation donated nearly $700,000 to 87 Vermont non-profits. Following an in-depth study of other philanthropic models around the country, the NSB Foundation initiated a multi-year, single-issue funding focus in an effort to create long-term results. Beginning in the fall of 2006, the Foundation issued a $450,000 donation over three years to the Vermont Campaign to End Childhood Hunger (VTCECH) to expand access to healthy meals in Central Vermont and Chittenden County. In 2009, the Foundation renewed the donation for an additional $450,000, for a total six-year commitment of $900,000.
The Vermont Campaign to End Childhood Hunger (VTCECH)
VTCECH is a statewide nonprofit organization that combats hunger through advocacy, education, and technical assistance. Since 1993, VTCECH has been providing communities with the tools to create and sustain local programs that feed children in need. Information on VTCECH, hunger in Vermont, and federal nutrition programs is available at www.vtnohunger.org, or for information about the 3SquaresVT (formerly Food Stamp Program) including eligibility guidelines and a printable application visit www.vermontfoodhelp.com.
Source: Northfield Savings Bank. Williston, Vermont May 13, 2009