Donations to support families and communities facing economic hardships across the Bank’s footprint
Vermont Business Magazine The Berkshire Bank Foundation announced today that due to the unprecedented impact of the COVID-19 pandemic it has contributed more than $1 million to collaborative efforts supporting nonprofit organizations responding to community-based needs. Guided by the Foundation’s mission of investing in those living and working in its local communities, the total relief provided represents an additional $1 million + over the Foundation’s $3 million total annual grant budget.
The organizations supported in Vermont through Berkshire Bank Foundation’s contributions include Black River Good Neighbor Services, Inc, Arlington Food Shelf, Inc, Community Food Cupboard, Inc and Rutland Community Cupboard, among others. Berkshire Bank has branches in Southern Vermont.
“The COVID-19 pandemic has affected our local communities in ways that no one could have predicted, and the economic impact has created significant challenges for organizations who help so many every day,” said Matt Emprimo, Berkshire Bank’s Vermont Regional President. “All of us at Berkshire Bank are proud that our Foundation can provide philanthropic support to help struggling families and businesses, not only here in Vermont, but across our entire footprint.”
The Foundation’s grants this year have supported community-based organizations to help local families in the areas of affordable and safe housing, food security, health supplies, students in distress, and assistance to small businesses who have been negatively impacted by COVID-19. The Foundation has also allowed nonprofits to utilize funds given for specific programs to help cover general operating costs and extended requirements and/or reporting deadlines where needed.
“At Berkshire, we understand our responsibility to do our part to help the most vulnerable that are being economically impacted by the COVID-19 crisis,” commented Berkshire Acting President and CEO Sean Gray, who also serves as President of the Foundation Board. “Our response has been guided by our Be First values and by our caring for those families and small businesses in the communities where we work and live who need help now.”
The Foundation’s $1 million+ in philanthropic support is on top of the Bank’s previously announced commitment to ensuring the health, safety and economic resiliency of its employees, customers and communities. The Bank provided $3 million to launch The Futures Fund with the Black Economic Council and MA LGBTQ Chamber, $706 million in Paycheck Protection Program (PPP) funding to assist nearly 5,000 businesses and created an employee assistance fund to help employees impacted by the pandemic, in addition to offering numerous programs to support its customers.
About Berkshire Bank Foundation
Through financial support to nonprofits, scholarships to individuals, financial education, and employee volunteerism, Berkshire Bank is committed to investing in the success and vibrancy of those living and working in our local communities. Last year, Berkshire Bank Foundation provided $3 million to organizations throughout the Bank's footprint, and 100% of bank employees provide over 40,000 hours of service impacting over one million people through the XTEAM® corporate volunteer program. The XTEAM has been honored by the United Nations with the IMPACT2030 Innovation Award in recognition of the UN’s Sustainable Development Goals as well as with a Gold Halo Award from Engage For Good as a Top North American Employee Community Engagement Program. Further, Berkshire Bank was named one of Massachusetts' Most Charitable Companies by the Boston Business Journal. To learn more about Berkshire Bank Foundation, visit www.berkshirebank.com/community.
About Berkshire Bank
Berkshire Bank is transforming into a 21st century community bank with $13.2 billion in assets. We are pursuing purpose driven performance based on our Be FIRST corporate responsibility culture.
Berkshire Bank provides business and consumer banking, mortgage, wealth management, investment and insurance services through 130 branch offices in New York, Connecticut, Vermont, New Jersey, Pennsylvania, Rhode Island and Massachusetts, including Commerce Bank, a division of Berkshire Bank.
Source: PITTSFIELD, Mass. (September 22, 2020) – The Berkshire Bank Foundation