PeoplesBank Passes $1 Million Charitable Giving Threshold in 2011

Contributions to human services and education leveraged by volunteer efforts.

HOLYOKE, Mass.--(BUSINESS WIRE)--PeoplesBank has announced a historic milestone for the 127-year-old institution. For the first time in its history, the bank contributed more than $1 million dollars to local charitable and civic causes.

“We had been looking around for different ways to try and raise enough money to build a greenhouse, which is a fairly large expenditure”

"We are focused on the possible," stated Douglas A. Bowen, President and CEO, in making the announcement. "We feel it is possible to create a better community through our charitable giving and volunteer efforts. It is something that we are very passionate about and it is this passion that makes us who we are."

In a year marked by the widespread devastation caused by the June tornado, the bulk of the bank's charitable giving went toward human services. PeoplesBank, called a "First Responder" by one local nonprofit executive, committed $200,000 for tornado relief efforts in the aftermath of the storm. Keeping to its track record of supporting environmentally friendly initiatives, $80,000 of that commitment was spent on re-greening five of the impacted communities, including $40,000 for Springfield alone to help them return to their former status of "Tree City USA."

The bank also made substantial contributions to education, including a greenhouse for students of the Leverett Elementary School. "We had been looking around for different ways to try and raise enough money to build a greenhouse, which is a fairly large expenditure," explained Suzie Chang, a volunteer and parent at the school. "So we were especially excited and thrilled that PeoplesBank decided to make a leadership gift of this size, because it enabled us to just go ahead and do the entire project. For me as a mom, it's wonderful to know that my kids have this incredible opportunity and this gorgeous, gorgeous space."

According to Bowen, direct financial contributions are not the only way the bank is making a difference in western Massachusetts. "Writing a check is not the whole story. At PeoplesBank, we are actively encouraging and facilitating volunteerism. Our employees want to have a direct hand in helping the community. In fact, they were ranked third in the state for most generous employees and fourth for volunteer hours donated."

PeoplesBank is the largest community bank in western Massachusetts and a leader in green values, renewable energy financing, and charitable giving. Founded in 1885, the bank takes its responsibility to the environment seriously and has financed more than $50 million in wind, hydroelectric and solar energy projects. In addition to its LEED® Certified office in Springfield and LEED® Registered office in West Springfield, PeoplesBank will build a green office in Northampton in the near future. PeoplesBank - a passion for what is possible.

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