News

"People's United Bank is a strong supporter of CEDF and one of our original founders," said Donna Wertenbach, CEDF president and chief executive officer. "With this generous investment, People's commitment to helping CEDF lend to small businesses will total $1.8 million since CEDF's founding in 1994." Wertenbach noted that in addition to providing flexible loans, CEDF supports the success of its clients through a holistic approach that goes beyond simply lending money. The organization provides consulting support and training in business skills to low- and moderate-income people across Connecticut, as well as small businesses and community organizations located in targeted communities.

"As part of our economic development and CRA (Community Reinvestment Act) efforts, we strongly support the mission and activities of CEDF," said Art Casavant, vice president and CRA officer for People's United Bank. "All segments of our economy benefit from well designed and implemented programs like those of CEDF. Our capital investment in CEDF was made to help the organization expand these efforts. Our investment will benefit the markets where we do business, and contribute towards improving Connecticut's economy as well."

The commitment to CEDF of People's United Bank doesn't stop at investing money. Bill Samuelson, who leads People's small business investment efforts, currently serves on the CEDF Foundation Board of Directors.

People's United Bank recently received an "Outstanding" CRA rating from its primary federal regulator, the Office of Thrift Supervision, one of a minority of banks to receive that rating.

Member News is provided as a service of the Midstate Chamber of Commerce and is also featured in the monthly "Chamber News" newsletter mailed to members.