Ion Bank News
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Ion Bank Foundation reaches milestone with $7.5 million in total awards, including $650,000 to Non-Profit Organizations in 2019
December 22, 2019Since its inception in 1998, the Ion Bank Foundation has awarded $7.5 million in grants and community awards throughout the towns they serve. In 2019, the Ion Bank Foundation made 122 grants to 144 agencies totaling $580,000. In addition, the Foundation awarded $70,000 to 170 organizations through its annual Community Awards Program (CAP).
Kathleen McPadden, Executive Director of the Ion Bank Foundation said""It gives us great pleasure to assist so many organizations in their efforts to improve lives in the communities we serve." David Rotatori, Ion Bank's President and CEO added "As a true community bank, we are interdependent with the people and other businesses in our community, helping each other rise up and stay strong. Serving our customers and being an exemplary corporate citizen has been our primary mission, for 150 years!"
The foundation awards discretionary grants to charities twice a year, in May and October, and through customer voting February and March for the Community Awards Program. The foundation made grants to organizations who focus in the areas of health, education, economic development, human and social services, and the arts. A few of the larger grants made this year include; $10,000 to the Salvation Army, $10,000 to the Naugatuck YMCA, $7,500 to Brass City Harvest, $25,000 to the Naugatuck Historical Society, and $8,500 to the Children's Community School.
About Ion Bank Foundation: The Ion Bank Foundation was created in 1998 to provide financial support to the communities served by Ion Bank. Reinvesting in local communities is one of the most important duties of a mutual bank. Toward that goal, the Ion Bank Foundation has awarded over $7.5 million to deserving local community and charitable organizations since its inception. For more information, visit ionbank.com or call Kathleen McPadden at 203.720.4114. You can "Like Us" on Facebook at facebook.com/ionbank and "Follow Us" on Twitter at twitter.com/ion_bank.
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.The “original publication date” of Member News articles posted on this web site reflects the date this article was added to the Chamber database and may not necessarily reflect the date such news events occurred.