Berkshire Bank Releases Inaugural Corporate Social Responsibility Report
BOSTON, MA - MAY 8, 2019 - Berkshire Bank is excited to announce the release of its inaugural Corporate Social Responsibility report, Our Purpose & Promise. The report highlights the bank’s commitment to positively impacting others through volunteerism and giving, investing in its employees, and advancing its ongoing efforts in diversity, inclusion, and belonging.
Berkshire Bank is dedicated to improving its communities through volunteerism, philanthropy, and community development. In 2018, the bank impacted over one million people through its nationally acclaimed Employee Volunteer Program, the XTEAM®, with 100% of Berkshire Bank employees participating in the program for the third consecutive year. In addition to its volunteer support, the bank, along with the Berkshire Bank Foundation, invested over $4 million dollars to support local non-profit organizations and community events. 67% of the Foundation’s grant funding supported under-resourced populations, while the bank provided an additional $27.6 million in 2018 in community development loans.
The report also highlights Berkshire Bank’s commitment to creating an inclusive and equitable work environment. In 2018, the bank raised its minimum wage to $15 an hour, and implemented the Massachusetts Equal Pay Act companywide. In 2018, 63% of the bank’s workforce was made up of women, of which 42% were in senior executive management positions. Additionally, the company has made a commitment to develop a work environment that’s more reflective of all the communities it serves.
As the company continues to evolve to be the premier community bank of the 21st century, the 2018 Corporate Social Responsibility report highlights the steps the company is taking to foster that culture of belonging.
About Berkshire Bank
Berkshire Bank is recognized for its entrepreneurial approach, relationship customer experience and distinctive culture. With $12.2 billion in assets, Berkshire provides business and consumer banking, mortgage, wealth management, investment and insurance services through 109 full service branch offices throughout New York, Connecticut, Vermont, New Jersey, Pennsylvania, and Massachusetts, including Commerce Bank, a division of Berkshire Bank. Berkshire Hills Bancorp (NYSE: BHLB) is the parent of Berkshire Bank. Berkshire Bank was named one of Massachusetts' Most Charitable Companies by the Boston Business Journal in 2018. The Company has a pending agreement to acquire SI Financial Group, Inc. and its subsidiary, Savings Institute Bank and Trust Company, a $1.6 billion dollar bank with 18 branches in Eastern CT and 5 branches in Rhode Island. To learn more, visit www.berkshirebank.com, call 800-773-5601 or follow us on: Facebook, Twitter, Instagram and LinkedIn. Berkshire Bank is the official bank of NESN's Boston Bruins coverage. Life is Exciting. Let us help.®
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