United Bank and Two Foundations Dedicate Over $1.2 million to Community Partnerships in 2018
FOR IMMEDIATE RELEASE
|CONTACT: Adam Jeamel
Head of Corporate Communications
(Hartford, Conn./West Springfield, Mass.: February 11, 2019) Through their steadfast commitment to building and enhancing their community partnerships with organizations throughout Connecticut and Massachusetts year-after-year, United Bank and its two charitable foundations today reported that in 2018 they invested over $1.2 million in nonprofit organizations, student scholarships and corporate sponsorships in the communities they serve.
In 2018, the United Bank Foundation Connecticut and United Bank Foundation Massachusetts made approximately $850,897 in grants and payments to over 200 nonprofit organizations and student scholarship recipients. In addition, United Bank’s Community Sponsorships Program, which is separate and distinct from its Foundation giving, delivered $420,000 in giving to several other organizations and sponsored events in 2018. Since 2005, the two Foundations have together invested over $10 million in the nonprofit community in Connecticut and Massachusetts.
“At United Bank, our core mission of ‘neighbors helping neighbors’ through exceptional customer service, first-rate banking products and services and lasting community partnerships has been our sustained commitment since 1858. Once again, we’re proud to say this unwavering dedication to our communities grows stronger year-after-year,” said William H.W. Crawford, IV, Chief Executive Officer and President of United Bank. “I would like to thank our employees and Board of Directors for their continued individual and collective generosity and selfless volunteerism in the communities we serve.”
Some of the areas of focus for United’s corporate giving and community partnerships are: neighborhood revitalization, affordable housing, education, health and human services, various youth programs and more. In compliance with the federal Community Reinvestment Act (CRA), United Bank also gives special consideration to charitable investments that directly benefit disadvantaged or low-to-moderate income individuals, families and neighborhoods in cities and towns the Bank serves. More than 55% of the Bank’s total giving in 2018 was CRA-eligible.
In addition, United Bank continues to make a significant impact on communities through its PATH Plus initiative, which was established nearly three years ago to provide the three keys to homeownership – education, savings and mortgage benefits – to low-to-moderate income individuals and families eligible to participate in this program. To date, 131 individuals from Connecticut and Massachusetts have participated in PATH Plus, 17 are currently enrolled in the program, 73 have graduated and 19 of them are new homeowners. Other program graduates are in the process of identifying homeownership opportunities. And the Bank’s Foundations donated a total of $53,500 to nonprofits who have successfully referred and enrolled program participants.
For more information on United Bank’s commitment to corporate and charitable giving, please visit their website at www.bankatunited.com and click “Charitable Giving” in the “About” section of the website.
About United Bank
United Bank, is a $7.3 billion, Connecticut state chartered bank headquartered in Hartford, Conn. with more than 50 banking offices throughout Connecticut, Massachusetts and Rhode Island. The holding company for United Bank is United Financial Bancorp, Inc. (Nasdaq Global Select Stock Market: "UBNK"). For more information on United Bank, please visit www.bankatunited.com.