Business Profiles
Kennebunk Savings Bank donates $5 million to York County towns
Kennebunk Savings Bank has announced the start of a $3 million charitable fund to benefit York County seniors. The fund, to be known as the Huntington Common Charitable Fund for Seniors of the Kennebunk Savings Bank Foundation, was founded as a result of the sale of the previously non-profit Huntington Common Retirement Living Facility of Kennebunk to Sunrise Senior Living of Virginia. Pictured from left to right are Huntington Common Founder and Manager Doug Stockbridge along with former trustees Jay Chapin, Paul Dargis, Kennebunk Savings Bank President and CEO Joel Stevens, and former trustees David McConnell and Bill Gilpatric.
Courtesy photo
Since 1993, Kennebunk Savings Bank, a mutual bank, has contributed 10 percent of its earnings to charitable and nonprofit organizations in the communities of southern York County where it has offices.
At the $5 million celebration, Kennebunk Savings Bank President and CEO Joel Stevens also announced the establishment of a separate $3 million fund to benefit York County seniors. The fund, to be known as the Huntington Common Charitable Fund for Seniors of the Kennebunk Savings Bank Foundation, was founded as a result of the sale of the previously non-profit Huntington Common Retirement Living Facility of Kennebunk to Sunrise Senior Living of Virginia.
Huntington Common trustees, including David McConnell, Bill Gilpatric, Deborah Fitts, Jay Chapin and Paul Dargis, and Huntington Common Founder and Manager Doug Stockbridge, were determined to see that proceeds from the sale be set aside in a fund administered by an organization in touch with the needs of the York County community.
They chose the non-profit Kennebunk Savings Bank Foundation as the recipient.
Beginning in 2007, the Huntington Common Charitable Fund for Seniors of the Kennebunk Savings Bank Foundation will be making grants to nonprofit organizations benefiting York County residents aged 65 and over. A separate advisory group is being formed to make recommendations to the foundation. Other details on the specifics of the fund and how it will operate are still being finalized, although it is anticipated requests will be accepted beginning January 1.
Kennebunk Savings Bank, a past winner of the Maine Businesses for Social Responsibility Eagle Feather Award, is York County's leading financial institution. A community bank serving southern Maine for more than 135 years, it distributes 10 percent of its earnings each year to non-profit and charitable organizations through Kennebunk Savings and the Kennebunk Savings Bank Foundation. By the end of this year the Community Investment Program will have contributed a total of more than $5 million to charitable and non-profit organizations throughout York County through such initiatives as the annual customer ballot, the Starfish volunteer awards and other community grants.
Kennebunk Savings Bank's 12 banking offices include two in York, on Hannaford Drive and Woodbridge Road.
Kennebunk Savings has retail and business banking products and services and also offers personal and commercial insurance through its subsidiary, Morris Insurance Services, Inc. Kennebunk Savings Bank has earned the Finance Authority of Maine (FAME) Bank of the Year award three times and is a Small Business Administration (SBA) Preferred Lender.
