12th anniversary of the bank's Community Dividend Program
Williamstown - Williamstown Savings Bank customers will help celebrate the 12th anniversary of the bank's Community Dividend Program (CDP) by casting votes to allocate funds to Northern Berkshire non-profit organizations beginning on October 1, according to an announcement by Stephen Crowe, President.Since 1996, Williamstown Savings Bank has committed to donating at least 10 percent of its annual after-tax income to community non-profit organizations through the Community Dividend Program, and has allocated more than $1.2 million. Williamstown Savings was the first bank in Massachusetts to establish such a guaranteed giving program.
The bank's officers and directors distribute 80% of the program's funds to charitable programs, capital development projects and other community events. In 2007, that included major donations to Northern Berkshire Healthcare, Hoosic River Watershed Association, Williamstown Theatre Festival, Williamstown Film Festival, Williamstown Community Chest, Williamstown Holiday Walk, the Clark Art Institute and the Fund for Williamstown.
The remaining 20% of CDP funds is allocated through customer voting. Each fall, customers are given an opportunity to cast a vote for the non-profit organization of their choice from a ballot that is mailed to homes and businesses, and distributed in the bank's lobby. In addition, customers can vote online through the bank's website (www.williamstownsavings.com). This year, votes will be accepted from Wednesday, October 1, through Tuesday, November 4 (Election Day).
In 2007, a record turnout of over 1,600 customers cast votes. Each customer vote represents a direct allocation to the organization selected. In 2008, bank customers will allocate more than $15,000 to local non-profits.
"This is a great opportunity for our customers to support their favorite community programs," Crowe said. "In this election, every vote really counts. There are 68 organizations on this year's ballot, which is our highest participation to date, and we hope all of our customers will take the opportunity to vote for the one they feel most deserves our support."
Crowe noted that results of the customer voting would be announced in November.
