BARRE— July 20, 2016 —Community organizations serving the Barre, Paxton and Princeton areas will be the focus of support from the newly created Barre Savings Charitable Foundation, a Fidelity Bank Endowment. Fidelity Bank, a Leominster-based community bank, merged with Barre Savings Bank in April. The foundation was established as part of the merger process, and was endowed by Fidelity Bank with $1.5 million.
“The wonderful organizations that serve people in these three communities can always use more money to do more,” said Edward F. Manzi, Jr. chairman & CEO of Fidelity Bank. “It is our intention that the foundation will provide funding for deserving local nonprofits in perpetuity.”
Former Senator Stephen Brewer was named president of the Barre Savings Charitable Foundation. A Barre resident, Brewer represented the area in the Massachusetts Senate from 1997 until his retirement in 2015. Previously, he was a state representative and a selectman in Barre.
The foundation will be controlled by an independent board of directors. The newly elected directors are John D. Brewer, Stephen Brewer, Brian Cirelli, Paul Cranston, Daniel Haynes, Ann Meilus, Thomas Mertzic, and Rebecca Tuttle.
“Fidelity Bank has shown its unstinting commitment to our community,” said Guy H. Boyer, former president and CEO of Barre Savings Bank. “The community supported the Barre Savings Bank for 146 years and Fidelity Bank is now supporting our community.”
Fidelity Bank has long been active in funding community organizations. It calls its program the LifeDesign Community Dividend. The bank paid a Community Dividend of more than $250,000 to over 150 community organizations, events, and causes in Central Massachusetts last year. The program, which is separate from the foundation, is part of the bank’s LifeDesign promise and mission to help improve the quality of life of its clients, communities, and employees.
About Fidelity Bank
Fidelity Bank – one of the oldest and continually growing independent, local community banks in Central Massachusetts – offers a full range of banking, investment, and insurance solutions across 10 full-service offices in Leominster (2), Worcester, Fitchburg, Gardner, Shirley, Barre, Millbury, Paxton, and Princeton.
Fidelity Bank believes that everyone – their clients, employees, and community members – deserve the opportunity to grow, improve, and realize their hopes and dreams. They do this through LifeDesign, their unique way of doing business and the promise they make to be caring, trusted friends and help their clients, employees, and community members get where they want to be.
Since 1888, the bank has continued this commitment to the businesses, families, and individuals in the communities it serves; in turn, loyalty demonstrated by members of these cities and towns has allowed the bank to become one of the strongest financial institutions in the region. As of April 30, 2016, Fidelity Bank has total assets of $775 million. The FDIC and the Share Insurance Fund insure 100% of all deposits. Equal Housing Lender. Member FDIC. Member SIF.
PHOTOCAPTION: Pictured (from left) are Edward F. Manzi, Jr. chairman and CEO, Fidelity Bank; Guy Boyer, former CEO, Barre Savings Bank; and John D. Brewer, board member, Barre Savings Charitable Foundation.