NEW BEDFORD – Fall River Five Cents Savings Bank, also known as BankFive, financed the purchase of a multifamily home at 17 Campbell St. that is expanding housing capacity for Veterans Transition House, the bank announced Monday.
The acquisition marks the first expansion of the organization’s housing stock since its $10 million campus buildout in 2020 and increases total residential capacity to 85 units for formerly homeless veterans.
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The purchase also expands housing options for veterans with children and female veterans, which officials said were previously limited within the organization’s existing properties.
Supported by BankFive and a grant from Foundation 214, the deal completes a full city block of Veterans Transition House properties, creating a defined veterans campus that includes the Anthony C. & Salvatore H. Alfiero Outreach Center across the street.
Officials said the expansion will strengthen services for veterans transitioning out of homelessness, with improvements planned for the newly acquired building and surrounding campus.
“We appreciate the opportunity to work collaboratively with the seller who, as a veteran himself, agreed that 17 Campbell St. was an important addition to the Veterans Transition House mission and master site plan,” said Michael Nash, who led the project.
BankFive CEO and President Anne P. Tangen said the bank is proud to support the effort.
“VTH has long been an integral pillar of our community, providing housing and support services for homeless veterans,” Tangen said. “We value working alongside community nonprofits such as VTH and look forward to continuing our partnership.”
BankFive also provided a $5,000 grant for meals and outreach services and is sponsoring the 2026 Veteran of the Year Award and dinner.
The bank operates 18 locations across Massachusetts and Rhode Island and is celebrating its 170th anniversary.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
