SWANSEA – BayCoast Bank won this year’s top award for community service from the Independent Community Bankers of America, the organization announced Tuesday.
The group praised the Swansea-based bank’s “Get on the Bus” education initiative as exemplifying a core mission of small banks: economic empowerment of the communities they serve.
BayCoast used a refurbished school bus to visit schools and community events to bolster support for continuing education for South Coast residents. Under the initiative, the bank also donated more than $800,000, launched a financial education program with 14 area schools, and brought 800 seventh-graders on college tours of the University of Massachusetts.
The efforts garnered BayCoast the Grand National Award – the top honor of the 2018 National Community Bank Service Awards, announced in Washington, D.C.
BayCoast and other award winners were chosen from more than 100 banks nationwide, nominated for “their creative and impactful economic empowerment programs and service,” the group said.
Midwest BankCentre in St. Louis, Mo., and Kennebec Savings Bank in Kennebec, Maine, were this year’s winners of the National Award. Six other community banks – all in Midwest – received honorable mentions.
“Whether promoting financial education, reaching out to underserved communities, or helping to revitalize their Main Street, this year’s honorees represent community banking at its best,” the group said.
“Community service and volunteerism are hallmarks of community banking,” Rebeca Romero Rainey, the group’s president and CEO, said in a statement.
“We commend and thank these outstanding community banks and their employees for their unwavering dedication and commitment to ensuring the vitality of their communities and the financial health of local residents who call it home,” she said.
Scott Blake is a PBN staff writer. Email him at Blake@pbn.com.
