Bar News - August 17, 2012
NH Bar Foundation: IOLTA Leadership Bank Spotlight – Mascoma Savings Bank
The New Hampshire Bar Foundation, on behalf of the NH legal community, thanks Mascoma Savings Bank for its steadfast support of the Interest on Lawyers Trust Accounts program, and its participation as a Leadership Bank in 2012.
A Leadership Bank...
a bank that contributes to the success of the IOLTA program by offering interest rates of 2 percent or more on IOLTA accounts. The bank may also waive certain service fees.
Mascoma Savings Bank’s Impact
Marilyn McNamara, a NH Bar Foundation board member and past NHBA president, congratulates Stephen F. Christy, president and CEO of Mascoma Savings Bank, on a decade’s worth of participation as an IOLTA Leadership Bank.
With the revenue earned through the IOLTA Program, Mascoma Savings Bank helped more than 19,000 residents receive critical civil legal services in the fiscal year ended May 31,2011. These services alleviate poverty and suffering and help the communities served by your bank, and indeed all of us living in this state. IOLTA accounts at Mascoma Savings Bank generated $58,653 in the past fiscal year in interest revenue for the Bar Foundation to be used for charitable purposes.
Mascoma Savings Bank has been an IOLTA Leadership Bank since June 2002 and, in the past decade, accounts at Mascoma Savings Bank earned $628,917 for IOLTA
You Should Know...
Mascoma Savings Bank was founded in 1899, and now has 18 locations throughout central Vermont and in New Hampshire. NH locations include Canaan, Enfield, Hanover, Lebanon, Lyme, New London and West
Bank of New Hampshire
Community Guaranty Savings Bank
Mascoma Savings Bank
Meredith Village Savings Bank
Merrimack County Savings Bank
Passumpsic Savings Bank
Sugar River Bank
As a mutually owned financial services company committed to exceeding the expectations of our customers, community and employees, we provide knowledgeable service and convenient access to a broad array of financial products and services. For generations, Mascoma Savings Bank has served the banking needs of our neighbors. Local families and businesses turn to us because we’re local people living and working right here.
We offer a full range of personal and business accounts and services as well as investment services, financial planning, and insurance for individuals, families and businesses.
Why participation as an IOLTA Leadership Bank is important:
"Mascoma Savings Bank is a mutually owned community bank with no stockholders. This allows us to focus on what is in the best interest of our customers and our community. We have been participating in the NH IOLTA program since 1990. Participating as a Leadership Bank is another way for us to serve the needs of our communities and ensure our moderate to low income neighbors continue to be provided for through the efforts and outreach of the multiple non-profits in our area."