Meredith Village Savings Bank (MVSB) and Merrimack County Savings Bank (the Merrimack), sister Banks and subsidiaries of New Hampshire Mutual Bancorp, have each donated $50,000 to establish a permanent fund at the New Hampshire Community Loan Fund. The $100,000 gift was placed in the Community Loan Fund’s lending pool, and will be used many times over to finance local housing financing needs.
“We’re incredibly grateful to the Merrimack and MVSB for championing our efforts to help underserved people and families become self-sufficient and gain financial independence,” said Juliana Eades, Community Loan Fund President. “It’s wonderful to be able to count on our corporate neighbors. We’ve thrived for as long as we have because donors feel good knowing their money is used wisely, responsibly and for maximum impact.”
The Community Loan Fund encourages participation in New Hampshire’s economy by providing financial and educational tools that help clients attain affordable homes, quality jobs and child care. This is done through loans as well as capital and technical assistance, and by complementing and extending the reach of conventional lenders and public institutions.
“Merrimack County Savings Bank is proud to support the NH Community Loan Fund, as they’ve made a tremendous difference in the quality of life for our friends and neighbors,” said Philip Emma, President of the Merrimack. “It is for this reason that the Bank has partnered in various ways with the Community Loan Fund over the past 30 years.”
“It’s our pleasure to offer any assistance we can to further local housing opportunities,” said Rick Wyman, President of Meredith Village Savings Bank. “This permanent fund will have a significant impact for those who need affordable housing, which is a vital part of building communities.”
Established in 1983 in Concord, NH, the Community Loan Fund was one of the first Community Development Financial Institutions in the United States. The Community Loan Fund was founded on the belief that many people with low incomes can become more self-sufficient if they have access to fair sources of credit. The Community Loan Fund has loaned more than $220 million to thousands of New Hampshire individuals, organizations and employers. Nearly every project was a collaboration with a variety of donors and lenders, including banks and other business, nonprofit and government partners. For more information about the New Hampshire Community Loan Fund, visit communityloanfund.org.
Since 1869, MVSB has been serving the people, businesses, non-profits and municipalities of Central NH. MVSB and its employees are guided by the values of accountability, mutuality, excellence, respect, integrity, teamwork and stewardship. To learn more, visit any of the local branch offices located in Alton, Ashland, Center Harbor, Gilford, Hampton Falls, Laconia, Meredith, Moultonborough, Plymouth or Wolfeboro, call 800.922.6872 or visit mvsb.com.
The Merrimack is celebrating its 150th year anniversary of serving the people, businesses, non-profits and municipalities of the greater Concord and Nashua regions since 1867. The Merrimack and its employees are guided and inspired by Merrimack style: living up to the values of accountability, mutuality, excellence, respect, integrity, teamwork and stewardship. To learn more, visit any of the local offices in Concord, Nashua, Bow, Contoocook or Hooksett, call 800.541.0006 or visit themerrimack.com.
New Hampshire Mutual Bancorp, a mutual holding company, was formed in 2013 when two New Hampshire-based community banks, MVSB and the Merrimack formally affiliated – the first relationship of its kind in New Hampshire. This strategic partnership has positioned the Banks to leverage each other’s strengths as they work together to advance a shared vision of maintaining and enhancing their community banking standards and values. MillRiver Wealth Management joined as a third subsidiary of NHMB in 2015, combining the financial advisory divisions of MVSB and the Merrimack. NHMB combined assets total more than $1.6 billion.