Merrimack County Savings Bank (The Merrimack) is promoting the growth and development of Overcomer Refugee Services with a pledge of $28,600. Made possible through the New Hampshire Community Development Finance Authority (CDFA), the contribution will help the nonprofit expand their programs and community economic development efforts.
“Clement and the team at Overcomers go above and beyond to help the immigrant community adapt to a new way of life,” said Linda Lorden, President of The Merrimack. “We’re grateful for the invaluable services they provide and proud to support their mission.”
Through capacity building effort, Overcomers will explore micro-business development for refugees, transitional housing through partnerships and establishing worker co-ops.
“I’m so thankful for all the support we have received from The Merrimack,” said Clement Kigugu, Executive Director, Overcomers Refugee Services. “This donation will help us continue to grow and expand our efforts over the next two years.”
The Merrimack not only provides financial assistance to the nonprofit, they also host financial literacy courses for the immigrant community. Rachel Perri, RVP Branch Manager, alongside Brittany Saucier, AVP Branch & Business Development Manager, have been working with new Americans to help familiarize them with banking in the United States.
Overcomers Refugee Services is a nonprofit that empowers refugees and new Americans to become successful, contributing members of New Hampshire society. Through charitable donations, Overcomers is able to provide social services to men, women and children through trained volunteers. To learn more about the nonprofit or to get involved, visit overcomersnh.org.
CDFA tax credits allow businesses to fund qualifying economic or community development projects in exchange for a tax credit that can be applied against state business tax payments. The tax credits are administered by the New Hampshire CDFA. Any business with operations in New Hampshire that contributes to a CDFA tax credit project receives a New Hampshire state tax credit worth 75 percent of their contribution. The credit can be used over a period of five years to reduce the business’ state tax liability (business profits, business enterprise, or insurance premium taxes). The tax credit program allows New Hampshire businesses to use their state tax dollars to support local projects that they care about. CDFA reviews many project applications each year, and awards tax credits to those they determine are feasible and will make the biggest impact on economic development in the state. Visit nhcdfa.org for more information.