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ABOUT US:
May 2006 Maine
Bank & Trust Invests $100,000
Maine Bank & Trust has recently made a $100,000.00 investment in the Genesis Community Loan Fund. The Fund helps communities throughout Maine develop affordable housing and economic and social opportunities that benefit some of the State's most vulnerable populations. The Genesis Fund, dba Genesis Community Loan Fund, is a statewide nonprofit organization that was founded in 1991 and is based in Damariscotta, Maine. Genesis provides innovative financing by soliciting low-interest loans from individuals, churches, corporations and foundations, and then re-lending the money to nonprofit organizations developing affordable housing and community facilities in underserved neighborhoods and needy communities. Recently, the Genesis Fund made a loan that will allow United Cerebral Palsy of Maine to purchase a house for five individuals with disabilities and will make the achievement of a high school diploma possible for a young man who has been confined to a nursing home. The Fund has also helped a local child care center to purchase a building to enable the center to serve children and families with specialized services. In April 2006 The Genesis Fund was awarded a $300,000 grant by the US Department of Agriculture's Rural Community Development Initiative (RCDI) to provide resources vital to the long-term development and sustainability of eight of Maine 's year-round island communities including Cranberry Isles, Chebeague, Isle au Haut, Islesboro, Monhegan, North Haven, Long Island, and Vinalhaven. Working in partnership with Genesis, each of the existing non-profit community organizations on these islands will use the funds to build and promote the development of affordable housing, improve community services and stabilize the year-round population base. Maine Bank & Trust is celebrating its 15 th year as a Maine State chartered commercial bank and trust institution with twelve branch locations in Cumberland, York and Androscoggin Counties. . |