A culture of commitment to local communities
Machias Savings Bank is first and foremost a community based bank. And quite frankly, you can't take the community out of what we do. Founded in1869, our business has depended on individuals and organizations working together to build sustainable and thriving communities across Maine. By putting individuals in their first homes, lending to businesses, and keeping a watchful eye on savings, we've helped to enhance the places we call home each and every day.
Today, with over a billion dollars in assets and 250 employees across 17 locations, we remain committed to working together and giving back. It's part of our culture. In fact, it's fundamental to our vision and value.
We're especially proud of our volunteer program, which provides 20 hours of paid time to every full-time employee to help a non-profit. This past year you could find Machias Savings Bank employees coaching Little League teams, working in animal shelters, supporting teachers in schools and giving out food to those in need. In fact, in 2015 we reached a new record: over 7,354 hours donated to our communities.
Machias Savings Bank focuses much of its volunteer effort on education and our youth, two cornerstones of sustainable communities. We are particularly devoted to promoting financial literacy and are actively involved in such programs as Teach a Child to Save Day and Junior Achievement. Our signature program is called Future Promises, a job fair that raises the aspirations of rural elementary students by exposing them to exciting career possibilities. We are passionate about developing entrepreneurial skills and workforce development, providing training in secondary schools as well. We also provide resources, such as educational seminars, booklets on How To Do Your Banking, and scholarships.
As a bank, we also believe that investing matters, therefore we're thoughtful about how and where we invest our charitable resources. We focus on local organizations that can truly impact communities and are capable of making change happen. In 2015, we donated nearly $500,000 across Maine to hundreds of non-profits. Our giving is often targeted to low and moderate income areas, earning us the distinction of "Outstanding" in our recent Community Reinvestment Act examination. In addition to our giving, in 2016 we are partnering with Waterfront Concerts to launch a new non-profit called Music Matters to provide additional resources to school music programs.
Another aspect of giving back is providing opportunities to those less fortunate. Machias Savings Bank works diligently to advance affordable housing, promote job creation, provide community service and stimulate economic development in low to moderate income areas.
Machias Savings Bank's entire Community Impact Program is built on the premise that together, we can have a positive impact on the welfare of our communities. Our community involvement and employee engagement are key reasons why we've been voted as one of the Best Places to Work in Maine for 8 years in a row by our employees. In 2015, we were ranked #17 on American Bankers Top 50 Banks to work for in the Nation.
Member FDIC. Equal Housing Lender.