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FHLB BOSTON HONORS BATH SAVINGS INSTITUTION FOR AFFORDABLE HOUSING, AWARDS GRANT TO TEDFORD HOUSING
FHLB BOSTON HONORS BATH SAVINGS INSTITUTION FOR AFFORDABLE HOUSING, AWARDS GRANT TO TEDFORD HOUSING
Bath Savings Institution Matches $2,500 Award
Boston (September 10, 2015) – In recognition of Bath Savings Institution’s commitment to affordable housing, the Federal Home Loan Bank of Boston awarded a $2,500 grant to the nonprofit of Bath Savings’ choice, Tedford Housing. Tedford Housing is dedicated to ending homelessness in midcoast Maine and is the primary provider of shelter and related services in Lincoln and Sagadahoc counties, Cumberland County south to Freeport, and Androscoggin County north to Lisbon.
“The Federal Home Loan Bank of Boston is deeply invested in New England, and through programs like the Affordable Housing Program and Grants for New England Partnerships, we work closely with members like Bath Savings Institution to make their communities stronger,” said President and CEO Edward A. Hjerpe III.
FHLB Boston’s Affordable Housing Program, now in its 25th year, is funded each year with 10 percent of its net profit. FHLB Boston has awarded $248 million in subsidies and $211 million in low-interest advances to fund more than 980 housing initiatives and nearly 27,000 housing units. Grants for New England Partnerships recognizes the importance of partnerships among FHLB Boston, its member financial institutions, and their community-based organizations.
“Bath Savings selected Tedford Housing as the GNP nonprofit grant recipient because of their commitment to ending homelessness by providing shelter and creating supportive housing options for those most at risk,” said Glenn L. Hutchinson, President and CEO, Bath Savings Institution. “We are very pleased to be able to support their efforts with this gift from the Federal Home Loan Bank and an additional matching gift of $2,500 from Bath Savings.”
About the Federal Home Loan Bank of Boston
The Federal Home Loan Bank of Boston is a cooperatively owned wholesale bank for housing finance in the six New England states. Its mission is to provide highly reliable wholesale funding and liquidity to its member financial institutions in New England. The Bank also develops and delivers competitively priced financial products, services, and expertise that support housing finance, community development, and economic growth, including programs targeted to lower-income households.
About Bath Savings Institution
Bath Savings Institution has been banking on the coast of Maine for over 160 years. Nine full-service banking offices are located from Damariscotta to South Portland. Information is available at bathsavings.com, on Facebook at facebook.com/BathSavings, or by calling 800-447-4559.
To learn more about the Affordable Housing Program and the Grants for New England Partnerships program please visit fhlbboston.com.
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