Ion Bank Foundation Reaches Milestone With $7.5M In Awards

From the Ion Bank Foundation: Since its inception in 1998, the Ion Bank Foundation has awarded $7.5 million in grants and community awards throughout the towns they serve. In 2019, the Ion Bank Foundation made 122 grants to 144 agencies totaling $580,000. In addition, the Foundation awarded $70,000 to 170 organizations through its annual Community Awards Program (CAP).

“It gives us great pleasure to assist so many organizations in their efforts to improve lives in the communities we serve," said Kathleen McPadden, executive director of the Ion Bank Foundation.

David Rotatori, Ion Bank’s President and CEO added “As a true community bank, we are interdependent with the people and other businesses in our community, helping each other rise up and stay strong. Serving our customers and being an exemplary corporate citizen has been our primary mission, for 150 years!”

The foundation awards discretionary grants to charities twice a year, in May and October, and through customer voting February and March for the Community Awards Program. The foundation made grants to organizations who focus in the areas of health, education, economic development, human and social services, and the arts. A few of the larger grants made this year include; $10,000 to the Salvation Army, $10,000 to the Naugatuck YMCA, $7,500 to Brass City Harvest, $25,000 to the Naugatuck Historical Society, and $8,500 to the Children’s Community School.

This press release was produced by the Ion Bank Foundation. The views expressed here are the author's own.