The Cooperative Bank of Cape Cod announced the launch of a new foundation — The Cooperative Bank of Cape Cod Foundation Trust. The “Coop Foundation” was officially launched last night at a celebration at The West End restaurant, during which $45,000 in grants were distributed to local, non-profit organizations.
“The Coop Foundation will allow us to expand upon the bank’s 97-year tradition of giving back to the community,” said Lisa Oliver, President and CEO of The Cooperative Bank of Cape Cod. “The Coop Foundation brings an additional component to our Charitable Giving Program and solidifies and formalizes our commitment to give back to the community. While we’ll continue to sponsor events and organizations through the Bank’s Corporate Giving, The Foundation will extend and increase the reach of our philanthropy by providing earmarked funds that will increase as the assets of the Trust grows, regardless of the net earnings of the Bank.”
Grants will be given to 501(c)(3) organizations that enhance quality of life through programs and initiatives that meet the fundamental needs and challenges of people in the communities the bank serves. To that end, the Bank has identified five core areas of impact that will be considered for grants initially: economic development and self-sufficiency, community vitality and sustainability, thriving youth and families, education and learning, and health and human care.
Four initial grants were awarded last night during the reception in Hyannis to organizations across the Cape that qualify for at least one of the areas of impact. The grants included:
- $5,000 to the Boys Scouts of America Cape & Islands Council to fund a new Welcome and Education Center at historic Camp Greenough in Yarmouth. Additionally, The Foundation pledged to donate an additional $5,000 each year for the following four years.
- $10,000 to The Cotuit Center for the Arts. This will support the Center’s Capital Campaign to redevelop the campus and build upon the newly purchased 1.5 acres. Additionally, The Foundation pledged to donate an additional $10,000 each year for the following four years.
- $25,000 to The Falmouth Housing Trust to fund renovations and repairs at the Gerald Flynn House.
- $5,000 to The Lower Cape Outreach Council, which supports families on the Lower Cape struggling financially.
“The mission of The Coop Foundation is simple and in-line with our history of giving — to create vibrant and thriving communities,” said Oliver. “Giving back to the communities where we work, play and live, is at the heart of everything we do. This is an exciting next chapter in that tradition.”
“Cape Cod & Islands Council Boy Scouts of America is thrilled to be a beneficiary of The Cooperative Bank of Cape Cod’s new foundation,” said Michael Riley, Scout Executive. “Their support for our capital campaign to build a Welcome and Education Center at Camp Greenough will enable us to expand our existing programs and provide a better resource for outdoor education to the entire community.”
Added Karen Bissonnette, Executive Director of the Falmouth Housing Trust: “Falmouth Housing Trust is very honored and grateful to be a recipient of a grant from The Cooperative Bank of Cape Cod’s Foundation. This grant will help us with much needed renovations and upkeep to The Gerald Flynn House, which provides housing and case management to individuals who are chronically homeless with substance abuse disorders.”
The Foundation is accepting grant applications online at www.mycapecodbank.com/charitablegiving and will consider up to one application per 12-month period from a single non-profit group.
About The Cooperative Bank of Cape Cod
The Cooperative Bank of Cape Cod is an independent, local, mutual community bank with over $900 million in assets and over 170 employees. Established in 1921, the bank is committed to investing in the Cape Cod community where we live and work. The bank is headquartered in Hyannis with branches on Route 6A in Yarmouth Port, East Dennis and West Barnstable; in Sandwich at 275 Cotuit Road; in Hyannis at 695 Attucks Lane in Independence Park; in East Harwich at 1470 Orleans Road/Route 39; in North Falmouth at 660 North Falmouth Highway; in Falmouth at 238 Worcester Court; and in Marstons Mills at 3878 Falmouth Road. For more information, please visit www.mycapecodbank.com, www.facebook.com/mycapecodbank, or call 508.568.3400.