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Community Giving
Instead of paying a stock dividend as stockholder-owned banks do, Northfield Savings Bank pays a community dividend. With NSB, you get 100% of the local bank you want, plus we donate 10% of profits to Vermont community organizations. We call this 110% Banking.
In disbelief, some skeptics may say, “When pigs fly!” But this is our way of doing business. Over the past 12 years alone, NSB has donated more than $5 million to local non-profit groups.
Simply by banking with NSB, you help make Vermont a better place to live and work. Thank you to our customers for helping make this community dividend possible.
Overview
Northfield Savings Bank donates approximately $300,000 per year to Vermont community organizations. One half of this amount is distributed through the NSB Foundation. The other half is distributed via branch donations, Community Gifts, and an Employee Matching program. NSB also makes in-kind donations of computer and technology equipment, and supports specific scholarship and community events.
Financial Donations
NSB donates to non-profit community organizations in many ways:
- Branch donations: These tend to be in the $25 to $200 range, and are specific to a particular branch’s community. Request these from your local Branch Manager.
- Community Gift donations: These tend to be in the $500 to $1500 range, with a handful ranging up to $3,000. These are distributed via a quarterly review process by the Marketing Department. Community Fund donations are intended to serve the broader community where NSB serves – Central Vermont and Chittenden County. To apply, please review our Community Gift Guidelines, Application, and Quarterly Review Calendar below.
- Employee Matching program: NSB supports employees in their community service efforts by offering a 100% matching donation of up to $1,000 per employee, per year to eligible non-profit organizations.
- NSB Foundation grants: Following an in-depth study of other philanthropic models around the country, the NSB Foundation initiated a multi-year, single-issue funding focus in an effort to create long-term results. Beginning in the fall of 2006, the Foundation partnered with the Vermont Campaign to End Childhood Hunger (VTCECH) to expand access to healthy meals in Central Vermont and Chittenden County. The NSB Foundation is not able to consider any other requests at this time.
For more information click here
In-Kind Donations
NSB donates used computer equipment, office equipment and furniture to Vermont community organizations.
Other Donations - Education Scholarships and
Northfield Community Events
NSB also supports some specific educational and cultural initiatives:
- NSB Founders Award: Established in 1993 in honor of the Reverend Edward J. Bourns, Ph.D., 5th president of Norwich University from 1850-1865 and founder of the Northfield Savings Bank in 1867. The scholarship is awarded to a student with demonstrated financial need within the service communities of the Bank. Contact Kristin Fontaine, Norwich 485-2282.
- NSB/NU Scholarship: Established in 1994 by Northfield Savings Bank and the Norwich University alumni and Vermont business leaders who participate in the annual NSB/NU Golf Tournament. The scholarship is awarded to two students who live in the service area of the Northfield Savings Bank. Contact Kristin Fontaine, Norwich 485-2282.
- Seaver Fund: Created in honor of former NSB President Leslie G. Seaver and his work in helping develop Northfield’s community auditorium, the fund supports artistic, cultural, educational and scientific events within the Northfield community. Contact Carol A. Seaver at The Seaver Fund, c/o Northfield Savings Bank, P.O. Box 347 Northfield, VT 05663.
NSB Community Fund Guidelines, Application, and Review Calendar
As a community financial institution, Northfield Savings Bank has a responsibility to support organizations and activites contributing to the economic and social well being of the Vermont communities it serves.
NSB's Charitable Giving Policy is designed as a guide for the selection of recipients, and to establish the breadth and scope of contributions. It also provides a framework assuring the fair and objective evaluation of funding candidates.
Northfield Savings Bank will:
- Contribute to charitable or non-profit organizations with a 501(c)3 designation, not to individuals.
- Contribute to Vermont-based nonprofit organizations serving the needs of and benefiting people living within its service area of Central Vermont and Chittenden County.
- Give priority to programs meeting the human service and housing needs of low to moderate income individuals, and programs supporting job development.
- Consider the severity of need, the level of funding available from other sources and the likelihood the requested donation will help accomplish desired outcomes.
Generally, organizations and activities meeting the established criteria will fall into the following categories:
- Healthcare and human services
- Education
- Job development
- Housing
- Programs for at-risk or low to moderate income individuals and families
- Performing arts and cultural activities
- Environmental and preservation
NSB generally will not contribute to:
- Multi year capital facility or endowment campaigns
- National charities, or their local affiliates
- Municipalities or subdivisions thereof, such as school districts and recreation departments or organizations receiving the majority of their funding from governmental sources
- Private schools (pre-school, primary and secondary)
- Special interest groups such as political, labor, religious, fraternal, veterans lobbying organizations, or service clubs
- Multiple requests within the same calendar year
Application and Approval Process
Click here to download the Application.
An annual budget approved by NSB's Board of Trustees establishes the maximum level of charitable contributions for the ensuing year. Branch Managers are authorized to approve up to $1,200 in donations annually, in increments of $200 or less. The Marketing Department is authorized to approve requests up to $3,000.
Northfield Savings Bank will accept written requests only. Complete applications will be reviewed on a quarterly basis. You will be notified in writing of your approval or denial according to the schedule below.
| Applications Received |
Date of Review |
Response |
| October 1 - December 31 | January 15 | January 31 |
| January 1 - March 31 | April 15 | April 30 |
| April 1 - June 30 | July 15 | July 31 |
| July 1 - September 30 | October 15 | October 31 |
Completed application forms should be mailed to:
Northfield Savings Bank
Attention: Donations
33 South Main Street
P.O. Box 347
Northfield VT 05663-0347
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