A first! Community banks create permanent fund for affordable housing

Merrimack County Savings Bank (the Merrimack) and Meredith Village Savings Bank (MVSB), sister banks and subsidiaries of New Hampshire Mutual Bancorp, have each donated $50,000 to establish a permanent fund at the New Hampshire Community Loan Fund. The $100,000 gift was placed in the Community Loan Fund’s lending pool, and will be used many times over to finance local housing needs.

“We’re incredibly grateful to the Merrimack and MVSB for championing our efforts to help underserved people and families become self-sufficient and gain financial independence,” said Community Loan Fund President Juliana Eades. “It’s wonderful to be able to count on our corporate neighbors. We’ve thrived for as long as we have because donors feel good knowing their money is used wisely, responsibly and for maximum impact.”

From left, Philip Emma, President of Merrimack County Savings Bank; Juliana Eades, President of NH Community Loan Fund; Deborah Butler, NH Community Loan Fund Board Chair; and Rick Wyman, President of Meredith Village Savings Bank.
From left, Philip Emma, President of Merrimack County Savings Bank; Juliana Eades, President of NH Community Loan Fund; Deborah Butler, NH Community Loan Fund Board Chair; and Rick Wyman, President of Meredith Village Savings Bank.

The Community Loan Fund encourages participation in New Hampshire’s economy by providing financial and educational tools that help clients attain affordable homes, quality jobs and child care. This is done through loans, as well as technical assistance, and by complementing and extending the reach of conventional lenders and public institutions.

“Merrimack County Savings Bank is proud to support the N.H. Community Loan Fund, as they’ve made a tremendous difference in the quality of life for our friends and neighbors,” said the Merrimack President, Philip Emma. “It is for this reason that the bank has partnered in various ways with the Community Loan Fund over the past 30 years.”

“It’s our pleasure to offer any assistance we can to further local housing opportunities,” said Meredith Village Savings Bank President Rick Wyman. “This permanent fund will have a significant impact for those who need affordable housing, which is a vital part of building communities.”

The Merrimack is celebrating its 150th-year anniversary of serving the people, businesses, nonprofits and municipalities of the greater Concord and Nashua regions. The Merrimack and its employees are guided and inspired by Merrimack style: living up to the values of accountability, mutuality, excellence, respect, integrity, teamwork and stewardship. To learn more, visit its website or any of the local offices in Concord, Nashua, Bow, Contoocook or Hooksett,or call (800) 541-0006.  

Since 1869, MVSB has been serving the people, businesses, non-profits and municipalities of Central N.H. MVSB and its employees are guided by the values of accountability, mutuality, excellence, respect, integrity, teamwork and stewardship. To learn more, visit its website or any of the local branch offices located in Alton, Ashland, Center Harbor, Gilford, Hampton Falls, Laconia, Meredith, Moultonborough, Plymouth or Wolfeboro, or call (800) 922-6872.