Webster Funds Three New Programs, Expands Commitment to Nonprofits in Communities it Serves

Community giving increased by $1 million in 2018

News provided by

Webster Bank

Jan 08, 2019, 14:00 ET

WATERBURY, Conn., Jan. 8, 2019 /PRNewswire/ -- Webster Bank distributed an additional $1 million in community investment in 2018 to nonprofit organizations in the regions it serves. Webster developed three new programs, increased overall giving to current programs and added new nonprofit partners.

Continue Reading
Webster Bank’s $1 million increase in 2018 community giving enabled organizations like Junior Achievement to magnify its ability to provide school-based curriculum to students in K-12. Webster bankers volunteer thousands of hours each year sharing their professional skills and knowledge with JA, community food banks and numerous other nonprofits. (Pictured here are the more than 50 Webster Bankers who volunteered at the 2018 JA in a Day at Tinker School in Waterbury, Connecticut.)
Webster Bank’s $1 million increase in 2018 community giving enabled organizations like Junior Achievement to magnify its ability to provide school-based curriculum to students in K-12. Webster bankers volunteer thousands of hours each year sharing their professional skills and knowledge with JA, community food banks and numerous other nonprofits. (Pictured here are the more than 50 Webster Bankers who volunteered at the 2018 JA in a Day at Tinker School in Waterbury, Connecticut.)

"Investing in communities where we live and work is a hallmark of Webster's 83-year history," said President and CEO John R. Ciulla. "Alongside our values-driven, community-minded bankers, we strive to support at-risk populations by working with organizations to bring the greatest impact to build and strengthen our communities."

The new Webster Bank programs include:

  • Food Security Initiative: Feeding our Regional Food Banks 
    With a focus on food security, this new program provided grants to all Feeding America Regional Food Banks in the regions the bank serves. The grants included capital grants for job training initiatives and backpack programs to secure food for children who were without access to free lunch programs during summer break.
  • Financial Empowerment Program 
    Webster has always focused on the importance of financial literacy by supporting programs targeted to building capacity. In 2018, Webster augmented its investment in grants to nonprofits at the forefront of addressing financial literacy for low- to moderate-income residents. Working closely with its Community Reinvestment Act and Community Development officers, Webster provided grants to 13 nonprofit organizations in Connecticut, Massachusetts, Rhode Island and New York. Combining expertise with funding, Webster bankers will also share their professional skills and knowledge with these organizations to provide real-world experience.
  • Volunteer Recognition Grant Program 
    Webster bankers make a difference in our communities by engaging in volunteer activities that help improve the lives of individuals and families every day. To celebrate this commitment, the Community Affairs and Corporate CRA/Fair & Responsible Banking teams joined together to collect information about volunteer time through a new Volunteer Recognition Grant Program. With a focus on recognizing our Webster bankers, the new Volunteer Recognition Grant Program allows bankers to apply for micro-grants, ranging from $100 to $250, to benefit qualified nonprofits where they volunteer.

In addition to the new programs, Webster also increased giving to long-time partners. Helping a broad set of organizations build a strong and self-reliant community is at the heart of Webster's commitment. Making meaningful and consistent donations year over year can be most
helpful for nonprofits as they plan their budgets and programs.                        

Grants were awarded to all Junior Achievement chapters where Webster serves, magnifying their
abilities to provide school-based curriculum to K-12. As a result of an increase in donor pledging,
Webster's commitment to its United Way Workplace Campaign included an increase in the
corporate match in support of donor generosity. Funding for new and existing nonprofit partners also was dispersed throughout the year.

"In 2018, we were excited to expand Webster's giving with these new programs that help to stabilize communities through food security and financial empowerment, while creating a program that allows employees to direct Webster's giving to organizations that are meaningful to them," said Kathryn Luria, senior vice president, Community Affairs and Director of Philanthropy at Webster. "Utilizing these funds to broaden our reach to where it will make a difference was at the cornerstone of these efforts."

About Webster

Webster Financial Corporation is the holding company for Webster Bank, National Association and its HSA Bank division. With $27.3 billion in assets, Webster provides business and consumer banking, mortgage, financial planning, trust, and investment services through 157 banking centers and 319 ATMs. Webster also provides mobile and online banking. Webster Bank owns the asset-based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and HSA Bank, a division of Webster Bank, which provides health savings account trustee and administrative services. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com.

Media Contact:   

Investor Contact:

Elaine K. Ficarra, 203-578-2415                         

Terry Mangan, 203-578-2318                                     

[email protected]                                  

[email protected]

SOURCE Webster Bank

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

icon3
440k+
Newsrooms &
Influencers
icon1
9k+
Digital Media
Outlets
icon2
270k+
Journalists
Opted In
GET STARTED