START COMMUNITY BANK RECEIVES BANK ENTERPRISE AWARD

START COMMUNITY BANK RECEIVES BANK ENTERPRISE AWARD

Start Community Bank to announce this prestigious award at a press conference to be held at the Bank’s main branch, 299 Whalley Avenue, New Haven, at 1:00pm on Thursday, January 10.

Senator Richard Blumenthal (D-CT) joins William H. Placke, President & CEO of Start Community Bank, in announcing that Start Community Bank was one of only 59 FDIC-insured financial institutions in the country—and the only bank in the Northeast—to earn a Bank Enterprise Award from the Community Development Financial Institutions Fund. The Fund distributed an aggregate of $18 million to these institutions. The official notice of the award issued by the CDFI reads as follows:

“The Bank Enterprise Award Program (BEA Program) awards FDIC-insured depository institutions for making investments in the most distressed communities throughout the nation. The Bank Enterprise Awards are ‘reinvested in low-income and distressed communities, supporting new jobs, stronger small businesses, and more financial education and banking services for neighborhoods across the country,’ said CDFI Fund Director Donna J. Gambrell.”

Start Community Bank was selected to receive an award of $287,834 through the FY 2012 round of the BEA Program for its support of affordable housing development by providing affordable housing development loans and project investments, small business loans and project investments, and commercial real estate loans and project investments in distressed communities in New Haven, Connecticut. Start Community Bank also accepted deposits from, and provided financial services to, low- and moderate-income residents.”