Bank News, First County Bank Foundation

First County Bank Foundation Grants $165,277 To Stamford Nonprofits

The First County Bank Foundation recently distributed a total of $165,277 in grants to 18 nonprofits in Stamford targeting education, job training and nutrition programs benefiting youth and families.

“The First County Bank Foundation is honored to make these grants available to a number of important causes in the Stamford area,” said Rey Giallongo, president of the foundation and chairman and CEO of First County Bank. “On behalf of the bank’s employees and customers, I want to personally thank these organizations and the people who work with them for helping Fairfield County citizens. It’s not easy and many of us take for granted that others in the community volunteer their time to help others. All of us at First County Bank make sure to donate some of our time and money to bettering the lives of others.”

In 2011, the First County Bank Foundation awarded 108 grants totaling more than $591,000. This amount surpassed 2010’s record amount of donations. Including 2011’s numbers, the First County Bank Foundation has awarded a total of 562 individual grants, worth more than $4.7 million since the foundation was started in 2001.

Established in honor of the bank’s 150th anniversary, the First County Bank Foundation was created to distribute funds annually to nonprofit organizations that support community and economic development for children and families. As a mutual bank with no shareholders, First County Bank considers contributions made by the foundation a means of paying dividends back to the local communities it serves.

To be eligible for First County Bank Foundation grants, organizations must have nonprofit tax exempt status under section 501(c)(3) of the Internal Revenue Code; be located in Stamford, Darien, Greenwich, New Canaan, Norwalk or Westport; have community support; address community needs; have measurable outcomes; and demonstrate fiscal and administrative responsibility. Special consideration is given to those agencies or programs benefiting low to moderate income populations.

A list of Stamford-based organizations who received First County Bank Foundation grants this year is available at http://www.firstcountybank.com/press-releases/0.

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