Bank News, First County Bank Foundation

Darien and New Canaan Nonprofits Receive $41,500 in Grants from First County Bank Foundation

The First County Bank Foundation recently distributed a total of $41,500 in grants to nine nonprofits in Darien and New Canaan. These grants will be used for emergency assistance, music and art, local transportation and other worthy causes benefiting families and children.

“Experience tells us that causes like these have the power to expand understanding and deepen community involvement,” said Rey Giallongo, president of the First County Bank Foundation and chairman and CEO of First County Bank. “Our goal at the foundation is to help these organizations and others like them build the next generation’s ability to live and work productively in our communities. We look forward to seeing the results of these agencies’ work benefit young and old alike.”

In 2011, the 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 589 individual grants, worth more than
$4.8 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.

Lists of both Darien and New Canaan-based organizations who received First County Bank Foundation grants this year are available at http://www.firstcountybank.com/press-releases/0.

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