Farmington Savings Bank serves a diverse population that includes the Farmington Valley, as well as New Britain and across the Connecticut River to Glastonbury as part of a recent eastward expansion.
Giving back to the community is an important part of the bank’s ongoing success, according to John J. Patrick, chairman, president and CEO of Farmington Savings Bank.
“Go back to why banks were founded and it was to support their communities. We’re successful because our communities support us and we want to give back,” said Patrick.
A particular focus of the bank is affording opportunities for children regardless of their economic background. Patrick said at the end of the day, when one looks into a four-year old’s eyes, regardless of where they live, they all have the same opportunities. “They’re just four-year olds. You never know the changes our support could make in their lives,” he said.
A goal of all giving by the bank is to get the money where it makes the most impact and not to support a group’s operating costs. One example of that was a grant from Farmington Savings Bank that helped purchase an all-terrain vehicle for the Burlington Volunteer Fire Department. The vehicle will support fire operations and, more importantly, provide rapid access to Burlington firefighters in remote areas.
The bank is also focusing on helping low- and moderate-income families and children. That’s a driving force behind the bank’s third $1 million installment for a mortgage program for New Britain residents. It helps low- and moderate-income people become first-time homebuyers. “What’s also important is it helps them become successful homeowners through education,” said Patrick.
Another program the bank supports is bringing together Glastonbury and New Britain high school students to better understand the diversity of their backgrounds. “It makes for a better community and breaks down the barriers we have,” said Patrick.
None of the bank’s success at giving back to the community would be possible without the people working at the bank. “As CEO, I am most proud of the human capital we provide,” said Patrick, adding that employees provide countless hours to charitable efforts. An example of that would be last fall’s food drive. The customers and employees of Farmington Savings Bank donated enough nonperishable food items to fill two minivans recently for the benefit of Foodshare. Bank employees drove the collected foods as well as monetary donations to the Farmington Valley Turkey Trot. The bank and its employees also supported the 2nd Annual Farmington Rotary 5K Road Race held in September. Proceeds from the race will help register Farmington children in the Amber Alert Child ID Program and support other Rotary programs.
