Members of Ledyard Nationwide Financial institution assist to Keen Arms, a nonprofit devoted to feeding these in want.
For its thirtieth anniversary, Ledyard Nationwide Financial institution determined to ask 10 native nonprofits to enter a video about their work right into a contest for the chance to win $10,000 and broaden their visibility.
By Tiffany Lukk
When Ledyard Nationwide Financial institution in Hanover, N.H., was based 31 years in the past, it was throughout a time the place many group banks had been being bought by bigger banks. Choices had been being made by out-of-state people, leaving the area people with out assist for or deal with lending, jobs and extra. In response to that, a bunch of individuals got here collectively to discovered Ledyard Nationwide Financial institution.
“The idea of their imaginative and prescient was that we’d be dedicated to the group and frequently—so long as we had been round—give again to the group as in some ways as we may,” says Kathy Underwood, CEO of the $750 million-asset group financial institution. “It was the imaginative and prescient of our founders, and it stays a core of our values and our tradition at the moment.”
Over the previous three many years, Ledyard has given again in some ways, together with contests, giving workers paid day without work to volunteer and donating to quite a few native charities.
In honor of the group financial institution’s thirtieth anniversary final yr, it created a contest for 10 native nonprofits. The taking part organizations every made a brief video based mostly on the immediate, ‘What does group imply to you?’ Shared on Ledyard’s Fb web page, the movies served to focus on the work the nonprofits do and their significance to the group.
Group members may vote for his or her favourite video by reacting to it from Oct. 1–22.
“It gave them the chance to … use our energy and our social media to get their message on the market and allow them to inform their story of what they had been doing in the neighborhood and why they had been essential,” Underwood says.
To additional increase the nonprofits’ visibility, Ledyard Nationwide Financial institution promoted the movies in its branches, put adverts in native newspapers and paid for spots for representatives of these organizations to be interviewed on the radio.
By the top of the competition, greater than 2,300 votes had been forged and the financial institution had awarded $30,000 throughout the ten nonprofits, with $10,000 going to the first-place winner.
Based on Underwood, individuals who noticed the movies confirmed their assist in additional methods than simply voting. She says, “[The nonprofits] had been stunned at how many individuals in the neighborhood responded with not simply voting however writing a test.”
A historical past of assist
This wasn’t the primary video contest that Ledyard Nationwide Financial institution has hosted. Previously, it’s used this tactic to assist nonprofits that cater to low- and mid-income segments, for instance. And whereas deciding which nonprofits to ask to take part on this video contest, financial institution leaders assessed which sectors would profit most.
“The factor concerning the 10 organizations is that every one in all them is devoted to supporting the low- to mid-income segments of our inhabitants,” says Jeff Marks, Ledyard’s senior vp and chief advertising and marketing officer. “For this specific contest, we actually needed to deal with these organizations that had been supporting folks in the neighborhood who wanted it essentially the most from an financial standpoint.”
Contributors included Dismas of Vermont, a corporation devoted to integrating previously incarcerated folks into society; Higher Valley Haven, which gives short-term shelter and academic programming to homeless households; and West Central Behavioral Well being, which gives superior counseling and therapy to the group.
The cash might be spent at every of the organizations’ discretion. West Central Behavioral Well being, for instance, gives lots of its providers free of charge. Yearly, it gives about $600,000 price of charitable care that can not be reimbursed.
“We provide psychological well being and substance use and disaster assist providers to folks no matter what they’re capable of pay,” says Dave Celone, West Central’s director of growth and group relations. “The monies that we obtain from Ledyard … will go to assist individuals who can’t in any other case pay for psychological well being or substance use or disaster assist providers.”
Trying to the following anniversary
Celone says the competition displays the financial institution’s dedication to service inside the group. “They only love the group, they usually need to assist nonprofits nevertheless they’ll and that feeling actually comes by,” he says. “We like to work with them.”
“I’d suspect that for our thirty fifth anniversary,” says Marks, “we’re going to have quite a lot of glorious conversations, and we may do one thing very comparable, or we would do one thing fully new. We all know that we’re dedicated to doing these kinds of issues for the group.”
Tiffany Lukk is affiliate editor of Unbiased Banker.