2021 Community Impact Report
From the President & CEO
We invite you to read our Community Impact Report!
This past year we have seen a change in the banking landscape with various mergers and acquisitions across the state. We remain focused on our steadfast commitment to helping support our local communities. The Bank continued to offer support to our nonprofit sector, aiding in their ability to fulfill their mission statements and initiatives throughout the community.
As we began to return to a new normal throughout this past year, our ongoing programs and initiatives were in full swing.
Our Foundation held its annual grant cycle in three phases to ensure all needs of the community are being met across the towns we serve.
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Total Foundation Assets
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Total Foundation Giving
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Total Bank & Foundation Giving
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Foundation Giving Since Inception
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Total Organizations Impacted
Bank Initiatives to Support the Community
COVID-19 RELIEF
The staff at Thomaston Savings Bank were wonderful to work with and made the process of applying for both of our PPP loans & forgiveness very easy. We were most impressed that Thomaston Savings Bank made the time and effort to assist us through the whole process when our own main bank was unwilling to do so.
– Mark Kovitch, Chief Financial Officer, New Opportunities Inc.
This has been the most trying time in our history and it was a great relief to know that the bank was there to assist us in any way possible with our application process. The PPP loan gave us the opportunity to maintain our staff and continue to operate our family business. We are a success story in the small business arena, as we were able to survive a very tumultuous year, with the help of Thomaston Savings Bank and their outstanding staff our journey was possible. We are extremely grateful to have Thomaston Savings Bank in our corner.
- Barbara Zajko, Comptroller, Stephen Auto Mall Centre
The experience we had getting a PPP loan through Thomaston Savings Bank was amazing!! We started the process with a much larger bank who lacked communication. We hadn’t done business with Thomaston Savings Bank prior, but Antonella and Patricia welcomed us as if we were long time, loyal customers. They walked us through every step of the process from applying for the loan, to applying for forgiveness and then receiving forgiveness! We are now FOREVER customers and friends!
– Jacki, Farmington Pediatric & Adolescent Medicine, LLC
PPP Loans
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PPP Loans Closed
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PPP Loans Forgiven
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iFi UNIVERSITY
Thomaston Savings Bank introduced iFi University, a free online tool that offers financial resources including: articles, courses, infographics and more. This platform encourages users to better their financial wellness through a library of different informative topics. The Bank has united with local agency partners to encourage the adoption of this free resource to help those who are struggling with their financial wellness as well as utilizing it for educational outreach programs.
The Boys & Girls Club of Greater Waterbury has been running a program called Money Matters for many years now for our middle school and high school members. Now that we have been introduced to the iFi University platform, it has made our program run a lot smoother. The most important thing is that it is such an easy website to navigate. It has a wide range of topics to cover, like ‘choosing a school and understanding cost’ to ‘creating a budget.’ This information is very beneficial to kids, no matter what route they take once they graduate high school
– Drew Postupack, Director of Operations, Boys & Girls Club of Greater Waterbury
With iFi University users have access to:
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Personalized tips and insight
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Quizzes to test your financial fitness
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Relevant articles to increase your financial wellness
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Engaging courses to help you reach your goals
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Infographics that breakdown complex topics
My customer was thrilled when I contacted her about the Uncommon Account. She previously had not qualified because she owed another institution money from an incident years prior. She was elated to have the Bank give her a second chance.
– Rob Fuhrman, Branch Manager, Thomaston Savings Bank
UNCOMMON ACCOUNT
Thomaston Savings Bank was thrilled to launch a new product, the Uncommon Account, the first Bank On Certified product offered by a Connecticut mutual community bank. This account is unique in that it only requires $10 to open, has no minimum balance requirement, no monthly maintenance fee, and most noteworthy, overdraft or non-sufficient fund fees will never be assessed. The goal of this product is to help serve those who remain outside of the mainstream banking system. Without a bank account, individuals and families are left spending valuable resources on unnecessary fees for alternative financial services, like payday loans, and struggle to build their savings. The Bank is pleased to be able to offer products and services that can help accommodate challenges that people in our community have faced at other institutions.
Foundation
The Thomaston Savings Bank Foundation was created in 1997 to identify and fulfill the needs of the community by distributing funds to local organizations in the towns we serve. The Foundation is proud to have granted over $8.2 million in funding since its inception, allowing us to stay true to our mission of giving back to our communities.
To best serve the community the Foundation hosts its grant cycle in three phases, considering applications from local nonprofit and government agencies in support of the following focus areas: arts & culture, community development, education and youth services, health and human services, and public safety.
Thomaston Savings Bank has been an incredible partner with the Kids of Summer Foundation. Our organization’s goal is to provide accommodating child care and encourage kids to get outside, get off their electronics and have fun. We are extremely grateful for the steadfast support from the Bank and the Foundation. We are also grateful for employees who have participated in our events, especially our Penguin Plunge.
– Jon Sheaffer, Founder & Co-Chair, The Kids of Summer Foundation
The Learning Center in Terryville is always so appreciative of the Thomaston Savings Bank Foundation. They have supported our endeavors throughout the years whether it was to get some IT equipment or upgrade our phone systems, and we’re very thankful for that.
– Lorainne Freidman, President of the Board, Terryville Learning Center
The Thomaston Savings Bank Foundation has helped us continue our mission to provide a high-quality private school education to our students, most of whom come from disadvantaged, low-income families. The Bank’s generosity helps our students “beat the odds” by providing CCS with resources it needs to ensure these children perform at a high level as they move on in their education. Historically, at least 94% of CCS graduates go on to complete high school on time as compared to 68% graduation rate for Waterbury Public School students. That’s thanks, in part, to Thomaston Savings Bank’s investment in our school and its mission.
– Michael Patrick, Director of Development, Children’s Community School
Phase I Hartford County
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Phase II Litchfield County
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Phase III New Haven County
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Total Fuel Grants Donated
Thank you for all the Bank does for their local communities. You make such a difference in the lives of so many people. Blessings to all of you at Thomaston Savings Bank.
– Becky Adkins, Bronc Callahan Community Fund
FUEL GRANTS
The Thomaston Savings Bank Foundation awarded $25,000 in fuel assistance grants throughout the community to 10 organizations across the towns we serve. These grants are utilized to provide assistance to those unable to afford essential utilities and in times of hardship.
This project infused my team with the much-needed motivation to ensure the 4,100 meals we served were prepared as fresh and healthily as possible while making the menus different and enjoyable. It was truly our honor to be a part of this and look forward to being a part of this community endeavor in the future.”
– Rick Kerzner, Emily’s Catering Group
COMMUNITY KITCHEN PROJECT
The Community Kitchen Project is a Bank initiative that coordinated food preparation and delivery through a selection of our foodservice customers to provide meals to organizations that focus on crisis intervention and food security in the community. This Project provided business to an industry that was heavily impacted by COVID-19, while also helping to ensure that the selected non-profits were able to feed their guests during these hard times.
- Emily’s Catering Group, LLC
- 150 Central, LLC
- The Goose & The Gander, Inc.
- Patti’s Place, LLC
- Greater Waterbury Interfaith Ministries
- Community Kitchen of Torrington
- Prudence Crandall Center
- Brian’s Angels Homeless Outreach
- Safe Haven of Greater Waterbury
- St. Vincent DePaul Mission of Waterbury Shelter
- FISH (Friends in Service to Humanity Torrington Shelter)
- Susan B. Anthony Project – Torrington
- St. Vincent DePaul Mission of Bristol
#MoreThanBankers
At Thomaston Savings Bank, our employees are more than bankers. They actively seek out opportunities to get involved in the community through various organizations and causes.
Bank employees, Officers and Board Members sit on 68 local Boards and Committees.
- American Cancer Society Relay for Life
- United Way of Northwest CT
- Boys & Girls Club Bristol Family Center
- Boys & Girls Club of Greater Waterbury
- Bristol Health
- Bristol Hospital Foundation
- Bristol Preschool & Childcare
- Bristol Rotary Scholarship Fund
- Central CT Chamber of Commerce
- Children's Community School
- Connecticut Bankers Association
- Connecticut Bar Foundation
- Connecticut Community Bankers Association
- Connecticut Society of CPAs
- Environmental Learning Centers of CT
- Farmington Public Schools Foundation
- Fine Arts Connection of Thomaston
- Friends of the Thomaston Opera House/Restoration Committee
- Goshen Congregational Church
- Greater Waterbury Chamber of Commerce
- Holy Cross High School
- Imagine Nation
- Immanuel Lutheran Church
- Knights of Columbus Atlantic Council #18
- Landmark Community Theatre
- Lions Club District 23 B
- Lions Club of Naugatuck
- Literacy Volunteers of Greater Waterbury
- Main Street Community Foundation
- Mattatuck Museum
- New Foundations, Inc.
- Northfield Volunteer Fire Company
- NW Chamber of Commerce
- Pine Grove Cemetery Association
- Plainville Chamber of Commerce
- Plymouth Community Food Pantry
- Rotary Club of Terryville
- Rotary Club of Thomaston
- Safe Haven of Greater Waterbury, Inc.
- Shepard Meadow Equestrian Center, Inc.
- St. Mary Magdalen School
- St. Mary's Hospital Foundation, Inc.
- Terryville Lions Club
- Terryville Women’s Club
- The Central CT Chamber of Commerce
- The Hop Brook Tennis Club
- The Paige Batten Memorial Scholarship
- The Salvation Army Litchfield Hills Unit
- Thomaston COVID Emergency Committee
- Thomaston Democratic Town Committee
- Thomaston Economic Development Commission
- Thomaston Public Library
- Thomaston Rotary Scholarship Investment Committee
- Torrington Chapter of UNICO
- Torrington Winsted Rotary
- Town of Litchfield Board of Ethics
- Town of Thomaston - COVID Committee
- TriTown Youth Baseball & Softball
- United Way of Greater Waterbury
- United Way of West Central CT
- Waterbury Public Schools
- Waterbury Regional Chamber Business Women's Forum
- Waterbury Regional Chamber of Commerce
- Watertown Rotary Club
- Watertown H.S. Boys Swim & Dive Team
- Wolcott Circle of Sports
- YPOWR
- American Cancer Society Relay for Life
- United Way of Northwest CT
- Boys & Girls Club Bristol Family Center
- Boys & Girls Club of Greater Waterbury
- Bristol Health
- Bristol Hospital Foundation
- Bristol Preschool & Childcare
- Bristol Rotary Scholarship Fund
- Central CT Chamber of Commerce
- Children's Community School
- Connecticut Bankers Association
- Connecticut Bar Foundation
- Connecticut Community Bankers Association
- Connecticut Society of CPAs
- Environmental Learning Centers of CT
- Farmington Public Schools Foundation
- Fine Arts Connection of Thomaston
- Friends of the Thomaston Opera House/Restoration Committee
- Goshen Congregational Church
- Greater Waterbury Chamber of Commerce
- Holy Cross High School
- Imagine Nation
- Immanuel Lutheran Church
- Knights of Columbus Atlantic Council #18
- Landmark Community Theatre
- Lions Club District 23 B
- Lions Club of Naugatuck
- Literacy Volunteers of Greater Waterbury
- Main Street Community Foundation
- Mattatuck Museum
- New Foundations, Inc.
- Northfield Volunteer Fire Company
- NW Chamber of Commerce
- Pine Grove Cemetery Association
- Plainville Chamber of Commerce
- Plymouth Community Food Pantry
- Rotary Club of Terryville
- Rotary Club of Thomaston
- Safe Haven of Greater Waterbury, Inc.
- Shepard Meadow Equestrian Center, Inc.
- St. Mary Magdalen School
- St. Mary's Hospital Foundation, Inc.
- Terryville Lions Club
- Terryville Women’s Club
- The Central CT Chamber of Commerce
- The Hop Brook Tennis Club
- The Paige Batten Memorial Scholarship
- The Salvation Army Litchfield Hills Unit
- Thomaston COVID Emergency Committee
- Thomaston Democratic Town Committee
- Thomaston Economic Development Commission
- Thomaston Public Library
- Thomaston Rotary Scholarship Investment Committee
- Torrington Chapter of UNICO
- Torrington Winsted Rotary
- Town of Litchfield Board of Ethics
- Town of Thomaston - COVID Committee
- TriTown Youth Baseball & Softball
- United Way of Greater Waterbury
- United Way of West Central CT
- Waterbury Public Schools
- Waterbury Regional Chamber Business Women's Forum
- Waterbury Regional Chamber of Commerce
- Watertown Rotary Club
- Watertown H.S. Boys Swim & Dive Team
- Wolcott Circle of Sports
- YPOWR
CAN DO CREW
The Thomaston Savings Bank Can Do Crew volunteers to benefit a wide variety of non-profit organizations throughout our community. From donating time, money and resources our employees are dedicated to giving back for a good cause. Employees participated in 25 projects over the course of the year.
EMPLOYEE GIVING
Thomaston Savings Bank employees are dedicated to making an impact throughout their community, whether it is volunteering as a team or seeking out projects on their own. Their consistent involvement throughout the course of this year holds true to our collective goal of working to make the community the best place to work and live. Employees volunteered with 171 organizations throughout the year.
Total Volunteer Hours
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Denim Days
The Bank’s Denim Days allow employees to wear jeans on Fridays throughout the month for a small donation to a preselected local non-profit that provides vital services to our community. If employees donate a total of $1,000 or more throughout the month, the Bank donates an additional $1,000 to the organization.
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St. Vincent De Paul Father Cascia
Service Award
We were honored to have been awarded the Father Cascia Service Award by St. Vincent DePaul Mission of Waterbury for our volunteerism and community support. This recognition is a true testament to the hard work both the Bank and our employees put in towards volunteering and giving back to the community.
Our good work is only accomplished as a team effort. The entire community is a part of our Mission, and the support we have received from Thomaston Savings Bank has been remarkable. The award is a reflection of our appreciation for your ongoing support to us and those we serve. It is our pleasure to provide you with this award. We thank you for your support and sponsorship.
– Gary Beaulieu, Executive Director, St. Vincent DePaul Mission of Waterbury
Not only does Thomaston Savings Bank conduct a top-20 United Way annual workplace campaign, but their employees are always one of the first to raise their hand to volunteer for initiatives such as our annual Stock the Pantry summer food drive and fall Day of Caring. They are not only a responsible corporate partner, they are a passionate corporate partner! It is inspiring to know United Way can always count on Thomaston Savings Bank to help our community be the best it can be!
– Tomeka Cole, Chief Development Officer, United Way of Greater Waterbury
United Way
Locations We Donate To:
Thomaston Savings Bank is proud to support local United Way organizations in their efforts to provide basic needs, education and financial stability to every person in the community.
Thomaston Savings Bank employees donated over $40,000 to the 2021 United Way’s Annual Workplace Campaign. The Bank saw 90% employee participation, with an increase in donations by 25%.
Employees collectively donated over 700 healthy food items weighing 707.6 pounds to the United Way of Greater Waterbury’s Stock the Pantry Campaign. This campaign distributes food to those in need throughout the local community.
The United Ways’ Day of Caring is an initiative to engage area businesses and individuals to come together for the common good of the community, assisting non-profits with various projects such as landscaping, painting, inventory and general cleanup.
United Way of West Central CT’s Day of Caring
Employees participated in the United Way of West Central CT’s Day of Caring in May, assisting in Shepard Meadows Equestrian Center’s trail clean up.
United Way of Waterbury’s Day of Caring
Bank employees also volunteered at the United Way of Greater Waterbury’s Day of Caring helping a local YMCA with an indoor painting project.
Workplace Culture
Thomaston Savings Bank was ranked as one of Connecticut’s Top Workplace for the 7th consecutive year. We are proud to have created and established a strong workplace culture where our employees feel rewarded in their roles inside the office and outside in the community.
Employee Achievements
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Connecticut School of Finance Management, Graduate
Melissa Cipriano
Officer, Contact Center Manager -
Connecticut School of Finance Management, Graduate
Tony Sanchez
AVP, Secondary Market and Loan Processing Manager -
New England Leadership Development Program
Rene McGovern
VP, Commercial Credit Manager -
New England Leadership Development Program
Patryk Krakowski
VP, Regional Manager -
Central CT Chamber of Commerce Leadership Training Program
D’arcy Flaherty
Customer Service Associate -
Residential Mortgage Lender Certificate
Nancy Soto
Mortgage Loan Originator - Trainee -
Commercial Lending School, Graduate
Rachael Gagnon
Commercial Loan Administration Assistant -
Commercial Lending School, Graduate
Dante Cancellaro
Commercial Credit Analyst -
ABA Bank Marketing School, Graduate
Whitney Cadett
VP, Marketing Officer -
Certified Community Bank Security Officer
Patrick Quinn
SVP, Chief Information Officer
Thomaston Savings Bank employees continue to work hard in bettering themselves through furthering their education and professional development programs.
We are proud to celebrate their achievements and encourage all employees to take advantage of these opportunities to benefit their professional and personal growth.
Connecticut School of Finance Management, Graduates
Melissa Cipriano
Officer, Contact Center Manager
Tony Sanchez
AVP, Secondary Market and Loan Processing Manager
New England Leadership Development Program
Rene McGovern
VP, Commercial Credit Manager
Patryk Krakowski
VP, Regional Manager
Central CT Chamber of Commerce Leadership Training Program
D’arcy Flaherty
Customer Service Associate
Residential Mortgage Lender Certificate
Nancy Soto
Mortgage Loan Originator - Trainee
Commercial Lending School, Graduates
Rachael Gagnon
Commercial Loan Administration Assistant
Dante Cancellaro
Commercial Credit Analyst
ABA Bank Marketing School, Graduate
Whitney Cadett
VP, Marketing Officer
Certified Community Bank Security Officer
Patrick Quinn
SVP, Chief Information Officer
Total Community Giving
Routing #: 211174259