Helping local businesses build up our community.
We believe that local businesses and entrepreneurs are the foundation of a strong economy and a vibrant community. This belief was one of the driving factors for the single-charter consolidation of our two banks — a step that increases commercial lending capacity and our ability to offer solutions as competitive and creative as the entrepreneurs we serve. In this partnership with combined resources, we have been able to work with businesses on larger and more complex opportunities in both the private sector and within community development efforts.
A great example of a successful collaboration between both Biddeford Savings and Mechanics Savings is the development of the former Scarborough Downs into a mixed-use development. The Downs will become home to a modern town center, balancing residential areas with recreation, retail, and commercial development. It is through our alliance that we were able to provide the financing to construct Mill Commons, a 48-unit condominium development at The Downs.
Supporting local organizations that are shaping the future of our community.
Service comes in many forms, and that includes community service and charitable giving to hundreds of organizations in the communities we serve. Over this past year, Biddeford Savings and Mechanics Savings collectively contributed $23,000 for scholarships to local area high school students pursuing higher education. Both banks are also strong supporters of our local United Way organizations and contribute tens of thousands of dollars each year in employee and corporate contributions.
Of the many ways we give back to our communities, our employees’ volunteerism is one of the most important and most meaningful. Our team members donate thousands of hours of their time each year, from teaching financial literacy programs to volunteering at local food pantries, offering ongoing support to over 250 organizations in Central and Southern Maine. Our employees also serve as community leaders of non-profit boards and committees and volunteer their time at organizations they are personally passionate about.