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Guilford Savings Bank Establishes Charitable Fund in Madison

Pictured: Charles Havrda, Chairman of the Board for GSB, Timothy Geelan, incoming President & CEO, and Nancy Gerson, President of the Madison Foundation
Pictured: Charles Havrda, Chairman of the Board for GSB, Timothy Geelan, incoming President & CEO, and Nancy Gerson, President of the Madison Foundation

“Return on investment” is a term often used in the business world, but Guilford Savings Bank hopes more people will think about their local community as an investment as well.  “We want to make sure we have a solid foundation for the future of the shoreline” expressed Timothy Geelan, incoming President & CEO.  “Our community has been good to us for over 138 years, and it’s important to us that we give back.”

The Bank recently established a field of interest fund at the Madison Foundation to support scholarships as well as low-to-moderate income individuals and families in Madison, the general needs of the local community and the operating needs of the Foundation.

Charles Havrda, Chairman of the Board for GSB explained why establishing these funds was so important.  “We wanted to create a great future for our communities, but to do that we had to make an investment now.  Unlike typical donations, establishing a fund allows the respective foundations to grow the money and draw from it as needed, helping more people over time.”

Nancy Gerson, President of the Madison Foundation, states, “The Madison Foundation was pleased to create this fund. The establishment of this permanent resource for the Madison at the same time the Bank is renovating a new branch here in Madison demonstrates GSB’s commitment to our community.


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