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People's United Community Foundation Awards $6,000 to MaineStream Finance in Bangor

December 20, 2013

BANGOR, ME – The People’s United Community Foundation, the philanthropic arm of People’s United Bank, announced today that it has once again awarded $6,000 to MaineStream Finance in Bangor, Maine.

Established by Penquis Community Action Program, MaineStream Finance is a not-for-profit Community Development Corporation and Community Development Financial Institution addressing the  needs of Maine’s low- and moderate-income populations. MaineStream Finance provides financial training and counseling to existing and start-up businesses, assists first-time homebuyers, and helps individuals understand the foreclosure process, budget planning, and how to repair bad credit.  

The funding from People’s United Community Foundation will support Incubator Without Walls, a microenterprise training and technical assistance program assisting entrepreneurs in starting or expanding a business with ten or fewer employees.jayne_peoples.jpg

"MaineStream Finance greatly appreciates the continued support of the People’s United Community Foundation.  These funds will be used to assist hundreds of small and micro-businesses in starting, expanding and growing successfully," said Jayne Crosby Giles, Chief Executive Officer of MaineStream Finance.

“We are pleased to be able to support MaineStream Finance in its efforts to meet the needs of small businesses,” said Bill Lucy, Officer of People’s United Community Foundation and President of People’s United Bank in Northern Maine. “MaineStream Finance provides a critical service to Maine businesses and is instrumental in the economic growth of our community.”  

Established in 2007, People’s United Community Foundation was formed to help support programs and activities that enhance the quality of life for citizens in the communities that People’s United Bank serves. People’s United Bank, founded in 1842 and serving customers from New York to Maine through a network of more than 400 branches, is the largest independent bank headquartered in New England. The Foundation places special emphasis on programs designed to promote economic self-sufficiency, education and improved conditions for low-income families and neighborhoods. The funding priorities of the Foundation include community development, youth development, and affordable housing.

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[Photo cutline: (left to right) Bill Lucy, Officer, People’s United Bank Community Foundation and President of People’s United Bank in Northern Maine delivers a $6,000 check to Jayne Crosby Giles, Chief Executive Officer, MaineStream Finance]

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