Bank customers to allocate $50,000 in grants

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NAUGATUCK — For the third straight year, customers of Naugatuck Savings Bank will help decide which local charities receive a portion of $50,000 in grant money.

The Naugatuck Savings Bank Foundation has commenced its Third Annual Community Awards Program, which is open to each bank customer to cast one vote for any local non-profit or charitable organization they would like to recommend to receive grant money.

“As a leading corporate citizen, we believe we have a responsibility to help the communities we live in by assisting non-profit organizations meet their funding needs” said Mark Yanarella, chairman and CEO of Naugatuck Savings Bank, in a prepared release. “We value the opinions of our customers so our foundation wants them to help us determine what local organizations are most deserving of grant money.”

Customers can vote online at www.naugatucksavingsbank.com or in any of the bank’s branch offices. Voting is open through March 31. The votes will be tabulated in April and organizations with the required 1 percent of total votes will receive a proportional share of the $50,000 with a maximum award of $5,000 per organization. Also, there will be a special award of $500 to six randomly selected eligible organizations that receive less than the required 1 percent of the votes.

Last year the foundation awarded grants to 35 local charities under this program.