FDIC’s highest rating
We’re proud that we’ve achieved the FDIC’s highest “Outstanding” rating for lending, service, and investment for the three most-recent three-year Community Reinvestment Act (CRA) assessment periods.
We achieved this rating because of our strong record of helping to meet the credit needs of the communities we serve, including individuals and small businesses in low- and moderate-income neighborhoods.
The FDIC deemed us Outstanding in not only making significant investments in affordable housing and economic development, but also community lending, with excellent penetration in our market area. The examiners noted we deliver innovative and flexible lending and financial solutions while achieving compliance with all federal and state community reinvestment, fair lending, equal credit opportunity, and consumer protection regulations.
The FDIC reconfirmed our excellent performance in the Accessibility of Delivery Systems and Community Development Services, and cited our leadership in community development and financial education initiatives.
Giving back to our communities
In 2023, we awarded nearly $1.05 million to 355 Maine nonprofits and employees volunteered over 4,000 hours. $750,000 was granted in 2023 and $305,500 will be distributed in the form of multi-year grants.
Geographic priorities
We direct our resources first to organizations located in our branch communities, and secondly to organizations serving Androscoggin, Cumberland, Oxford, Sagadahoc and York Counties in Maine.
Target Categories
Our financial resources are focused on the following four categories:
Education & Financial Literacy
We provide support for programs that promote continuing education and financial literacy for children and adults of the communities we serve.
Economic Development and Job Creation
We provide support for programs that actively assist in the economic development, job creation and revitalization of the business community.
Civic and Cultural Initiatives
We provide support for initiatives that promote the quality of life for local citizens and cultural infrastructure of our communities.
Low–to-moderate income households
We provide support for programs that provide assistance to low-to-moderate households in our defined geographic market.
Restrictions
Our Community Giving program generally does not provide support for individuals or individuals raising money for a cause (e.g. walkathons); political organizations or candidates for political office; religious organizations or activities for sectarian purposes, unless they are for the benefit of a community service that we would otherwise support; or organizations that are national, international or that cannot designate funds to stay within our geographic region.
Donation designations and project selection guidelines
Our goal is to supply resources to projects and organizations that provide long-term benefits to our community. The challenge we face is that we consistently receive more requests than can be supported. Because of that, we prioritize our giving to ensure that our dollars are invested wisely.
We review each request and select projects and causes that:
- Offer direct relevance to our Community Contributions and Investment Program focus
- Impact our geographic target
- Impact one of the four key categories
- Stimulate community awareness and involvement and increase support from both public and private sectors
- Support community reinvestment
Types of contributions
Norway Savings Bank provides support to community organizations in two ways:
- Donations are grants made to non-profit and not-for-profit organizations. Norway Savings Bank does not receive any tangible benefit (e.g. advertising, entertainment, banner or booth display, etc.) for the gift.
- Sponsorships are grants to help organizations raise money and promote our presence in the community. Sponsorships may include purchasing tickets to fundraising events; purchasing a hole in golf tournament fund-raiser; or advertising in newsletters, event programs or playbills.
To apply
Submit a written request for consideration and deliver to a local NSB branch, or mail it to:
Norway Savings Bank
Attn: Marketing
PO Box 347
Norway, ME 04268
