NORWAY, ME – Leaders from Norway Savings Bank, Community Concepts Finance Corp and its parent company Community Concepts met to formalize a longstanding agreement between the two financial organizations that provides technical assistance and access to capital for businesses within the region.
“This signing is the embodiment of a 25-year working partnership with the express purpose of advancing both entities’ ability to assist more underserved businesses within the region,” said Dennis Lajoie, CEO of Community Concepts Finance Corp. Notable changes that will take place under the formal agreement include faster timelines for underwriting in joint lending ventures, streamlined inter-organizational referrals and increased access to educational assistance and business development services for applicants.
“Formalizing our partnership with Community Concepts Finance Corp will allow us to more effectively serve business owners in Maine by providing financing solutions to help local businesses grow and thrive,” said Patricia Weigel, President and CEO of Norway Savings Bank.
About Norway Savings Bank
Founded in 1866, Norway Savings Bank is a leading mutual banking and financial services company headquartered in Norway, Maine. As of September 30, 2015, Norway Savings Bank had $1.034 billion in total assets and provided financial services to over 38 thousand households throughout western and southern Maine. Norway Savings Bank has 24 branch locations and operates divisions in asset management, personal banking and business banking. In December 2014, BauerFinancial, Inc., the nation’s leading bank rating and research firm, honored Norway Savings Bank with its highest 5-Star rating for the last 100 consecutive quarters. In 2007 and 2008, Norway Savings Bank was recognized as one of the Best Places to Work in Maine by the Society for Human Resource Management’s Maine State Council. Norway earned the Financial Marketing Excellence Award from the American Bankers Association for its “Colorful Solutions” brand campaign in 2009. Most recently, Norway Savings Bank was awarded the 2013 Governor’s Award for Business Excellence, recognized as one of the 2013 Best Banks to Work For by American Banker and Best Companies Group, and distinguished as a Gold-Level Well Workplace by the Wellness Council of America (WELCOA). Norway also received the Gold-Level Well Workplace award from WELCOA in 2011. This award distinguishes Norway Savings Bank as one of the healthiest companies in America. For more information, visit www.norwaysavingsbank.com.
About Community Concepts
Community Concepts Finance Corp is a Non-profit lender certified by the U.S. Treasury as a Community Development Finance Institute (CDFI) with a mission to provide education and financial resources, including loans, for business and economic development activities in urban and rural low-income areas. With Offices in Lewiston and South Paris, CCFC provides educational opportunities for entrepreneurs, 1-on-1 counseling for business owners and access to capital that might otherwise not be available for start-ups and small businesses. More information can be found at www.MaineBusinessLending.com