Banks, as the cornerstone of a lot of communities, are often asked for donations, gifts, and sponsorships in the communities they serve. In fact, it’s an expectation that a bank gives back to its community. Such expectations are not only those of community citizens and the employees of the institution but also mandated, to a degree, by the Community Reinvestment Act.
Giving is nothing new to LSB as we are prompted to give by one of our major core values: Passionate Community Stewardship! I dare say that in our 100+ years of existence LSB has given millions of dollars away to enhance the quality of life in the communities that we serve. In order for LSB to better represent our communities and desire to “give back” or “pay it forward,” the LSB Foundation was born on March 2, 2005. The mission of the foundation is to fulfill our desire to be good community stewards by providing the organization’s major philanthropic gifts. The foundation also serves as a mechanism through which requests can be made and given adequate consideration.
Lincoln Savings Bank is an employee-owned organization, and the foundation was set up to allow the broad participation of our employees in the process. In addition to making bank gifts, the foundation encourages the associates to give as well. The matching program offered by the foundation allows all of our associates to participate in charitable giving with the potential of a 1:1 match which certainly enhances the employee’s gift to the organization of their choice. The grant review committee, which reviews and recommends all grants, is also comprised of directors and associates on a rotating term of service to encourage and emphasize our total commitment to giving. Lastly, representative members of the grant review committee are considered based on their locations and divisions within the bank so we are able to represent all of our markets and various disciplines.
Utilizing the LSB Foundation, we truly try to “walk the walk” and give back to the communities that have been so supportive of LSB throughout the years.
Lincoln Savings Bank, Member FDIC
