Belmont savings bank and belmont schools team up to raise funds for school books

At the unveiling of the Belmont Education Rewards Checking, which was held on Tuesday, Jan 25, the Belmont Savings Bank has joined hands with Belmont Schools where it will offer its support and partner with the Foundation for Belmont Education to raise additional funds to purchase textbooks for schools as well as other curriculum material.  This account has been designed for this purpose.

A $5,000 check was presented by Robert Mahoney, President & CEO, Belmont Savings Bank to Dr. George Entwistle, Superintendent, Belmont Public Schools and Lynne Polcari, President, Foundation for Belmont Education.  This was the first contribution to begin the new fund.  Mahoney was quoted as saying that they were proud of these meaningful partnerships that have helped foster the community at large.  He also stated that they were continuously exploring various possibilities to make a difference.

This has come as a boon especially at a time where most of the Belmont Public Schools have been facing elimination of staff and programs, cut down in class sizes etc.  This funding by the Belmont Education Rewards Checking Account will help bridge the gap in the budget by creating another avenue for banks and customers to offer support to their community.

Belmont Education Rewards Visa debit card as well as free checks will be given to the customers who enroll in this program.  These debit cards and checks that are offered in this program would be quite unique and will bear the photo of the Belmont Town Hall.

There are dual benefits here as the bank will make a contribution by depositing the first $50 into the customer’s new account with Belmont Education as well as make another $50 as a donation for each new rewards checking account that is opened.

In addition to this another quarter of 1% of the Belmont Savings account’s average monthly balance would be directly transferred to the Foundation for Belmont Education.  These funds collected through donations would be processed by the bank and will be distributed semi-annually to those nonprofit organizations in order to support the schoolbook fund.

Entwistle was quoted as saying that the budget for textbooks had decreased considerably since the last several years.  This seems to be an innovative way to help during tough times and they appreciated this support that has been received from the Belmont Savings Bank as well as the community at large, Entwistle stated.