For its thirtieth anniversary, Ledyard Nationwide Financial institution determined to ask 10 native nonprofits to enter a video about their work right into a contest for the chance to win $10,000 and develop their visibility.
By Tiffany Lukk
When Ledyard Nationwide Financial institution in Hanover, N.H., was based 31 years in the past, it was throughout a time the place many group banks have been being bought by bigger banks. Choices have been being made by out-of-state people, leaving the area people with out assist for or concentrate on lending, jobs and extra. In response to that, a bunch of individuals got here collectively to discovered Ledyard Nationwide Financial institution.
“The premise of their imaginative and prescient was that we might be dedicated to the group and regularly—so long as we have been round—give again to the group as in some ways as we might,” says Kathy Underwood, CEO of the $750 million-asset group financial institution. “It was the imaginative and prescient of our founders, and it stays a core of our values and our tradition at the moment.”
Over the previous three many years, Ledyard has given again in some ways, together with contests, giving workers paid break day to volunteer and donating to quite a few native charities.
In honor of the group financial institution’s thirtieth anniversary final yr, it created a contest for 10 native nonprofits. The taking part organizations every made a brief video based mostly on the immediate, ‘What does group imply to you?’ Shared on Ledyard’s Fb web page, the movies served to spotlight the work the nonprofits do and their significance to the group.
Group members might vote for his or her favourite video by reacting to it from Oct. 1–22.
“It gave them the chance to … use our energy and our social media to get their message on the market and allow them to inform their story of what they have been doing locally and why they have been essential,” Underwood says.
To additional increase the nonprofits’ visibility, Ledyard Nationwide Financial institution promoted the movies in its branches, put advertisements in native newspapers and paid for spots for representatives of these organizations to be interviewed on the radio.
By the top of the competition, greater than 2,300 votes have been solid and the financial institution had awarded $30,000 throughout the ten nonprofits, with $10,000 going to the first-place winner.
In line with Underwood, individuals who noticed the movies confirmed their assist in additional methods than simply voting. She says, “[The nonprofits] have been shocked at how many individuals locally responded with not simply voting however writing a verify.”
A historical past of assist
This wasn’t the primary video contest that Ledyard Nationwide Financial institution has hosted. Up to now, it’s used this tactic to assist nonprofits that cater to low- and mid-income segments, for instance. And whereas deciding which nonprofits to ask to take part on this video contest, financial institution leaders assessed which sectors would profit most.
“The factor in regards to the 10 organizations is that every one in all them is devoted to supporting the low- to mid-income segments of our inhabitants,” says Jeff Marks, Ledyard’s senior vice chairman and chief advertising officer. “For this specific contest, we actually wished to concentrate on these organizations that have been supporting individuals locally who wanted it essentially the most from an financial standpoint.”
Members included Dismas of Vermont, a company devoted to integrating previously incarcerated individuals into society; Higher Valley Haven, which offers short-term shelter and academic programming to homeless households; and West Central Behavioral Well being, which affords superior counseling and therapy to the group.
The cash shall be spent at every of the organizations’ discretion. West Central Behavioral Well being, for instance, offers a lot of its providers totally free. Yearly, it offers about $600,000 value of charitable care that can not be reimbursed.
“We provide psychological well being and substance use and disaster assist providers to individuals no matter what they’re in a position to pay,” says Dave Celone, West Central’s director of improvement and group relations. “The monies that we obtain from Ledyard … will go to assist individuals who can’t in any other case pay for psychological well being or substance use or disaster assist providers.”
Trying to the subsequent anniversary
Celone says the competition displays the financial institution’s dedication to service inside the group. “They only love the group, they usually need to assist nonprofits nonetheless they’ll and that feeling actually comes by means of,” he says. “We like to work with them.”
“I’d suspect that for our thirty fifth anniversary,” says Marks, “we’re going to have a number of wonderful conversations, and we might do one thing very comparable, or we would do one thing solely new. We all know that we’re dedicated to doing most of these issues for the group.”
Tiffany Lukk is affiliate editor of Impartial Banker.