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 broaden 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 had been being bought by bigger banks. Choices had been being made by out-of-state of us, leaving the local people with out help for or concentrate on lending, jobs and extra. In response to that, a gaggle 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 had 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 right this moment.”
Over the previous three many years, Ledyard has given again in some ways, together with contests, giving workers paid day off 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 collaborating organizations every made a brief video primarily based 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 had been doing in the neighborhood and why they had been necessary,” Underwood says.
To additional enhance 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 tip of the competition, greater than 2,300 votes had been solid and the financial institution had awarded $30,000 throughout the ten nonprofits, with $10,000 going to the first-place winner.
In accordance with Underwood, individuals who noticed the movies confirmed their help in additional methods than simply voting. She says, “[The nonprofits] had been stunned at how many individuals in the neighborhood responded with not simply voting however writing a test.”
A historical past of help
This wasn’t the primary video contest that Ledyard Nationwide Financial institution has hosted. Previously, it’s used this tactic to help 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 concerning the 10 organizations is that every certainly one of 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 and marketing officer. “For this specific contest, we actually wished to concentrate on these organizations that had been supporting folks in the neighborhood who wanted it essentially the most from an financial standpoint.”
Individuals included Dismas of Vermont, a corporation devoted to integrating previously incarcerated folks into society; Higher Valley Haven, which offers momentary shelter and academic programming to homeless households; and West Central Behavioral Well being, which presents superior counseling and remedy to the group.
The cash might be spent at every of the organizations’ discretion. West Central Behavioral Well being, for instance, offers a lot of its providers without spending a dime. 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 help providers to folks no matter what they’re capable of 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 help providers.”
Seeking to the subsequent anniversary
Celone says the competition displays the financial institution’s dedication to service throughout the group. “They simply love the group, and so they wish to help nonprofits nonetheless they will and that feeling actually comes by way 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 completely 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.