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SNBT grants $35K to non-profits

Stephenson National Bank & Trust applied for a grant through the Federal Home Loan Bank of Chicago, and included its own funds for the grants.
Dan Peterson with Mary Reinke, volunteer, and Pete Mayhew, Treasurer, is helping a family displaced from a fire with housing and living expenses.
Dan Peterson with Mary Reinke, volunteer, and Pete Mayhew, Treasurer, is helping a family displaced from a fire with housing and living expenses.(SNBT)
Published: Oct. 15, 2020 at 5:35 PM EDT
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STEPHENSON, Mich. (WLUC) - The COVID-19 pandemic has affected everyone, but some have been more impacted than others.

The Stephenson National Bank & Trust (SNBT) applied for a grant through the Federal Home Loan Bank of Chicago (FHLB) on behalf of area organizations that provide affordable housing.

Just over half of the funding came from FHLB through its COVID-19 Targeted Impact Fund, and SNBT provided the remaining $15,000 to make up the $35,000 total.

“This pandemic has left us all in uncharted territory. Our non-profit organizations are struggling from a lack of revenue as a result of missed fundraisers,” said Daniel J. Peterson, SNBT President and CEO. “Being able to invest this money back into the community is an honor for our entire team at SNBT. We cannot thank these groups enough for their tireless work in our communities, and we hope this contribution can help them continue making an impact.”

SNBT, with the assistance of FHLB, presented grants totaling $35,000 to the following non-profits: Haven of Hope, Newcap Inc., Rainbow House Domestic Abuse Services Inc., Salvation Army, St. Vincent de Paul Society - St. Joseph Conference, and St. Vincent de Paul Society of Marinette.

This is the second round of grant donations that SNBT and FHLB have collaborated to provide. The first was in May, which totaled $40,000 to 20 area non-profits. Aside from monetary donations, SNBT has been focused on making an impact on the community through a variety of other methods. Read about the depth of the bank’s community commitment by visiting www.snbt.com/community-impact and www.snbt.com/business-spotlight to see the businesses that have been assisted by SNBT throughout the pandemic.

The Stephenson National Bank & Trust is a 145-year old independent community bank with over $1 billion in Bank, Mortgage, and Trust & Investment assets under management. Offices are located in Marinette, Wausaukee, Crivitz, Pembine, and Oconto, Wis. and Menominee, Mich. with a Trust & Investment Office in Marquette, Mich. and a Commercial Loan Services Office in Green Bay, Wis. For more information about The Stephenson National Bank & Trust visit www.snbt.com.

The Federal Home Loan Bank of Chicago’s Targeted Impact Fund provides members with grants to support relief efforts for populations hardest-hit by COVID-19 as well as to promote equity and opportunity for communities of color. The Targeted Impact Fund opened on Monday, August 17, with funding available through Tuesday, November 10.

For more information, visit fhlbc.com.

Copyright 2020 WLUC. All rights reserved.

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