West Warwick, R.I., January 19, 2018 – Centreville Bank has provided Providence-based Capital Good Fund with a $260,000 loan and an additional $10,000 grant from the Centreville Bank Charitable Foundation.
The $260,000 loan will be used as permanent working capital to fund Capital Good Fund’s lending program for personal loans in low-income Rhode Island communities, and the $10,000 grant supports Financial Coaching Plus, the organization’s financial counseling and training services.
“Capital Good Fund provides critical services for Rhode Islanders who are working hard to improve their personal credit, and make their lives better for themselves and their families,” said Scott Sheppard, Vice President, Commercial Lending. “We are pleased to be able to support two legs of their mission – lending and financial education – through our Commercial Lending Department and our Charitable Foundation.”
“Centreville Bank’s multifaceted support of Capital Good Fund’s mission means that we can continue to grow, innovate, and change lives,” said Andy Posner, the nonprofit’s Founder and CEO. “The loan to our loan fund enables us to make small-dollar personal loans for things like the purchase or repair of a vehicle, and security deposits for low-income individuals and families. The grant provides funding for our one-on-one financial and health coaching program. We are grateful for the support from Centreville Bank as we seek to serve the community.”
Photo (L-R): Scott Sheppard, Centreville Bank, and Andy Posner, Capital Good Fund.
About Centreville Bank:
Founded in 1828 and headquartered in West Warwick, Rhode Island, Centreville Bank has seven branch locations in Coventry, Cranston, East Greenwich, Narragansett, North Kingstown, West Greenwich, and West Warwick, and assets of $1.2 billion. For more information, please visit www.CentrevilleBank.com.
About the Centreville Bank Charitable Foundation:
The Centreville Bank Charitable Foundation was established as a non-profit charitable organization in 2006 by the Board of Trustees to further the philanthropic mission of Centreville Bank. The Foundation's goal is to partner with local non-profit organizations that work to strengthen, grow, and contribute to the well-being of the communities that we serve.