Wednesday, February 3, 2010
Hamilton, Bermuda - 10 March 2008: To help mark its Sesquicentennial, The Bank of NT Butterfield & Son Limited ("Butterfield Bank") announced today that its Charitable Foundation will make up to $5 million available for granting of endowments to provide ongoing assistance to registered charities in Bermuda in 2008.
The Butterfield Bank Charitable Foundation, will award charities with endowments of between $250,000 and $1 million of Bank shares that are to be used to establish a capital pool that will provide a long-term benefit. The Foundation\'s endowments are in addition to the Bank\'s ongoing corporate giving efforts which see approximately $1 million donated to local charities and events annually, and several scholarships and educational bursaries awarded to Bermudian students each year.
In welcoming the endowment programme, Alan R. Thompson, President and Chief Executive Officer of Butterfield Bank said, "We are proud to be celebrating our 150th anniversary this year. Were it not for the support and loyalty of members of our community - our customers, employees, business partners and shareholders - we would not have reached this significant milestone."
"To say thank you, the Foundation will be donating funds that will be put to use in helping make Bermuda a better place for everyone who lives here."
The Butterfield Bank Charitable Foundation will be accepting applications for endowments from registered charities until 25 April 2008. Charitable organisations interested in learning more about the programme and the application process are invited to attend a special information session at The Centre on Philanthropy on 3 April 2008 at 5.30pm. Charities interested in attending the information session are encouraged to register with The Centre on Philanthropy, (441) 236.7706 by 31 March 2008.
Awards of Endowment funds will be determined by the Board of Governors of Butterfield Bank Charitable Foundation based on the applications received. Recipients will be announced at a Press Conference scheduled for 29 May.
Application forms are available at all Butterfield Bank Branches, from the Bank\'s website at www.butterfieldbank.bm or from The Centre on Philanthropy. (Download form below.)
Samantha Pacheco is coordinating the Endowment Programme on behalf of Butterfield Bank Charitable Foundation. She can be reached at firstname.lastname@example.org or (441) 299.3902.