NewburyportNews.com, Newburyport, MA

Local News

July 23, 2013

Bank donates $500K to Salisbury library project

(Continued)

Yesterday, Jones said he was very impressed.

“For a contribution of this size, the bank has to be very confident that the project will get done, that the budget is sound and have confidence in the funding team,” Jones said. “We were. This is a big project for Salisbury and one that will be a benefit for the community for many generations to come.”

After a presentation to the full board, complete with plans and model, the 18 members of the bank’s board of trustees voted unanimously to approve the donation, Jones said.

“When we opened our Salisbury office in 2006, we pledged to become a true partner with the town of Salisbury and to positively affect the lives of every person, business and organization in this great community,” Jones said. “I can think of few better ways to do that than to help fund this much-needed new library, a place that can be used by virtually every Salisbury resident. We are thrilled to be able to help.”

Masiello expressed her gratitude to the bank, for not only the money, but for the bank’s recognition of the importance of the new library to the residents in town and for “leading the way” by making such a major contribution.

Condon said the Institution for Savings led the way once before on a similar project, when it became a major financial benefactor when Newburyport built its new library.

Condon said all the banks located in Salisbury have been generous to the town when called upon in the past, as have other members of the business community.

“We’re hoping to raise $2 million,” Condon said. “We’re hoping this is just the beginning of what will be a number of substantial pledges for the library.”

The library’s fundraising committee is also putting out collection cans at local businesses for those residents who would like to contribute to the project.

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