Liberty Bank Foundation has received awards from the American Bankers Association and the New England Financial Marketing Association for its initiative in marshaling financial resources to support summer youth employment, following a cut in federal funding in 2012. <\/p>\n
. \"All of the youth served by these programs are from low-income families and for many it is their first job,\" said Sue Murphy, executive director of the Liberty Bank Foundation. \"In an environment where unemployment for youth is around fifteen percent, these programs were likely their only opportunity to get a job. We couldn't let this important service decline.\" <\/p>\n
Programs successfully operated by the Middlesex Chamber of Commerce and the Eastern Workforce Investment Board in 2011 were expecting that funding cuts would reduce the number of youth served in 2012 by up to fifty percent. Summer youth programs have a high per-participant cost, which meant that no single funder could make up for the loss of federal funding. <\/p>\n
In Middletown, $57,200 was raised in 2012 for summer employment - with more youths participating than ever before - thanks to the generosity of Centerplan Companies, the City of Middletown, the Community Foundation of Middlesex County, Guilmartin, DePiro and Sokolowski, Jackson Chevrolet, Liberty Bank Foundation, Main Street Market, Middle Oak, Middlesex United Way, New England Emporium Eatery and Marketplace, Peach Pit Foundation, Pegasus Manufacturing, and Seasons Federal Credit Union. Another $50,000 was raised in 2013. <\/p>\n
In southeastern Connecticut, $25,000 was raised in 2012, and the figure jumped to $52,500 in 2013, each year helping to put over 420 local youths in jobs that provided much needed work experience and income. In addition to Liberty Bank Foundation, other funders included the Chamber of Commerce of Eastern Connecticut, Charter Oak Federal Credit Union, the Community Foundation of Eastern Connecticut, Dime Bank Foundation, Dominion Resources, People's United Community Foundation, and Sea Research Foundation. <\/p>\n
\"Our funders were committed to working together on this common interest. We all realize that any one of us alone is too small to move the needle, but when we bring enough resources to the table, we can make a difference,\" said Murphy. \"They all deserve our thanks for their willingness to partner for the benefit of young people in our communities.\" <\/p>\n
Encouraged by the success of their partnership to support the youth employment programs, the funders have agreed to look for additional opportunities to pool funds to solve other community concerns. \"Expect to hear more good news from the collaborative next spring,\" said Murphy. <\/p>\n
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READER SUBMITTED: Liberty Bank Foundation Honored<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Liberty Bank Foundation has received awards from the American Bankers Association and the New England Financial Marketing Association for its initiative in marshaling financial resources to support summer youth employment, following a cut in federal funding in 2012. . \"All of the youth served by these programs are from low-income families and for many it is their first job,\" said Sue Murphy, executive director of the Liberty Bank Foundation Continue reading