M&T Bank Corp. and Hudson City Bancorp Inc. recently announced that they raised $824,143 for the American Red Cross Hurricane Sandy Relief Fund.
The money will be donated to Red Cross chapters in New Jersey, Long Island and Staten Island.
Money was raised through the efforts of employees, customers, directors and retirees.
“Sadly there are many other individuals and businesses in this hard hit area that are having a (hard) time getting back on their feet,” said Selena McLeod, branch manager of Hudson City Savings Bank’s office on Staten Island, in a statement. “These contributions will go a long way toward helping them recover.”
M&T Bank and Hudson City Savings Bank each made initial commitments of $250,000 to the American Red Cross during the first week of November. The employees, directors and retirees of both banks donated a combined $157,657 to the relief effort. M&T Bank matched all of those contributions for an additional $157,657. Bank customers made $8,829 in donations at bank branches in November and December to round out the grand total of $824,143.
In August, Hudson City Savings Bank and M&T Bank announced that Hudson City would merge into a subsidiary of M&T. The merger, approved by both banks’ boards of directors, is subject to regulatory and shareholder approval.