In honor of its 150th anniversary, Walden Savings Bank in Montgomery has donated $1,500 each to four community organizations that serve cancer patients, advocate for the LGBTQ+ community and help young people in need of mentors, and pets in need of homes. The grants came from a longstanding donation pool that bank employees contribute to throughout the year, donations of which are matched by the bank.
The organizations include Hudson Valley Cancer Resource Center, Newburgh LGBTQ+ Center, Big Brothers Big Sisters of Orange County and Take Me Home Pet Rescue.
“It”™s wonderful to see the wide range of organizations our Walden Savings Bank employees choose to help with our donations,” said Walden Savings Bank President and CEO Derrik Wynkoop.
The bank raises the funds through a company custom. Every Friday, Walden Savings Bank employees are allowed to “dress down,” with a small donation. Each staffer must contribute at least $3 each pay period for the privilege of dressing more casually on Fridays than the rest of the week.
The contributions go into the WSB Donation Pool; the bank matches them dollar for dollar.
Each month, the first $500 in the fund becomes one of 12 mini grants given year-round. Most years, the remaining funds are divided among Walden Savings Bank”™s 22 departments. At the end of each year, each department is allowed to donate its share to whomever they choose.
This year, to celebrate WSB”™s 150th anniversary, the donation process was modified. Employees nominated organizations and then voted on four of the nominees to receive the gifts.
Established in 1872, Walden Savings Bank is the 11th-oldest federally chartered mutual savings bank headquartered in Montgomery, New York. With a total of 11 full-service branches serving Orange and Ulster counties and a Loan Production office in Dutchess County, the bank”™s progressive style of community banking provides products that cater to both the individual and the growing mid-size business.
