OAK BLUFFS – Martha’s Vineyard Savings Bank has established a new charitable endeavor, the Martha’s Vineyard Bank Charitable Foundation, and endowed it with $1 million gift, according to the Vineyard Gazette.
The formation of the foundation is in celebration of the Bank’s 110th year in business.
CEO James Anthony said the inspiration was a desire to form an entity that allows the bank the opportunity to contribute the health and wellbeing of the Island, according to the paper.
The bank also has another charitable fund that it operates with the Permanent Endowment for Martha’s Vineyard.
There will be a two-tiered selection process for the new foundation with an internal donations committee made up of bank employees on the first tier. Tier two will be the board of directors of the foundation.
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