1. Washington Trust donated 35 kits to support homeless clients. 2. Employees contributed over $4,000 in essential items for new homes. 3. The bank committed a $50,000 grant to create supportive apartments. 4. CEO and President were actively involved in this community effort.
The commitment to community support can enhance Washington Trust's brand value, as seen with companies that engage socially to improve public perception and loyalty, potentially increasing stock prices in the long run.
Company initiatives and community involvement can impact investor sentiment positively, reflecting an organizational culture likely to result in sustained profitability.
Investments in community initiatives often translate to long-term benefits like customer loyalty and brand reputation, which have historically supported stock value stability.
WESTERLY, R.I., Feb. 6, 2025 /PRNewswire/ -- Washington Trust employees recently built and donated 35 "Welcome Home Kits" to benefit Crossroads Rhode Island clients who are transitioning from homelessness to stable housing. The kits, valued at more than $4,000, contain personal care items and basic household supplies, and are presented to clients to help them get settled into their new apartments.
More than 100 Washington Trust employees participated in the collection drive and kit assembly effort, including Chairman and Chief Executive Officer, Edward O. "Ned" Handy III, and President & Chief Operating Officer, Mary Noons.
"Washington Trust remains committed to supporting programs that provide resources to individuals and families who are seeking safe and affordable housing options, especially in the midst of the current housing crisis in Rhode Island," said Mary Noons, President and Chief Operating Officer at Washington Trust. Adding, "Our employees care deeply about their local communities, and we're proud of this effort to support Crossroads' mission."
"Many of the unhoused people that we serve come to us with little more than the clothes on their backs," said Laura Calenda, Crossroads Chief Marketing & Philanthropy Officer. "Thanks to the generosity of Washington Trust, we will be able to provide 35 households with essential items like paper products, toiletries, and cleaning supplies to help with the transition into new homes. We are grateful for our continued partnership."
Washington Trust has also committed a $50,000 grant to support Crossroads' 'Roads to Home' capital campaign that will create nearly 300 affordable permanent supportive apartments for formerly homeless adults in three different buildings in Providence.
Founded in 1800, Washington Trust is recognized as the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast's premier financial services companies. Washington Trust values its role as a community bank and is committed to helping the people, businesses, and organizations of New England improve their financial lives. The Bank offers a wide range of commercial banking, mortgage banking, personal banking and wealth management services through its offices in Rhode Island, Connecticut and Massachusetts and a full suite of convenient digital tools. Washington Trust is a member of the FDIC and an equal housing lender. Washington Trust is a subsidiary of Washington Trust Bancorp, Inc., a publicly-owned holding company which trades on NASDAQ: WASH. For more information, visit the Bank's website at www.washtrust.com or the Corporation's website at ir.washtrust.com.
SOURCE The Washington Trust Company