Cornerstone Bank has donated $2,000 to YOU, Inc., a leading behavioral health and education agency serving at-risk children, adolescents and families across Worcester County for more than five decades. YOU, Inc., is an affiliate of Seven Hills Foundation, aimed at supporting families facing a wide range of challenges.

“We want all children and families to be able to look forward to a bright future even when times are tough,” said Cornerstone Bank CEO Todd Tallman. “We applaud the important work YOU, Inc. and Seven Hills Foundation have done, and we’re proud to support their services.”

This is the second year in a row Cornerstone Bank has donated to YOU, Inc. as part of its holiday gift-giving campaign. The organization runs two Family Resource Centers located in Worcester and Southbridge. They provide multi-cultural parenting programs, support groups, early childhood services, as well as education, vocational and employment programs.

Cornerstone Bank is supporting families navigating the challenges of childhood cancer, as a sponsor in a charity golf event raising money for Why Me. The Worcester-based organization offers resources for families from the moment a child is diagnosed through every step of treatment and beyond.

“We are deeply grateful to be able to support such an important resource for our community,” said Cornerstone Bank CEO Todd Tallman. “The work the staff and volunteers do at Why Me offers families a helping hand as they go through unthinkable experiences. We hope our donation helps ease the burden.”

As a sponsor of the 2024 Why Me Golf Classic, Cornerstone donated $5,000 to the charity. About 120 people who share a passion for the cause gathered for a fun and friendly competition on October 7, raising a total of more than $75,000.

Why Me offers peer support for families with childhood cancer, survivors and those who have lost loved ones. The organization also runs a food pantry and offers meals and financial assistance. Volunteers help families with transportation, hospital and clinic visits, counseling and opportunities for entertainment.

“At Cornerstone, we know childhood cancer has devastating impacts. Our hearts go out to families going through that challenge,” said Tallman. “We salute the important work Why Me does every day.” 

THE COMMONWEALTH OF MASSACHUSETTS BOARD OF BANK INCORPORATION

PEOPLESBANCORP, MHC, Holyoke, Massachusetts, the mutual holding company for PeoplesBank, Holyoke, Massachusetts, has petitioned the Board of Bank Incorporation (Board) pursuant to Massachusetts General Laws chapter 167A, sections 2 and 4, for approval to acquire SSB COMMUNITY BANCORP MHC, Spencer, Massachusetts (SSB MHC) and SSB COMMUNITY BANCORP INC., Spencer, Massachusetts (SSB BANCORP). SSB MHC and SSB BANCORP are the mutual holding company and subsidiary holding company, respectively, of Cornerstone Bank, Spencer, Massachusetts. Upon consummation of the proposed transaction, PEOPLESBANCORP, MHC would become a bank holding company and would be the mutual holding company for both PeoplesBank and Cornerstone Bank. PEOPLESBANCORP, MHC would rename SSB BANCORP as PeoplesBancorp, Inc. and operate PeoplesBancorp, Inc. as a subsidiary holding company holding both PeoplesBank and Cornerstone Bank.

In determining whether or not to approve this petition the Board must decide whether competition among banking institutions will be unreasonably affected and whether public convenience and advantage will be promoted by this proposal. A hybrid public hearing will be given to all interested parties on the petition before the Board on Tuesday, October 8, 2024, at 11:00 a.m., 1000 Washington Street, First Floor, Hearing Room 1-D, Boston, Massachusetts. The link providing information for the hybrid hearing, including the online meeting software that will be used to conduct the hybrid hearing, will be available on the Divisions of Banks’ website at www.mass.gov/dob by noon on Monday, October 7, 2024. All comments concerning this petition must be filed with the Board at 1000 Washington Street, 10th Floor, Boston, Massachusetts 02118-6400 or via electronic mail to dob.comments@mass.gov by the close of business on Wednesday, October 16, 2024. The application and all communications relative to this matter are available by request at dob.rao@mass.gov.

Board of Bank Incorporation:

MARY L. GALLAGHER
Commissioner of Banks

DEBORAH B. GOLDBERG
Board of Bank Treasurer and Receiver-General

GEOFFREY E. SNYDER
Commissioner of Revenue

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Click here for a pdf version of this notice.

Worcester is one of the largest hubs in the country for African-born immigrants and refugees, with a population near 20,000. To help aid in their transition, Cornerstone Bank has pledged a total of $25,000 over a three-year period to support African Community Education’s (ACE) Living Together Campaign.

Based in Worcester, ACE empowers African refugee and immigrant youth through educational, leadership and cultural programming. Cornerstone contributed $5,000 this year and will donate $10,000 per year in 2025 and 2026. The funds will help ACE renovate its facility, expand its programs and services and ensure its long-term stability.

“We have proudly supported African Community Education’s work in previous years, but the need is great and growing, so we felt it was imperative to grow our support as well,” said Cornerstone Bank CEO Todd Tallman. “A three-year commitment provides the organization’s leadership with the opportunity to confidently plan future growth.”

According to ACE, about 30 percent of African-born immigrants and their children living in Worcester are within 200 percent of the poverty line. Currently, ACE is only able to serve 6.3 percent, leaving more than 5,000 people in critical need.

ACE programs include academic support and tutoring, English-language learning, enrichment and experiential learning activities, mentoring, family education, outreach, reading and career development.

Cornerstone Bank is once again proving its deeply rooted commitment to the economic well-being of the community it serves. The bank recently donated $5,000 to the Quaboag Valley Community Development Corporation (QVCDC), a non-profit organization that helps local small businesses grow and prosper.

Cornerstone’s donation is focused on giving low-to-moderate income residents unique access to financial security. The contribution goes to the QVCDC’s Harrison and Diane Quirk Financial Fitness Club, a program that offers a free, 12-month matched savings plan along with advice from professional advisors on spending, borrowing and reducing debt.

“This program not only sets participants up for personal financial growth, but it also has a direct impact on their families, and a positive ripple effect on the local economy,” said Cornerstone Bank CEO Todd Tallman. “Industry studies suggest that a healthy financial life leads to good mental and physical well-being.”

This donation marks Cornerstone Bank’s second gift to the Financial Fitness Club, which has generated positive results. Participants typically spend a year learning about how their relationship with money affects their lives. The program shows them how to make a habit of saving every month, sticking to a household budget and working to protect credit scores. 

“We’re thrilled to have a hand in helping individuals and families reach their financial goals,” said Tallman. “We’re confident the economic security people gain from the Financial Fitness program will lay the foundation for achieving even bigger dreams.”

Cornerstone Bank is proud to announce the 16 recipients of its 2024 scholarship awards program for local high school graduates. Each was awarded $2,500 to assist with college expenses, representing a total of $40,000.

“We are delighted to help local students further their education, and wish these 16 exceptional graduates continued success in their futures,” said Cornerstone Bank CEO Todd Tallman. “We extend our sincere congratulations to all members of the Class of 2024.”

The 2024 scholarship recipients are:

• Emma Auen from Shrewsbury High School, attending East Carolina University
• Nicholas Damelio from Shepherd Hill Regional High School, attending Boston College
• Madelyn Dugan from Notre Dame Academy, attending Saint Anselm College
• Kaelyn Donovan from Shepherd Hill Regional High School, attending Marist College
• Hailey Dunn from Doherty Memorial High School, attending Union College
• Thomas Fenlon from Wachusett Regional High School, attending Villanova University
• Nicholas Gillette graduated from Auburn High School, attending Wentworth Institute of Technology
• Patrick Harrington from Leicester High School, attending the University of Hartford
• Zachary Hebert from Shepherd Hill Regional High School attending Nichols College
• Avery Heppenstall from Wachusett Regional High School, attending Miami University
• Ellie Hill from Tantasqua Regional High School, attending Bridgewater State University
• Benjamin King from Wachusett Regional High School, attending College of the Holy Cross
• Emma Lord from Tantasqua Regional High School, attending Endicott College
• Ayla Messier from David Prouty High School, attending the University of Massachusetts Amherst
• James Queen from The Greenwood School, attending Gordon College
• Michael Rotondo from St. Johns High School, attending the University of Cincinnati

To be considered for a scholarship, each student had to:

• Be a 2024 high school graduate
• Anticipate being a full-time student at an accredited, degree-granting institution of higher education
• Anticipate studying in a business or financial field
• Demonstrate achievement and high standards in academics, extracurricular activities and community involvement
• Submit an official transcript and GPA from their guidance office
• Submit a one-page essay

To learn more about this year’s recipients, visit: https://bit.ly/3zIYi0q.

Cornerstone Bank recently welcomed Michael Gilchrist as its new vice president, controller. In this role, the Millbury resident will develop and execute the company’s financial vision, improve upon and develop new processes and controls, and lead the finance and accounting team. This includes providing insight and recommendations on current and new revenue streams and completing the annual budget.

“Michael is a great fit for this pivotal role in our organization’s future success,” said Cornerstone Bank CEO Todd Tallman. “He’ll be integral to improving our current financial systems and evaluating new systems that may better meet our future needs while shaping the overall finance and accounting functions for success in an ever-changing environment.”

With over 11 years’ experience in the field, Gilchrist has worked for various large public, private and private equity-held companies such as Staples, BJ's Wholesale Club, Milton CAT and Central Garden & Pet specializing in GAAP and SOX audit compliance as well as system and process improvements using a continuous improvement mindset.

Gilchrist is a graduate of Nichols College in Dudley with a degree in accounting, and volunteers on the Dorothy Pond Restoration Committee in Millbury.

Cornerstone Bank is a proud recipient of a 2024 Corporate Citizenship Award from the Boston Business Journal (BBJ). The awards are published annually to draw attention to organizations dedicated to supporting their communities through donations of time, money and service.

Cornerstone Bank’s contributions to regional charities totaled over $506,000 in 2023—well above the minimum $100,000 required to qualify for the list. It joins a diverse list of honorees this year, representing industries ranging from retail and professional sports to financial services, health care and technology. The businesses will be honored at the BBJ’s 18^th Annual Corporate Citizenship Awards event taking place Thursday, September 5, from 5:30 p.m. to 8:30 p.m. at the Seaport Hotel in Boston.

“We are proud to be recognized by the Boston Business Journal as one of the top contributors to regional charities,” said Cornerstone Bank CEO Todd Tallman. “At Cornerstone Bank, we pride ourselves on helping to improve the quality of life for our neighbors, customers and communities through charitable donations, scholarship programs and service.”

The evening will be a celebration of community, recognizing all the charitable contributors, the Alan B. Lewis | Alnoba CEO Social Leadership Award recipients and the 2024 Corporate Citizenship Community Collaboration Awardees, along with plentiful opportunities for connecting and networking.

“It is with honor that we present our list of the Top Charitable Contributors in Massachusetts,” said Boston Business Journal Market President and Publisher Carolyn Jones. “Collectively, they gave more than $423 million in cash contributions—a true example of the business community coming together to help those in need. We are proud to celebrate these organizations who give both money and time to make Boston a stronger and better place for all.

Giving a child a bike is great, but providing them the opportunity to earn it gives them so much more. Through Worcester Earn-a-Bike Inc., local youth volunteer five hours in the shop stripping donated bikes, organizing parts, helping others with bike repairs and learning how to use the tools safely. Then they can choose a bike from the organization’s inventory of repairable bikes to repair for themselves. Cornerstone Bank recently donated $1,000 to support this forward-thinking community program.

“We are so impressed with this innovative initiative for local youth,” said Cornerstone Bank CEO Todd Tallman. “Participants gain valuable hands-on skills, learn teamwork and develop leadership skills. When they earn their bike and build it up with their own hands, it becomes so much more than just a bike.”

Worcester Earn-a-Bike also hires paid youth mechanics through the Worcester Community Action Council. The youth mechanics help other kids and adults with bike repairs and serve as role models and mentors to new, younger kids who come to the shop.

The organization is also committed to encouraging bike riding as an empowering, economical and healthy alternative to car culture, hosting monthly community bike rides planned by the youth participants and open to the community. 

“It’s hard to tally all the benefits of this initiative, many of which are intangible,” said Tallman. “From self-confidence and pride in a job well done, to a sense of community and belonging, this can truly be a life-changing experience.” 

Donated funds will be used toward program expenses, which include a youth coordinator and shop coordinator who work a few hours a week, bike tools and parts, rent and insurance, and for monthly community bike rides.

To learn more about earning a bike or participating in Worcester Earn-a-Bike events, such as monthly community rides, visit facebook.com/worcesterearnabike.