Cornerstone Bank has pledged $7,500 a year for four years, a total donation of $30,000, to the Friends of the Sturbridge Senior Center for the renovation and expansion of the center.

“The Sturbridge Senior Center provides a whole host of valuable services for our local seniors,” said Cornerstone Bank CEO Todd Tallman. “We’re honored to contribute to the development of a beautiful new facility that will allow them to expand their services and better serve our elderly population for decades to come.”

The original building, one of the town's oldest schoolhouses, will have a new floor plan with offices on the first floor for the Council on Aging (COA) and Veteran Affairs. The second level will feature health and wellness and workout rooms, a meeting room and a game room. An estimated 5,000-square-foot addition will include a commercial kitchen and multipurpose spaces that can be subdivided with folding partitions. The second-floor addition will feature a 2,000-square-foot exercise/Tai Chi/yoga area.

Once the building is complete, a rich variety of programs, lectures and classes will be available to local seniors, such as ballroom dancing, arthritic kickboxing, chair volleyball, gardening, dementia workshops and much more.

Run by a volunteer board of directors, the Friends of the Sturbridge Senior Center provides financial and occasional operational assistance to the COA's programs and activities that enrich the social and physical well-being of older adults.

Following a unanimous vote from their boards, PeoplesBank and Cornerstone Bank have announced that they have entered into a definitive agreement to combine their holding companies in a merger transaction. While the merger agreement between PeoplesBancorp, MHC and SSB Community Bancorp MHC will unify holding companies, both banks will continue operating under separate names and brands for the foreseeable future.

After the completion of the merger, the new consolidated holding company for both banks will be PeoplesBancorp, MHC and have approximately $6 billion in assets. Thomas Senecal will remain as CEO and chairman and Todd Tallman will become president of the combined mutual holding company, PeoplesBancorp, MHC. Brian Canina will be the chief operating officer of the holding company and will remain president of PeoplesBank.

Both institutions will benefit from the combined financial strength of two strong community banks coming together to create one of the largest mutual multi-bank holding companies in the Northeast.

PeoplesBank, serving western Massachusetts, and Cornerstone Bank, serving central Massachusetts, will each continue their normal operations with no disruption to customers. All account information, branch banking and digital access will remain the same for both banks throughout the transaction.

“This merger of our holding companies will create more financial backing for each of our banks, ensuring the kind of sustained strength that our customers have relied on since our founding in 1885,” says Tom Senecal, CEO and chairman of the Board of PeoplesBank

This partnership opens up both banks to future opportunities and market growth. The merger was unanimously approved by the boards of directors for both holding companies. Completion of the transition remains subject to approval by the corporators of PeoplesBancorp, MHC and SSB Community Bancorp, MHC, as well as regulatory approval. Closing is anticipated in the first quarter of 2025.

“We’re excited to be joining forces with another mutual bank serving its communities with the same kind of commitment we do,” says Todd Tallman, CEO of Cornerstone Bank. “While customers won’t see any difference in their day-to-day banking experiences, this merger offers us more scalability and strength that we can build on in the future.”

Piper Sandler & Co. served as the financial advisor on this transaction. Luse Gorman, PC served as legal counsel to PeoplesBancorp, MHC and Nutter McClennen & Fish LLP served as legal counsel to SSB Community Bancorp, MHC.

Cornerstone Bank supported three nonprofits by sponsoring their local fundraising events. This included $8,000 to Abby’s House for its Spring-Tacular Event on May 16; $5,000 to In the Hour of Need Family Shelter for its 2024 Evening of Hope held on May 10; $5,000 to Big Brothers Big Sisters for its Big Celebration, which was held on April 2, and $10,000 for its upcoming Golf Fore Kids event on June 24.

“We’re proud to support the vital work of these three organizations, which serve as integral links in the safety net for our local residents,” said Cornerstone Bank CEO Todd Tallman. “They all provide valuable resources and services for neighbors in need.”

Abby’s House in Worcester provides women and their children with affordable housing and the support they need to get on their feet. All proceeds raised through the 11th Annual Spring-Tacular Celebration are being used to address the individual needs of women and children through advocacy and support services.

In the Hour of Need (IHN) Family Shelter (formerly The Interfaith Hospitality Network of Greater Worcester) works in partnership with the faith community, groups and individual volunteers to provide shelter and assistance to families with children who are experiencing homelessness. The program’s primary goals are to assist families in increasing their income and help them secure permanent housing, while providing the critical support services necessary for them to succeed. The 2024 Evening of Hope held last month at the BrickBox Theater raised funds to benefit IHN and its services.

Big Brothers Big Sisters of Central Mass & MetroWest held its annual Big Celebration on Tuesday, April 2, to raise funds for kids facing adversity in the local community. On Monday, June 24, the organization is holding its annual Golf Fore Kids tournament at Marlborough Country Club. The day includes 18 holes of golf, an exciting raffle and a reception, with monies raised benefiting the mentoring programs at Big Brother Big Sisters.

Cornerstone Bank recently donated $6,000 to the Gateways Academy, Inc., a small, private school in Shrewsbury. The funds will be used to provide financial aid to families with children attending the school.

“Our Community Relations Manager, Nicole Digregorio, and other members of our team have been involved with Gateways Academy over the past couple years providing mentorship and entrepreneurial education, as well as financial literacy lessons,” said Cornerstone Bank CEO Todd Tallman. “They are incredibly impressed by the students, staff and school, so we’re proud to amplify their efforts with additional financial support.”

Last year, Cornerstone Bank donated $5,000 to support the school’s American Sign Language (ASL) program, physical education and team building.

Gateways Academy began as an idea to serve Worcester families recently displaced by the closing of private schools within the city during the COVID-19 pandemic. Its mission is to help each child realize their individual gifts through a blended and comprehensive education for diverse learners. Educators strive to reach each student’s intellectual potential and interests with an array of academic, cultural, service and technological opportunities.

Cornerstone Bank recently pledged its ongoing support of Our Bright Future, Inc., by donating $25,000 a year through 2028—a total donation of $125,000. The Southbridge-based organization is committed to empowering children and developing future leaders through science, technology, engineering and math (STEM) initiatives.

“We have long been impressed with the people, programs and progress at Our Bright Future,” said Cornerstone Bank CEO Todd Tallman. “Committing our support for five years will make it easier for the organization’s team to plan with confidence. The funds will help the organization maintain and enhance its STEM programs and ultimately extend its reach to more students.”

Last year, Cornerstone’s $25,000 donation was earmarked for two programs within the organization: the STEMing Into Sports Summer Program and the Worcester Polytechnic Institute (WPI) STEM After-School Program. In 2022, Cornerstone’s $25,000 donation supported the purchase of a van to help children and teens get to and from the organization’s summer camp and after-school programs.

Our Bright Future Inc. was established in 2016 to empower youth and develop bright leaders through robotics, 3D printing, sports training and guidance in academics. Through various programs, it incorporates education, empowerment, discipline, leadership, diversity and respect to help students shape the future. To learn more about Our Bright Future Inc. or to make a tax-deductible donation, visit ourbrightfutureinc.org.

For the second consecutive year, Cornerstone Bank contributed $15,000 to UMass Memorial Health Care for its nutrition-focused “Food is Medicine” program. The goal of the program is to provide higher-risk patients with easier access to healthy food options that align with the diet recommendations provided by their physicians.

“We were impressed with the impact the Food Is Medicine program achieved last year, so we were eager to continue our support,” said Cornerstone Bank CEO Todd Tallman. “They exceeded their enrollment goals and are adding a new component this year. Programs like this one can have a profound impact on patient outcomes.”

For one of the program’s initiatives, UMass Memorial partnered with a community-based organization, About Fresh, to implement its Fresh Connect program in Worcester. Participants from Children’s Medical Center and the UMass Memorial Medical Center’s Oncology Department receive pre-paid debit cards, which can be used at most grocery stores to purchase healthy food options.

As part of the Growing Places program in Fitchburg, a fresh food mobile market is set up at the HealthAlliance-Clinton campus during the growing season. Participants are given tokens to purchase fresh, locally grown, healthy food from the mobile market and to further address other nutritional needs based on their specific clinical diagnosis. Enrollees are referred to Growing Place’s Winter Mobile Market during the winter.

This year, the Food is Medicine program is adding an additional food distribution partner, Eatwell, which will offer easy-to-prepare, nutritious and balanced meal kits distributed at the Diabetes Center of Excellence at the Leominster Campus of HealthAlliance-Clinton.

Cornerstone Bank recientemente llevó a cabo una serie de cuatro clases de educación financiera en español para residentes de Hector Reyes House en Worcester. Además de brindar tratamiento residencial individualizado por abuso de sustancias, la Casa ofrece programas educativos diseñados para ayudar a los participantes a vivir de forma independiente.

"Damos una enorme importancia a la educación y nos enorgullecemos de nuestra dedicación a promover el conocimiento de nuestra comunidad", dijo Todd Tallman, director ejecutivo de Cornerstone Bank. “Hemos seguido creciendo y ampliando nuestras clases de educación financiera, y este programa en español es otro paso hacia un mayor acceso. Ofrecimos 114 programas en 2022 y 204 en 2023. Nuestro objetivo en 2024 es continuar con este crecimiento, con un enfoque en las poblaciones desatendidas. Queremos brindarles a todas las personas de las comunidades a las que servimos el conocimiento que necesitan para tomar decisiones financieras acertadas”.

Empleados de Cornerstone Bank Joel Laureano, vicepresidente y gerente senior de mercado; e Ivori Hidalgo Batista, pasante de recursos humanos; Realicé las clases en español. Contenido incluido:How to manage and balance a checking account

• Cómo administrar y equilibrar una cuenta corriente
• La importancia de las cuentas de ahorro y consejos para ahorrar
• La diferencia entre un cheque de caja y un giro postal
• Comprensión de las tarjetas de cajero automático, tarjetas de crédito y tarjetas de débito
• Qué significa “fondos insuficientes”
• Cómo funciona la banca móvil
• Cómo completar recibos de depósito y retiro, escribir un cheque y leer un cheque de pago
• Qué son el crédito y el puntaje crediticio, por qué son importantes y cómo generar crédito
• Cómo calcular la relación deuda-ingresos, qué significa y por qué es importante
• Consolidación de la deuda
• Cómo identificar señales de alerta y consejos para ayudar a evitar estafas y fraudes

Después de completar las cuatro clases, se invitó a los participantes a abrir cuentas corrientes y de ahorro en Cornerstone Bank, incluso si habían sido rechazadas en el pasado debido a su historial financiero.

Cornerstone Bank recently held a series of four financial literacy classes in Spanish for residents of the Hector Reyes House in Worcester. In addition to providing individualized residential substance abuse treatment, the House offers educational programs designed to help participants with independent living.

“We place tremendous importance on education and pride ourselves on our dedication to furthering the knowledge of our community,” said Todd Tallman, CEO of Cornerstone Bank. “We have continued to grow and expand our financial literacy classes, and this Spanish-language program is another step toward increasing access. We offered 114 programs in 2022 and 204 in 2023. Our goal in 2024 is to continue this growth, with a focus on underserved populations. We want to provide all the people in the communities we serve with the knowledge they need to make sound financial decisions.”

Cornerstone Bank employees Joel Laureano, assistant vice president, senior market manager; and Ivori Hidalgo Batista, human resource intern; conducted the classes in Spanish. Content included:

• How to manage and balance a checking account
• The importance of savings accounts and tips for saving
• The difference between a cashier’s check and a money order
• Understanding ATM cards, credit cards and debit cards
• What “insufficient funds” means
• How mobile banking works
• How to fill out deposit and withdrawal slips, write a check and read a paycheck
• What credit and a credit score are, why they are important and how to build credit
• How to calculate debt to income ratio, what it means and why it’s important
• Debt consolidation
• How to identify red flags and tips to help avoid scams and fraud

After completing all four classes, participants were invited to open savings and checking accounts at Cornerstone Bank, even if they had been turned down in the past due to their financial history.

Cornerstone Bank recently welcomed Corey Niswender as its new vice president, digital product manager. In this role, the Boston resident will lead the development and implementation of the bank's digital products and services. This includes overseeing project teams, analyzing market trends, identifying user needs and preferences and collaborating with cross-functional teams to drive product strategy and execution.

“Corey joins us with an impressive level of expertise and insight,” said Cornerstone Bank CEO Todd Tallman. “Digital banking is accelerating at a rapid pace, and our goal is to remain at the forefront. Two key areas of focus for us are ensuring we are easy for our customers to work with, and that we are delivering solutions. Our digital products and services are key to our success in these regards.”

Offering 24 years of experience in the banking industry, Niswender earned his bachelor’s degree in international business from SUNY Empire State College, a master’s certificate in applied business analytics from the Massachusetts Institute of Technology and a master’s certificate from the New England School for Financial Studies. He also boasts several project management credentials, including Project Management Professional, Certified Scrum Master, Certified Scrum Product Owner and Lean Six Sigma.