This summer, Cornerstone Bank is hosting nine local students in its internship program. The goal is to provide them with hands-on experience that complements their studies and allows them to explore career opportunities and begin to build a professional network.

“We are committed to providing these bright students with solid work experience that integrates what they learn in the classroom with real-life experiences in a professional setting,” said Cornerstone Bank CEO Todd Tallman. “They gain valuable skills, work on meaningful projects and make professional connections. We also benefit from their enthusiasm and perspectives, so it’s a win-win situation.”

This year’s group of interns includes:

• Investment Services Intern Jack Gaudette from Sturbridge attends Elon University in North Carolina.
• Retail Intern Zach Hebert from Dudley attends Nichols College in Dudley.
• Commercial Lending Intern Collin Heenan from Holden attends Worcester State University.
• Community Relations Intern Reese Levansavich from Auburn attends Saint Anselm College in New Hampshire.
• Investment Services Intern Will Pieczynski from Fiskdale attends Villanova University in Pennsylvania.
• MIS (IT) Intern Sam Quink from Sturbridge attends the Rochester Institute of Technology in New York.
• Facilities Intern Jack Seery from Brookfield attends the University of Massachusetts Amherst.
• Community Relations Intern Kevin Skagerlind from Holden attends the University of Massachusetts Amherst.
• Learning and Development Intern Bella Smith from Sutton attends Assumption University in Worcester.

(Pictured left to right: Bella Smith, Reese Levansavich, Collin Heenan, Zach Hebert, Kevin Skagerlind, Will Pieczynski, Jack Seery, Sam Quink and Jack Gaudette.)

The Cornerstone interns attend an orientation on their first day before joining their respective departments and have regular check-ins to ensure they are getting what they want from their experiences. The students also have opportunities to engage in community support efforts, attend Cornerstone Bank events and network with each other.

“At the end of the summer, we ask them to reflect on their time with us and provide feedback,” said Tallman. “This allows us to continue to refine the internship program to make sure we are providing truly valuable experiences.” 

Cornerstone’s internship program started in 2021 and is open to high school and college students. It offers both part-time and full-time internships, with most students choosing to intern for 38 hours per week. Each intern goes through an interview process so that they can be placed into the department that best aligns with their goals and interests. All interns are paid and are eligible to get school credit upon completion of the program.

Students often experience a "summer slide," due to a lack of access to affordable programs that help them use and expand on what they learned in school. That’s why Cornerstone Bank recently donated $5,000 to the Mustard Seed Catholic Worker Community. The organization provides summer enrichment to rising third and fourth graders from Elm Park and Chandler Street Elementary schools.

“We believe all students need access to resources, mentors and opportunities to help them thrive,” said Cornerstone Bank CEO Todd Tallman. “We are proud to lend our ongoing support to the Mustard Seed organization and the academic, social and physical programs it offers.”

The summer enrichment program is designed to help students transition successfully to increased academic demands and achieve success. The program offers daily academics, activities, athletics and twice-weekly field trips to aid in the development of well-rounded individuals who will enter the next school year prepared to learn.

The program’s goals are to help students develop their communication skills with peers and staff, live a healthier lifestyle, feel a sense of belonging, adopt responsible decision-making skills, grow more confident, take pride in their work and understand the importance of asking questions. Cornerstone Bank donated $4,000 to the Mustard Seed Catholic Worker Community in 2023 and $3,000 in 2022.

Cornerstone Bank continues its long-term support of the YMCA of Central Massachusetts with another $25,000 donation to the organization’s annual campaign.

“We remain committed to supporting the essential work of the YMCA, whose programs and services make lives better right here in our own backyard,” said Cornerstone Bank CEO Todd Tallman. “This year’s donation brings our four-year total to $100,000, all of which is used to provide equitable opportunities for services for pre-k children through active older adults.”

This year’s YMCA campaign theme is “Empower, Engage, and Elevate,” and the goal is to raise $1.3 million. Funds support low- and no-cost initiatives around mental health, closing the educational gap, workforce and leadership development, food insecurity, cancer survivorship, after-school care, summer camp and more.

“At Cornerstone Bank, we support a community-based banking model and believe that our success is closely connected with the success of our entire community,” said Tallman. “We are especially passionate about assisting programs and services dedicated to helping local children and teens thrive, an area in which the YMCA excels. In addition, the Y’s LIVESTRONG® program and healthy meals initiatives assist many people when they need it most.”

To donate to the annual campaign and make a lasting impact on the 57 cities and towns the YMCA of Central Massachusetts serves, visit ymcaofcm.org/annual-campaign.

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.