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The Institution for Savings, through its charitable foundation, awarded and pledged more than $1,365,000 in the first quarter of 2025, according to President and Chief Executive Officer Michael J. Jones.

The largest grants included a $250,000 pledge to the City of Newburyport for the Recreation and Youth Services new headquarters on Low Street and a $250,000 pledge to Change is Simple Inc., a nonprofit dedicated to instilling social and environmental responsibility through hands-on climate change education.

The funds will be used to support hands-on climate and sustainability educational programming for elementary and middle school students in North Shore communities.

The bank also pledged $150,000 to The Salem Pantry to assist them in establishing a regional food storage and distribution hub that will support its mission of providing convenient and reliable access to food. Other significant awards included $25,000 grant to the Newburyport Education Foundation and $25,000 to The Firehouse Center for the Arts. Additionally, the foundation awarded $10,000 grants to Pathways for Children, My Brothers Table of Lynn, Habitat for Humanity, Gloucester Education Foundation, Rockport Public School/Education Foundation and Amesbury Educational Foundation Inc.

“This continues to be a challenging time for so many of our non-profits who provide essential services to those in need,” Jones said. “We received more than 160 applications this quarter alone. Our charitable foundation allows us to share our financial success with the communities that have helped us achieve that success and while we wish we could grant every request we are happy to be able to support many in this way.”

Other non-profit organizations who received first quarter grants from the bank are as follows: Pawsitively 4 Pink, 4414 Fund/The Jeff Stone Foundation, Alliance of Climate and Environmental Stewards, Alzheimer’s Disease and Related Disorders, Amesbury Girls Youth Softball League, Amesbury High School, Amesbury Jets Youth Football and Cheerleading, Anna Jaques Hospital Aid Association, Arpeggione Ensemble, Inc., Ascension Memorial Church, Assumption of the Virgin Mary Greek Orthodox Church of Ipswich, Backyard Growers, Inc. , Beverly High School, Beverly Rotary Club Foundation, Inc., Boxford Athletic Association, Boys and Girls Club of the Lower Merrimack Valley, Inc., Bridgewell Incorporated, Cape Ann Trail Stewards, Inc., Colleen E. Ritzer Memorial Fund, Collins Middle School, Dirty Hands Project, Educational Foundation for Rockport, Essex County Trail Association, Essex National Heritage Commission, Express Yourself, First Parish Church of Newbury, Friends of Buker Elementary School, Friends of Rockport Athletics, Inc., Friends of the Ipswich Elderly, Generous Gardeners, Gloucester High School, Gloucester Tourism Alliance, Hamilton Wenham High School and Regional School District Education Fund, Harborlight Community Partners, Housing Support, Inc., Ipswich High School, Jeanne Geiger Crisis Center, Kinship Farm Corporation, Ipswich Little League, Masconomet Girls Lacrosse, Masconomet Girls Soccer Association and Merrohawke Nature School.

Also: Montserrat College of Art, Newburyport High School, Newburyport Chamber Music Festival, Newburyport Choral Society, Newburyport Education Foundation, Newburyport Maritime Society, Newburyport Pride Coalition, North of Boston Cancer Resource, North Shore Alliance of Gay & Lesbian Youth, North Shore Community College Foundation, Northeast Arc, Opportunity Works, Pentucket Regional High School, Rowley and Salisbury Elementary School PTAs, Resolution Center, Inc., Road Runners Club of America, Rockport Exchange Corporation, Rockport Garden Club, Rockport High School, Rotary International, Rupert A. Nock Middle School Parent Teacher Organization, Salem State University Alumni Association and Foundation, Salem High School, Salisbury Youth Baseball and Softball League, Sawyer Library Foundation, Sgt. Jordan M. Shay Memorial Foundation, Spur Inc., St. Peter’s Fiesta, Swampscott Tides, The Community House, The Gloucester Adventure, Three Sisters Garden Project, Tinkerhaus Community Maker Space, Topsfield Community Partnership, Town of Rockport, Town of Salisbury Parks & Recreation, Trav’s Trail Run, Trayser Museum Directors, Triton Boosters Club, Triton Regional High School, Triton Youth Basketball, Tri-town Council on Youth and Family Services, Women’s Money Matters and Young Women’s Christian Association of Newburyport.

SALISBURY — Weeks after Our Neighbors’ Table officials announced they had come up $200,000 short in its efforts to raise $6 million to operate its new Bridge Road food hub debt free, the Institution for Savings made up the difference last week.

“I read the article in the paper and I saw that they were $200,000 away from their $6 million 2024 goal, and I figured we would step up and make sure they made their goal,” Institution for Savings President Mike Jones said.

Jones and other Institution for Savings officials joined Haight for a tour of the hub Tuesday after donating $200,000 last week, with Jones calling the facility “so impressive.”

“I just really appreciate Lyndsey’s vision and I think that it took some time, but here we are today, and I think we’re doing exactly what we wanted to do,” Jones said, referring to Our Neighbors’ Table Executive Director Lynsdey Haight.

Our Neighbors’ Table opened the 24,000-square-foot food market and storage facility roughly four months ago. It includes 7,000-square-feet of dry storage, as well as 3,000-square-feet of cold storage. The nonprofit is in the midst of a $7.8 million capital campaign for the Salisbury food hub so it can operate the hub debt free.

The hub will serve the 25 food access organizations partnered in the Lower Merrimack Valley Food Coalition.

While the hub is still a work in progress, over a million pounds of food have passed through the building so far, with most of it coming from the Greater Boston Food Bank.

Haight said that hitting the $6 million milestone is huge for her organization after they had initially failed to hit the mark by Jan. 1.

“Six million dollars was a key benchmark for us. It was the minimum we needed just to be able to carry the costs of this expansion and serving the needs of the coalition,” Haight said.

She stressed not fundraising efforts are still far from done.

“We still have $1.8 million to get to the $7.8 million. We get to the $7.8 million and we are in great shape so that all of our future contributions go directly to serving the coalition and the 32,000 people that the coalition is serving,” Haight said.

Board of Directors member and chairman of the capital campaign Jim Krause thanked the bank and shared his belief that this donation could inspire others as the campaign nears its conclusion.

“There’s a bandwagon effect,” Krause said.

Haight said she was grateful for the over 300 donors who have contributed to the campaign so far.

“It’s one of the largest campaigns executed in this area for quite some time, and so it really speaks to everyone with varying capacities in their commitment to universal food access,” Haight said.

Folks looking to contribute to the campaign can do so at: fillemup.org

Matt Petry covers Amesbury and Salisbury for The Daily News of Newburyport. Email him at: mpetry@northofboston.com.

NEWBURYPORT — With the holiday season being a time of need and struggle for many, the Institution for Savings recently donated more than $100,000 to local food pantries and toy collections, according to bank president and CEO Michael Jones.


“We know that while the holiday season is enjoyable for many, this time of year can be difficult for some who are struggling during these challenging economic times,” Jones said. “Our vision is to positively affect those living and working in our communities, with a special emphasis on those in need. We are happy to help where we can.”

The bank donated funds to the following food pantries and non-profits: Acord Food Pantry, American Legion Post No. 3 (The Legion Gloucester Post No. 3), Beverly Bootstraps, Community Action, Inc., Community Service of Newburyport, First Church Congregational of Boxford, First Parish Church of Newbury, Georgetown COA Food Pantry, Grace Center Inc./Unitarian Universalist Church of Gloucester, Ipswich Dinner Bell, Middleton Food Pantry, Among Friends St. Paul’s Church of Newburyport, Rowley Food Pantry, St. Vincent De Paul Society of Gloucester, St. Vincent De Paul Society/Immaculate Conception Church of Newburyport, St. Vincent de Paul/Sacred Hearts Food Pantry of Haverhill, Salem Food Pantry, Salem Mission/Lifebridge of Salem, Senior Care, Inc. of Gloucester, St. Basils Ministries/Annunciation Greek Orthodox Church of Newburyport, The Salvation Army of Newburyport and Salisbury, and Topsfield Food Pantry/Top Cupboard.

Additionally, the following toy collection organizations received grants from the bank to support families needing holiday assistance this season: Beverly Bootstraps, Boys & Girls Club of Merrimack Valley, Boys & Girls Club of Greater Salem, Cape Ann Kids/Wellspring House, Community Action, Inc., Community Giving Tree of Topsfield, Boxford and Middleton, Community Service of Newburyport, Cutler School of Hamilton, Ipswich Caring, Pine Grove Elementary School of Rowley, Winthrop School of Hamilton, and Newburyport YWCA Holiday Family Adoption Program.

Institution for Savings, a $5 billion community bank headquartered in Newburyport, has been named one of the 2024 Top Places to Work in Massachusetts in the 17th annual employee-based survey from The Boston Globe. The Top Places to Work issue publishes online at globe.com/topplaces online and in Globe Magazine on Sunday, December 8th.

The Bank is one of only two companies to have made the top list every year that the list has been published.

Top Places to Work recognizes the most admired workplaces in the state voted on by the people who know them best—their employees. The survey measures employee opinions about their company’s direction, execution, connection, management, work, pay, benefits, and engagement. The employers are placed into one of four groups: small, with 50 to 99 employees; medium, with 100 to 249 workers; large, with 250 to 999 staff members; and largest, with a workforce of 1,000 or more employees.

The Institution for Savings was ranked number 17 in the Medium category, up from number 23 in 2023.

“What makes this honor so gratifying is that it is based on the confidential feedback from our very own employees,” said Institution for Savings president and CEO Michael J. Jones. “To be one of only two Massachusetts companies to have consistently made the list for 17 straight years -- at a time when workplaces are adjusting to meet the needs of a changing workforce -- makes this even more special.  Our employees are our greatest asset, and I am truly grateful to lead such a dedicated team.”

The Globe Magazine also includes a segment highlighting special recognitions some of the top companies bestow on their employees and features the Bank’s longstanding President’s Award, give annually to an employee that goes above and beyond.

“The best employers pay attention to the many ways work changes – and the many ways it stays the same – and figure out how to keep people engaged and motivated through it all,” said Katie Johnston, the Globe’s Top Places to Work editor.

The rankings in Top Places to Work are based on confidential survey information collected by Energage, an independent company specializing in employee engagement and retention, from nearly 68,000 employees at 323 Massachusetts organizations.

NEWBURYPORT — Institution for Savings President and CEO Michael J. Jones was recently appointed by Gov. Maura Healey to the Massachusetts Housing Partnership (MHP) Board.

MHP is a public nonprofit affordable housing organization that works in concert with the governor and the Executive Office of Housing and Livable Communities (EOHLC) to increase the supply of affordable housing in Massachusetts. It does this by financing affordable rental housing, providing mortgage financing for first-time home buyers, providing technical assistance for housing and neighborhood development and works to establish statewide housing policy. The partnership is governed by a seven-member board of directors appointed by the governor.

“Mike Jones is a fabulous addition to our board,” said MHP Executive Director Clark Ziegler. “He brings a wealth of experience and has led his bank to be an industry leader on housing and community investment. He’s also a champion of affordable housing in his own hometown of Ipswich.”

Jones said he was “truly honored” to have been chosen by Healey and added he was looking forward to working with Ziegler and his team.

“Massachusetts has faced a housing shortage for decades, with the demand for affordable housing significantly outpacing production and availability. I look forward to lending my time and experience as a longtime affordable housing advocate to this board as we work to make housing more affordable in Massachusetts,” Jones said.

Earlier this year, Healey signed into law the Affordable Homes Act into law, historic legislation that authorizes $5.16 billion in spending over the next five years along with policy initiatives to address rising housing costs in the state caused by high demand and limited supply.

“Mike’s lengthy experience in banking will help support MHP’s goal of creating a future with an adequate housing supply and reasonable housing costs,” said Massachusetts Housing Secretary Edward M. Augustus.

The Institution for Savings, through its Charitable Foundation, awarded and pledged over $750,000 in the third quarter of 2024, announced President and Chief Executive Officer Michael J. Jones recently.

The largest grants included $30,000 to Nourishing the North Shore to support its Vegout program, $35,000 to the Newburyport Lions Club for Yankee Homecoming Race and t-shirts; $25,000 to Wellspring House for its housing support program; $25,000 to Pettengill House to support its ongoing programs and service; and $15,000 to Beverly Bootstraps for event sponsorship and operating support. The Bank also paid ongoing commitments to Citizens Inn, Essex County Greenbelt Association, Hamilton-Wenham Athletic Improvement Association, and Triton Education Foundation.

“Our vision is to positively affect the lives of every person, business and organization in the communities we serve,” said Mr. Jones. “The Bank’s Charitable Foundation allows us to share our financial success with the communities that have helped us achieve that success. These are still challenging times for so many of our non-profits and we are thrilled to be able to support them in this way.”

Other non-profit organizations who received third quarter grants from the Bank are as follows: Action Inc.; Anna Jaques Hospital; Best Buddies Massachusetts; Byfield-Newbury Baseball Softball; Cabot Performing Arts Center; Cape Ann Business Incubator; Cape Ann Symphony Orchestra; Central Congregational Church - Chocolate Tour; Community Action Inc. Community Service of Newburyport; Community Through Music Youth Chorus; Cycling Without Age MA; Distributive Education Clubs Of America (DECA); Essex County Trail Association; FRAXA Research Foundation; Friends Of North Shore Childrens Museum; General Charitable Society of Newburyport; Girls Incorporated of Lynn; Gloucester Fund; Haven Project Inc.; Horizon Club; Horses Healing Hearts; Immaculate Conception School; Ipswich Cultural Council; Ipswich High School Football Boosters; Ipswich High School Hall of Fame; John Ashford Link House; Joppa Flats Running Club; Kestrel Educational Adventures; Neurofibromatosis Incorporated Northeast; Newbury Elementary School; Newburyport Art Association; Newburyport Choral Society; and Newburyport Youth Football.

Also: North Of Boston Cancer Resource; North Shore Community Action Programs; Northeast Massachusetts Youth Orchestras; Pan-Massachusetts Challenge; Pathways For Children; PTA Massachusetts Parent-Teacher Association; Resolution Center Inc.; Road Runners Club of America; Rockport New Years Eve; Rotary International; Ruth’s House; Sean Perkins Foundation; SeniorCare; Society for the Development of Arts And Humanities of Greater Newburyport; Storm Surge Inc.; Sweet Paws Rescue; The Impossible Dream Inc.; The Rotary Foundation of Rotary International; The Salem Pantry; Third Sector New England; Town of Salisbury - Parks & Recreation; Triton Amesbury Junior Maples Youth Hockey League; Triton Boosters Club, Inc.; Tri-Town Council On Youth and Family Services Inc.; United Church Of Christ, dba Belleville Roots Music Series; Victoria’s Victory Foundation; Wenham Historical Association & Museum; West Newbury PTO; Whittier Tech Educational Foundation; and Young Men’s Christian Association of Metro North.

SALEM — “What type of car can I afford on an actuary’s salary?” “What’s an HMO?” “I had no idea my parents paid that much for cable TV!”

Those were just a few of the comments from high school students navigating their future at the 14th annual Credit for Life Fair held May 23 at Salem State University.

More than 1,100 North Shore high school juniors from 14 schools attended the event, underwritten and organized by the Institution for Savings. They were joined by 150 community volunteers, including 50 IFS employees, Newburyport Mayor Sean Reardon, Amesbury Mayor Kassandra Gove, the division of bank examiners, financial planners, real estate agents and nonprofit leaders.

The Institution for Savings event is the largest of its kind in New England. High schools attending the event included Amesbury, Newburyport, Triton Regional, Pentucket Regional, Ipswich, Georgetown, Masconomet Regional, Hamilton-Wenham Regional, Salem, Swampscott, Beverly, Rockport and Gloucester, as well as Landmark School in Beverly.

Using the bank’s Credit for Life website (creditforlife.org), students created profiles on their mobile devices, then chose professions. Then using their assigned monthly “salaries,” along with a credit card and savings account, they visited 12 booths set up in Rockett Arena and purchased everything they would need to live as 25-year-olds. The booths featured housing, transportation, food and nutrition, education and training, health and wellness, and planning for the future.

The event’s goal, according to Institution for Savings President and CEO Michael Jones, was to help local high school students develop personal budgeting skills that they will use throughout their lives.

“The greatest part of the morning was listening in to the students talk about their choices and decision-making,” said Jones, whose twin sons attended the event from Ipswich High School. “Seeing them trying to decide if they can afford to live on their own or need a roommate, or choosing a used Jeep over a lease is so gratifying to me because that is exactly what this event is geared to do: Get them to start learning how to manage their money before they leave high school.”

Local community volunteers included Gove and Reardon, North Shore Chamber CEO Karen Andreas, Salem Pantry Executive Director Robyn Burns and Greater Newburyport Chamber of Commerce President Nate Allard.

“The Credit for Life Fair is an amazing event to witness in person,” Reardon said. “Financial literacy is such an important skill that currently is not required for graduation in Massachusetts schools. Institution for Savings deserves a lot of credit for bringing hundreds of juniors from 14 different high schools to come and participate in this immersive real-world financial simulation.”

A group of financial planners from EP Wealth Advisor and The Sentinel Group were also on hand to advise the students, as were staffers from Salem State University. Kristin MacDonald from the office of state Sen. Bruce Tarr also volunteered as did Phil DeCologero and Madison Gonzalez from the office of State Auditor Diana DiZoglio.

DeCologero, who has volunteered at the fair several times, said he is “always amazed” at the planning by organizers, the enthusiasm of volunteers, and the seriousness of students.

“I wish I had access to this type of programming when I was in high school, and it’s clear the students who do get to participate understand the benefit of the resources they’re being exposed to. Thank you to Institution for Savings for devoting so much to helping so many,” DeCologero said.

Gove said the fair offers “incredible hands-on learning experience” for Amesbury students.

“In the absence of required standardized financial literacy in our school, they’re filling the gap. Our students beg us for real life education and opportunities for ‘adulting’ and this program checks all the boxes. Every student should experience Credit for Life,” Gove said after the event.

A highlight of the morning was the Safety & Security Booth, staffed by police officers from eight North Shore communities.

Swampscott police Officer Brian Wilson brought Sora, the department’s comfort dog, along as well. Officers talked with the students about important issues that keep young adults safe, such as texting and avoiding substance use while driving, and having smoke detectors in living space. Students also took turns trying out impairment goggles that simulate levels of alcohol impairment to make them aware of how alcohol can adversely affect their vision and functions.

“The students learn so much, and have fun doing it,” Andreas said. “They talk about credit card debt, saving for emergencies, whether they should adopt a dog and afford the vet bills. It’s an outstanding learning experience.”

 

Two local banks and a charitable foundation have banded together to make sure kids can get into the swing of things at the soon-to-be completed Market Landing Park.

Added together, the Institution for Savings, Newburyport Bank and the Mary Alice Arakelian Foundation are donating $290,000 so that trellis swings can be built along the central waterfront boardwalk overlooking the Merrimack River.

The swings are part of the city’s $6 million Market Landing Park project, which will see the conversion of a number of waterfront parking lots into additional green space, as well as the addition of park wings and a shared use path connecting two phases of the Clipper City Rail Trail down near the waterfront.
In addition to the swings, the donated funds are going toward new Adirondack chairs, park benches and hammock-like structures, according to Newburyport Planning Director Andrew Port.
“These are primarily places for seating in the park,” he said.

The Institution for Savings donated $50,000 for the new amenities though its charitable foundation, according to Port, who added that the Newburyport Bank Charitable Foundation is kicking in $40,000 while the Mary Alice Arakelian Foundation has pledged $200,000.

“We felt that this project would enhance the public’s enjoyment of our beautiful waterfront, and that Nick and Mary Alice Arakelian would be proud to know that their foundation helped to make it possible,” Mark Welch, president of the Mary Alice Arakelian Foundation, said.

Established in 1965, the Mary Alice Arakelian Foundation provides grants to nonprofit organizations in the Greater Newburyport area, such as Anna Jaques Hospital and others, according to its website.
Institution for Savings President Michael J. Jones said when Mayor Sean Reardon approached the bank about financially supporting the Market Landing Park project, it seemed like a natural partnership based on the bank’s long track record with the city.

“This park will serve as a vibrant gathering place for residents and visitors alike, allowing everyone to enjoy the beautiful central waterfront with its boardwalk, bike paths, seating areas and other site amenities,” he said in a statement. “We’re thrilled to be able to help bring this project to fruition and look forward to its completion later this spring.”

Newburyport Bank leader Lloyd L. Hamm, in a statement, called the new Market Landing Park a “beautiful spot for everyone to enjoy,” saying the bank’s foundation was “eager” to support the initiative when the construction and expansion project was announced years ago.

“The expansion of green space within our communities is essential to the well-being of all that live, work and visit here, and the Market Landing project does just that,” he said. “We are extraordinarily proud to support this effort.”

Port said the city remains on track to complete construction of the first phase of the Market Landing Park project by late May.

“We still haven’t quite decided the opening date, but we’ll be seeding the grass very soon and want to make sure that it takes decently,” he said. “Other than that, we expect everyone will be able to enjoy the park soon.”
NEWBURYPORT — A crowd of more than 75 employees, trustees and friends cheered on the raising of the final beam of the Institution for Savings’ long-awaited main office expansion plan Friday at the bank’s 93 State St. location.

President & CEO Mike Jones and EVP/COO Kim Rock commemorate the final beam installationPresident and CEO Michael Jones, along with Executive Vice President and COO Kimberly Rock, donned hard hats and harnesses and went up in a bucket truck to inspect and cheer on the installation after it was raised by members of the construction team overseen by the bank’s general contractor, Groom Construction.

Other construction team members on hand included Lisa Mead and Adam Costa of the law firm Mead, Talerman & Costa, who represented the bank during the lengthy planning and approval process; representatives from Architectural Resources Cambridge and Woodman Associates, who designed the expansion; Groom Construction principal Scott Faulkner and members of his team; and representatives from owner’s representative Scalora Consulting Group.

The bank’s historic main office, constructed of brownstone, was built in 1871 and has been the headquarters for 153 years. Designed by well-known Boston architect Rufus Sargent, it has known only two renovations during that time: the remodeling and addition of the side wing in 1903 by famed architect Edwin Dodge and the addition to the rear building in 1983 designed by Woodman & Associates.

“We were thrilled to celebrate this milestone with so many of those who made this much-needed expansion possible,” Jones said. “It was nearly five years ago to the day that we began planning this expansion,” Jones said.

In December 2019, the bank submitted an application to the city for a much-needed expansion to accommodate the bank’s growth. After months of meetings and plan revisions, the plan was approved in July 2022 and the bank broke ground on the project on July 31, 2023.

“When completed, this addition will allow the bank to centralize its core operations right here in our main headquarters, which is critical to our ongoing success and growth. Our bylaws state that this office forever will be the main headquarters of the Institution for Savings and this addition is critical to our operations. It is an exciting time for sure,” Jones said.

Anticipated completion of the project is in early 2025.