NORWAY, Maine – Norway Savings Bank and Community Concepts Finance Corporation, a certified Community Development Financial Institution (CDFI), an affiliate of Community Concepts, Inc. have announced a partnership in which Norway Savings Bank will provide $400,000 annually to Community Concepts to provide loans to low and moderate income home buyers, businesses and other borrowers who are eligible to borrow from a Community Development Financial Institution.
“We are very pleased that Norway Savings Bank will be providing an ongoing source of financing for Community Concepts Finance Corporation in order for us to provide much needed capital to those looking to start or expand a business, improve their home or buy a home,” said Dennis Lajoie, Director of Community Concepts Finance Corporation.
“As a community bank, we are committed to reinvesting in our local communities,” explained Juanita Smith, Senior Vice President, Retail Loan Sales & CRA Officer with Norway Savings Bank. “We have developed a strong partnership with Community Concepts over the years because their mission is in alignment with the mission and values of Norway Savings. We are pleased to have the opportunity to work with such a great organization to help it meet the needs of individuals, families and businesses in our communities.”
Since 1965, Community Concepts, Inc. has offered a variety of social services that promote self-sufficiency within the people of the communities of Androscoggin, Franklin and Oxford counties of Maine.