Business, Free News Articles, NonProfit and Charities

The Chelsea Groton Foundation Passes $5 Million in Giving Since Founding – Following Approval of $255K in Grants During Fall Giving Cycle

GROTON, Conn. -- This fall, the Chelsea Groton Foundation provided $255,827 to 45 non-profit organizations from Connecticut and Rhode Island. The Foundation has given over $500,000 in grants in 2021 alone, and over $5 million to the community since its founding.

Supporting organizations that provide Health and Human Services is always a priority of the Chelsea Groton Foundation. In anticipation of the winter months ahead, the Foundation awarded $10,000 grants to the Gemma E. Moran United Way / Labor Food Center (food program), Furniture Bank of S.E. CT (beds), Martin House in Norwich (food program), New London Homeless Hospitality Center (program support), and St. Vincent de Paul Place in Norwich (food program).

The Foundation was also able to support organizations in need of capital funding necessary to maintain operations. A commitment of $10,000 over two years was made to Norwich Free Academy for a roof replacement, and $5,000 over two years was awarded to Thames River Heritage Park for a new boat.

Norwich Community Development Corporation (NCDC) received a $50,000 grant for Global City Norwich, bringing the Foundation's total commitment to $400,000 since the initiative launched in 2017.

"When the Chelsea Groton Foundation was formed over 20 years ago, it was created with the intention of giving to organizations that support basic human needs - hunger, homelessness and healthcare - as well as those that provide education, economic growth, arts and cultural experiences, and youth activities. The $5 million in grants that we've been able to distribute over the years have helped our neighbors and enriched our local community in countless ways," shared Michael Rauh, President and CEO of Chelsea Groton Bank, and President of the Chelsea Groton Foundation. "We're so proud to be able to support so many worthy organizations again this year, to lend support during the challenging economic times brought on by the pandemic and as we work to recover together."

The Foundation typically reviews applications and awards grants two times per year. Organizations who support critical needs are invited to apply for additional funding this year if needed, through the application on the Bank's website, http://www.chelseagroton.com/CGFoundation.

In 2020, Chelsea Groton Bank and the Chelsea Groton Foundation gave a record $1 million to the community in the wake of the pandemic. Each year, the Bank and Foundation support more than 300 local organizations through monetary gifts, grants, sponsorships, scholarships and employee volunteerism. More information, including a list of all fall grant recipients, is available at http://www.chelseagroton.com/CGFoundation.

About the Chelsea Groton Foundation

The Chelsea Groton Foundation was formed in June 1998 as a Section 501(c)(3) organization. Initially endowed with a $2 million donation from Chelsea Groton Bank, the Foundation has, to date, awarded over $5 million in grants to hundreds of scientific, educational and charitable organizations located within the Bank's market area. To learn more, visit: chelseagroton.com/CGFoundation.

About Chelsea Groton Bank

Based in Groton, Connecticut, Chelsea Groton Bank is a full-service mutually owned bank with over $1.6 billion in assets. Chelsea Groton Bank's products and services include consumer banking, business banking, mortgage and business lending, cash management, financial planning and financial education programming. With 14 branch locations throughout New London County and a Loan Production Office in Hartford County, Chelsea Groton Bank also provides online and mobile banking, 24-hour telephone banking, and nationwide ATM banking for individuals, families and businesses. To learn more, please visit http://chelseagroton.com/. Member FDIC. Equal Housing Lender. NMLS Institution ID 402928.

Related link: https://www.chelseagroton.com/

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Awards and Honors, Business, Free News Articles

Chelsea Groton Bank Named Top Workplace for 6th Straight Year – CEO Michael Rauh Recognized with Leadership Award

GROTON, Conn. -- Chelsea Groton Bank was recently named a Top Workplace in Connecticut for the sixth consecutive year, and Michael Rauh, the Bank's President and CEO, was presented with this year's Leadership award, both in the midsize employer category (150-499 employees).

"We've received many awards over the years, but being on the Top Workplace list during an incredibly difficult time really speaks to the resiliency and dedication of our team members. Our employees care deeply for their team, customer and community members, and focus on helping everyone accomplish their goals with a one person at a time mindset. This level of care and dedication is the reason why we were able to provide critical services to so many," shared Michael Rauh, President and CEO of Chelsea Groton Bank.

"This year we focused even more effort on ensuring inclusion and equity in every aspect of our business, and continued to provide growth, training and leadership opportunities to team members at every level. I'm also honored to be a recipient of the Leadership award, a recognition based on employee feedback, which is truly humbling and gratifying."

The annual Top Workplace Awards, sponsored regionally by the Hartford Courant, are based on the results of an employee feedback survey administered by Energage, a leading research firm that specializes in organizational health and workplace improvement. Fifteen aspects of workplace culture were measured, covering four main areas, including how well employees work together toward a common cause. Employees were asked about company values, whether new ideas are encouraged or if managers help employees learn and grow. Pay, benefits and training also are key questions.

Chelsea Groton employees noted that their contributions both in and out of the office are highly valued and that they are members of a close-knit work family. Many feel proud to perform meaningful work that improves the lives of their neighbors, and to be a part of an organization that helped so many facing difficult times during the last 18 months, including Chelsea Groton's Foundation giving over $1 Million to the community in 2020.

"We've always taken great care in selecting benefits and initiatives that contribute to our employees' health and wellbeing, and that's never been more important than with the personal and professional challenges and changes brought forward due to the pandemic," said Anne Wilkinson, SVP, Chief Human Resources Officer at Chelsea Groton Bank. "When teams were largely remote, we held virtual get-togethers, Zoom fitness classes, and employee appreciation days to keep our workforce engaged. As more people came back to the office, we offered safe opportunities for outdoor gatherings, such as ice cream socials at area creameries. We've also done our best to be flexible and understanding when it comes to personal circumstances related to the pandemic, like individual health, childcare needs, and caring for aging family members. We're thrilled our team felt our efforts to accommodate needs and show appreciation."

While Chelsea Groton offers traditional benefits for employees, the Bank also provides employees the opportunity to partake in a variety of continual education programs, and offers the Grow, Launch, and Lead leadership programs for team members at every level within the organization. Team members are invited to participate in a wellness program designed with incentives to track and challenge participants in physical, mental, and financial well-being. Community volunteerism, donations and supply drives have also always been a driving factor in bringing the team together.

Leadership Award

Michael Rauh has been President and CEO of Chelsea Groton Bank since December 2010. Over the last decade, he has not only led the Bank through the expansion of product, service and technology offerings, but he has emphasized a commitment to supporting each individual customer's needs and goals, and dedicating time and resources to the education and development of team members at every level. In addition to being honored with the Leadership Award, Rauh was also recently named Citizen of the Year by the Chamber of Commerce of Eastern Connecticut, and has led Chelsea Groton Bank to be named "Top Workplace" by the Hartford Courant and "Best Bank" by readers of The New London Day for six consecutive years, to be listed by Forbes as one of America's Best-In-State Banks, and to earn a 5-Star "Superior" rating for financial strength by BauerFinancial for over 25 consecutive years.

About Chelsea Groton Bank

Based in Groton, Conn., Chelsea Groton Bank is a full-service mutually owned bank with over $1.5 billion in assets. Chelsea Groton Bank's products and services include consumer banking, business banking, mortgage and business lending, cash management, financial planning and financial education programs. With 14 branch locations throughout New London County and a Loan Production Office in Hartford County, Chelsea Groton Bank also provides online and mobile banking, 24-hour telephone banking, and nationwide ATM banking for individuals, families and businesses.

To learn more, please visit https://www.chelseagroton.com/. Member FDIC. Equal Housing Lender. NMLS Institution ID 402928.

Related link: https://www.chelseagroton.com/

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Business, Economic Development, Free News Articles, Regional Events

Chelsea Groton Bank, in Partnership with NCDC and GNACC, Offers Free Business Seminars for Local Entrepreneurs

GROTON, Conn. -- Chelsea Groton Bank kicks off their 5-week "Cultivating Great Business: Small Business Bootcamp" on October 5, 2021. The FREE small business series, designed for aspiring and established entrepreneurs, is offered through the Bank's financial education program, Chelsea University, in partnership with the Norwich Community Development Corporation (NCDC) and the Greater Norwich Area Chamber of Commerce (GNACC). Participants will walk away with a wealth of knowledge and a strong foundation for starting or growing a business.

"Chelsea Groton Bank is passionate about helping turn dreams into realities for businesses of all types. In addition to providing custom financial solutions, we proudly offer informational programs throughout the year to arm business owners with the tools they need to be successful," shared Miria Gray, AS, Community Education Officer at Chelsea Groton Bank. "As so many business owners learned in 2020, it is critical for businesses to have their financial house in order and to be able to market their services. We'll discuss these topics and more throughout the series."

The instructor-led curriculum was developed jointly by the Federal Deposit Insurance Corporation (FDIC) and the U.S. Small Business Administration (SBA). Each class will be delivered by Chelsea Groton Bank team members and local professionals to provide aspiring or current small business owners a practical introduction to aspects of starting and managing a business.

All classes will be offered in person and via Zoom on Tuesdays from 12-1 PM at Chelsea Groton's Westside Branch, 444 West Main Street, Norwich, and Thursdays from 6-8 PM at Foundry 66, 66 Franklin Street, Norwich, from October 5 - November 4.

Class topics are: Is Owning a Business Right for You?, Banking Services, Business Plans, Time Management, Organizational Types, Tax Planning and Reporting, Record Keeping, Small Business Insurance, Risk Management, Social Media Marketing, Financial Management and Cash Flow, and an opportunity to Chat with the Experts.

Community members are invited to register for individual classes or the entire series. Registration is required in order to have accurate in-person headcounts and to receive log-in credentials if attending via Zoom.

To learn more and to register, visit http://www.chelseagroton.com/ChelseaUniversity.

About Chelsea Groton Bank

Based in Groton, Conn., Chelsea Groton Bank is a full-service mutually owned bank with over $1.5 billion in assets. Chelsea Groton Bank's products and services include consumer banking, business banking, mortgage and business lending, cash management, financial and investment planning and financial education programming. With 14 branch locations throughout New London County and a Loan Production Office in Hartford County, Chelsea Groton Bank also provides online and mobile banking, 24-hour telephone banking, video banking, and nationwide ATM banking for individuals, families and businesses.

To learn more, please visit http://www.chelseagroton.com/. Member FDIC. Equal Housing Lender. NMLS Institution ID 402928.

Related link: https://www.chelseagroton.com/

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Business, Free News Articles, Real Estate

Chelsea Groton Bank Proudly Offers Homebuyer Assistance Program for Persons with Documented Disabilities

GROTON, Conn. -- Chelsea Groton Bank is pleased to partner with the Connecticut Housing Finance Authority (CHFA) to help borrowers with documented disabilities to purchase their first home, through the Home of Your Own Program.

The Home of Your Own Program allows borrowers to be eligible for a low-interest rate loan and down-payment assistance if the borrower or a live-in family member of the borrower has a documented disability.

"Keeping in line with our commitment to assisting all qualifying persons to achieve homeownership, we are thrilled to be able to offer a program specifically for the members of our community who overcome challenges each day due to a documented disability. We look forward to supporting the borrowers and their loved ones as they purchase a first home," shared Matt Morrell, VP, Retail Lending Manager at Chelsea Groton Bank. "As the leading mortgage lender in Eastern Connecticut, we're committed to preparing people to buy a home when it makes good financial sense for them. This program offers financial assistance and ensures, by requiring borrowers to attend a homebuyer class, that first time homeowners are prepared to accept the responsibility of homeownership."

In addition to providing the disability documentation, borrowers must be a first-time homebuyer or have not owned a home in the past three years, and the home must be the borrower's primary residence. Borrowers must qualify for the program and attend a free Homebuyer Education course prior to closing. Eligible properties may include existing single family homes, multi-unit, condominiums, townhouses and new construction.

Chelsea Groton offers many additional affordable lending programs to the community through partnerships with Veterans Administration, Federal Housing Administration (FHA), US Department of Agriculture (USDA) and down payment assistance and grant programs, including FHLB Equity Builder, HDF SmartMove, and CHFA DAP.

Please visit https://www.chelseagroton.com/ for more information and to contact a lender about specific eligibility requirements.

About Chelsea Groton Bank

Based in Groton, Conn., Chelsea Groton Bank is a full-service mutually owned bank with over $1.4 billion in assets. Chelsea Groton Bank's products and services include consumer banking, business banking, mortgage and business lending, cash management, financial planning and financial education programming. With 14 branch locations throughout New London County and a Loan Production Office in Hartford County, Chelsea Groton Bank also provides online and mobile banking, 24-hour telephone banking, and nationwide ATM banking for individuals, families and businesses. To learn more, please visit chelseagroton.com. Member FDIC. Equal Housing Lender. NMLS Institution ID 402928.

Related link: https://www.chelseagroton.com/

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Business, Free News Articles

Chelsea Groton Bank Approves $244K in Grants During Spring Giving Cycle

GROTON, Conn. -- This spring, the Chelsea Groton Foundation provided $244,319 to 67 non-profit organizations from Connecticut and Rhode Island. Over 60% of the Foundation's approved funding went to organizations providing Health and Human Services, including critical needs such as healthcare, food, clothing and shelter.

A grant donation of $15,000 was provided to Lawrence & Memorial Hospital and $10,000 went to Westerly Hospital, both in response to decimation of resources caused by the pandemic. The Foundation gave a third consecutive grant in the amount of $15,000 to the Community Foundation of Eastern CT for the Neighbors for Neighbors Fund. Since last spring, the Foundation has given a total of $85,000 to the Fund. Operation Fuel was also the recipient of a third consecutive donation and has received a total of $22,500 from the Chelsea Groton Foundation since the pandemic began.

The Foundation was also able to support multiple organizations in the Arts and Culture and Youth Activities sectors, as they work towards a return to normalcy. Eastern Connecticut Ballet ($2,000), Avery-Copp House Museum ($1,500) and La Grua Center ($2,500) all received grants to assist in re-opening to the public for art and live performances. Both Girl Scouts of Connecticut ($3,000) and Muscular Dystrophy Association ($2,500) are welcoming campers back this summer, and Eastern CT Workforce Investment Board ($5,000) is running a summer employment program for low-income youth.

"We made a commitment early on in the pandemic to do whatever it took to support the non-profits in our area who make the community the wonderful place it is. We stand by that and are proud to be able to give to organizations that support basic human needs - hunger, homelessness and healthcare - as well as those that provide education, economic growth, arts and cultural experiences, and more, as we recover, together," shared Michael Rauh, President and CEO of Chelsea Groton Bank, and President of the Chelsea Groton Foundation. "In addition to our usual support, I'm happy to share that the Foundation's guidelines that were adjusted in 2020 will remain in place for this year. Some of the adjustments we made allowed organizations to change the purpose of the grant if the original purpose is no longer possible, and organizations are currently permitted to apply for funding two times in a calendar year. We hope these adjustments will allow more organizations to benefit in greater ways from the funding we have available."

The Foundation typically reviews applications and awards grants two times per year. Organizations who support critical needs are invited to apply for additional funding this year if needed, through the application on the Bank's website, chelseagroton.com/CGFoundation.

Last year, Chelsea Groton Bank and the Chelsea Groton Foundation gave a record $1 million to the community in the wake of the pandemic. Each year, the Bank and Foundation support more than 300 local organizations through monetary gifts, grants, sponsorships, scholarships and employee volunteerism. More information, including a list of all spring grant recipients, is available at chelseagroton.com/CGFoundation.

About the Chelsea Groton Foundation

The Chelsea Groton Foundation was formed in June 1998 as a Section 501(c) (3) organization. Initially endowed with a $2 million donation from Chelsea Groton Bank, the Foundation has, to date, awarded over $4.7 million in grants to hundreds of scientific, educational and charitable organizations located within the Bank's market area. To learn more, visit: http://www.chelseagroton.com/CGFoundation.

About Chelsea Groton Bank

Based in Groton, Conn., Chelsea Groton Bank is a full-service mutually owned bank with over $1.4 billion in assets. Chelsea Groton Bank's products and services include consumer banking, business banking, mortgage and business lending, cash management, financial planning and financial education programming. With 14 branch locations throughout New London County and a Loan Production Office in Hartford County, Chelsea Groton Bank also provides online and mobile banking, 24-hour telephone banking, and nationwide ATM banking for individuals, families and businesses. To learn more, please visit https://www.chelseagroton.com/. Member FDIC. Equal Housing Lender.

Related link: https://www.chelseagroton.com/

This news story was published by the Neotrope® News Network - all rights reserved.

Business, Free News Articles

Chelsea Groton Bank Marks Year Defined by Pandemic As ‘Record’ In Every Way

GROTON, Conn. -- Chelsea Groton Bank reported impressive financial, educational, technical and community-based accomplishments at its 166th Annual Meeting which was conducted over Zoom on Tuesday, April 27, 2021. President and CEO Michael Rauh presented the Bank's 2020 results to Bank officers, Board members and Corporators.

"Our focus has always been on helping individuals, families and businesses succeed in big ways and small by putting more effort into everything we do. Our team was incredibly focused on the needs of our customers, and doing whatever it took to help them succeed in the most challenging circumstances," shared Rauh. "The result was a banner year from a financial perspective, but more importantly, a year where we were everything a community bank is meant to be - a team of local people working tirelessly to ensure the people, businesses and organizations in our community are better positioned to be successful."

Chelsea Groton Bank helped almost 600 businesses obtain nearly $74 million in SBA Paycheck Protection Program (PPP) loans, more than any other lender in the area. The Bank also developed a Small Business Relief Loan program for businesses in need of additional funding as they worked to recover from the challenges of the Covid-19 pandemic. Inclusive of the $74 million in PPP loans, the Bank's commercial loan portfolio grew to $259 million, as Chelsea Groton continued to provide credit lines, term loans, permanent commercial mortgages, and construction loans to businesses across Connecticut and Rhode Island.

The Bank proudly provided more residential financing than any bank, credit union or broker in Eastern CT in 2020.* In spite of the challenging financial year for many, the dream of homeownership came true for 155 first-time homebuyers. The Bank approved a total of 908 first mortgage loans, more than twice the number of first mortgage loans closed in the year prior. Dedicated to helping people provide housing for themselves and their families, Chelsea Groton originated $5 million in CHFA loans for 30 low-to-moderate income individuals, and worked one-on-one with furloughed homeowners who were unable to make their monthly payments to offer fee forgiveness and loan deferments.

The Chelsea Groton Foundation and Bank together donated a record $1 million to the community in 2020, in response to the increased need across organizations in many giving categories. The Foundation also gave over $22,000 to area organizations through the Acts of Kindness program, $100 to the non-profit of each team member's choice. While some volunteer opportunities shifted during the pandemic, Bank team members still volunteered 3,678 hours of their time.

The Chelsea University community education program pivoted to offer programming entirely online in mid-March. Over the course of the year, customers and community members attended 166 classes on everything from credit and home-buying, to social security and Medicare, as well as classes for the aspiring and current business owner. Lifestyle programming, including a Chelsea Cooks! series, virtual yoga, and crafting events were also offered online. For community members unable to attend online classes, additional resources are always available on the Bank's E-learning Center, and recorded classes are on the Chelsea Groton YouTube page.

As of December 31, 2020, the Bank's total assets increased to $1.4 billion. Net operating income was virtually unchanged, dropping slightly, from $13,233,721 to $13,095,912 in 2020. There was a $16 million increase in capital from 2019.

"All of the Bank's success in 2020 was made possible by two big things - a dedicated team that showed an unwavering commitment to the Bank's customers and community members during this time of great need, and advanced technology that was built with a focus on bringing people and digital together," expressed Rauh.

Prior to the pandemic, the Bank deployed a system that enabled the entire staff to work entirely remotely if there was ever the need. Chelsea Groton proudly introduced Chelsea|LIVE Video Banking ATMs and a Video Banking App, giving customers the opportunity to talk live with the local banking team during extended hours when at many of the Bank's ATMs or from the convenience of the customer's phone, tablet or computer. Mobile Wallet was also rolled out, allowing customers to connect their Chelsea Groton Debit Card to Apple Pay(r), Google Pay(tm) or Samsung Pay.** The Bank continues to offer interpreter services over the phone and in person. Each of these services has helped customers manage their finances more effectively, especially as people were looking to conduct their banking safely in a more remote world.

Forbes included Chelsea Groton Bank on the "America's Best-In-State Banks" list. The Bank was once again voted "Best Bank" by the readers of The Day (2015-2020), a "Top Workplace" in the Hartford Courant based on an employee survey (2016-2020), and the "Best Place to Work" by the Eastern CT Chamber of Commerce. BauerFinancial, an independent bank rating service, awarded Chelsea Groton their "5 Star" designation for financial stability and exemplary excellence for the 107th consecutive quarter, maintaining Chelsea Groton as a "Best of Bauer" bank.

"Over the last few years, the Bank has focused on taking a consultative approach to working with every person who comes through the door," said Rauh. "We were thrilled this year to be able to offer new technologies, or more frequently utilize the ones we had, in order to provide customers with options to bank when, where and how they felt was safest or most convenient for them. Chelsea Groton will never lose sight of the importance of human interaction to truly serve our customers' needs. We're excited that many of our new technologies bring the personal and digital experience together, in order to do just that."

View the Chelsea Groton 2020 Annual Report video and financials.

At this year's meeting, Bank officials also announced the appointment of four new Corporators:

Wendy Bury of Stonington, CT: Wendy is the Founding Executive Director of the Southeastern Connecticut Cultural Coalition and the Founding Executive Director of La Grua Center, Stonington. She serves as the Policy and Issues Committee Chair for CT Arts Alliance, Trustee of the Chamber of Commerce of Eastern Connecticut, Board Member of Southeastern CT Enterprise Region (seCTer), Dept. of Emergency Management and Homeland Security Regional Recovery Steering Committee Member and Co-Chair of the Lamont/Bysiewicz Transition Arts, Culture and Tourism Policy Committee. Wendy also founded the Stonington Nonprofit Roundtable. She graduated from Colgate University with a Bachelor of Arts degree and Case Western Reserve University with a Master's degree in Art History.

Shiela Hayes of Norwich, CT: Shiela is the President of the NAACP Norwich Branch and is a Founding Member and Secretary of Sankofa Education & Leadership, Inc. She is a Corporator at Norwich Free Academy, member of the Norwich Area Clergy Association and the Rotary Community Corps of Norwich. She previously served as secretary for the City of Norwich, Ellis Walter Ruley Committee Secretary, the 150th Anniversary of the City of Norwich Emancipation Proclamation Committee and the City of Norwich Semiseptcentennial (350th) Celebration. Shiela is a recipient of the 2019 Ron Aliano Service to the Community Award, the 2017 Lottie B. Scott Diversity Award, Paul Harris Fellow from the Rotary Club Norwich #6747 and the 2009 Connecticut Council of Family Services Agencies Family Champion Award. She graduated from Quinnipiac University with a Bachelor of Science degree in Information Systems & Accounting and Rensselaer at Hartford with a Master's degree in Management.

Suki Lagrito of Norwich, CT: Suki is a local entrepreneur and liaison for Global City Norwich (NCDC's Downtown Revitalization Program). She is a Board Member of Norwich Rotary Club, and member of Norwich Public Schools Equity Committee, Norwich Adult Education Advisory Board, and Rose City United.

Larry Rivarde of Groton, CT: Larry is the Chief Operating Officer at Mystic Aquarium. He is a Board member for ZCOG (Zoo Conservation Outreach Group) and member of ZBPWG (Zoo Best Practices Working Group and AZA (Association of Zoos and Aquariums), where he also serves as a mentor for the AZA's 2017-21 ELDP (Executive Leadership Development Program). He previously served on Xavier University's Business Advisory Council and AZA's Safety & Diversity Committees. Over the years, he has facilitated many Diversity, Equity and Inclusion training workshops. He earned his Bachelor of Science degree in Accounting from Xavier University New Orleans, and an MBA in Finance and Accounting from Tulane University.

*The Warren Group, Inc. Mortgage Marketshare Module Report- All Residentials, All Regions in New London and Windham Counties, CT Annual 2020

**Apple, the Apple logo, Apple Pay, iPhone, TouchID and FaceID are trademarks of Apple Inc., registered in the U.S. and other countries.

Google Pay and the Google logo are trademarks of Google LLC. (c)2018 Google LLC, used with permission. Google and the Google logo are registered trademarks of Google LLC.

Samsung Pay and the Samsung logo are trademarks of Samsung Electronics Co., Ltd.

About Chelsea Groton Bank

Based in Groton, Conn., Chelsea Groton Bank is a full-service mutually owned bank with over $1.4 billion in assets. Chelsea Groton Bank's products and services include consumer banking, business banking, mortgage and business lending, cash management, financial planning and financial education programming. With 14 branch locations throughout New London County and a Loan Production Office in Hartford County, Chelsea Groton Bank also provides online and mobile banking, 24-hour telephone banking, and nationwide ATM banking for individuals, families and businesses. To learn more, please visit www.chelseagroton.com. Member FDIC. Equal Housing Lender. NMLS Institution ID 402928.

Related link: https://www.chelseagroton.com/

This news story was published by the Neotrope® News Network - all rights reserved.

Business, Free News Articles, Regional Events, Webinars

Chelsea Groton Bank, in Partnership with NCDC and GNACC, Offers Free Online Business Seminars for Local Entrepreneurs

GROTON, Conn. -- Chelsea Groton Bank kicks off their 8-week "CU Grow: Online Small Business Bootcamp" on April 1, 2021. The FREE small business series, designed for aspiring and established entrepreneurs, is offered through the Bank's financial education program, Chelsea University, in partnership with the Norwich Community Development Corporation (NCDC) and the Greater Norwich Area Chamber of Commerce (GNACC). Participants will walk away with a wealth of knowledge and a strong foundation for starting or growing a business.

"Chelsea Groton Bank is passionate about helping turn dreams into realities for businesses of all types. In addition to providing custom financial solutions, we proudly offer informational programs throughout the year to arm business owners with the tools they will need to be successful," shared Miria Gray, AS, Community Education Officer at Chelsea Groton Bank. "As so many business owners learned in 2020, it is critical for businesses to have their financial house in order and be able to market their services. These are just a few of the topics that will be covered throughout the series."

The instructor-led curriculum was developed jointly by the Federal Deposit Insurance Corporation (FDIC) and the U.S. Small Business Administration (SBA). Each class will be delivered by Chelsea Groton Bank team members and local professionals to provide aspiring or current small business owners a practical introduction to aspects of starting and managing a business.

All classes will meet online on Tuesdays from 12-1 PM and Thursdays from 6-7 PM in April and May. Class topics are: Is Owning a Business Right for You?, Banking Services, Business Plans, Public Speaking and Networking, Record Keeping, Risk Management, Credit for Businesses, Time Management, Organizational Types, Small Business Insurance, Financial Management and Cash Flow, Social Media Marketing, Tax Planning and Reporting, Websites, Emails and SEO, Chat with the Experts, and Using Adobe Spark to Create Videos. Community members are invited to register for individual classes or the entire series. Registration is required in order to receive log-in credentials for each class.

To learn more and to register, visit http://www.chelseagroton.com/ChelseaUniversity.

About Chelsea Groton Bank

Based in Groton, Conn., Chelsea Groton Bank is a full-service mutually owned bank with over $1.4 billion in assets. Chelsea Groton Bank's products and services include consumer banking, business banking, mortgage and business lending, cash management, financial planning and financial education programming. With 14 branch locations throughout New London County and a Loan Production Office in Hartford County, Chelsea Groton Bank also provides online and mobile banking, 24-hour telephone banking, and nationwide ATM banking for individuals, families and businesses. To learn more, please visit chelseagroton.com. Member FDIC. Equal Housing Lender. NMLS Institution ID 402928.

Related link: https://www.chelseagroton.com/

This news story was published by the Neotrope® News Network - all rights reserved.

Business, Free News Articles

Chelsea Groton Bank Introduces Local Chelsea|LIVE Video Banking Team and New Ways to Connect

GROTON, Conn. -- Chelsea Groton Bank is pleased to introduce Chelsea|LIVE Video Banking, a new digital personal experience that gives members the flexibility to bank when, where and how it's most convenient. There are currently two ways to connect with a Video Banker - either at one of the Bank's walk-up or drive-up Video Banking ATMs, or via a secure video call made through an app on a member's phone or computer.

"We are focused on providing innovative tools and services to our members, ensuring that they have convenient access to our team and their finances," said Jenn Pensa, EVP, Chief Innovation Officer at Chelsea Groton Bank. "We believe this technology will be invaluable to members of our community, both during pandemic times and after, providing them opportunities to interact with our team when, where, and how they want to. Chelsea|LIVE Video Banking is an example of a personalized customer-facing technology that will enable us to continue to enhance relationships and provide our trusted service to individuals and businesses even after-hours or off-site."

The Chelsea|LIVE Video Banking Team who will assist members and non-members at the Bank's walk-up and drive-up Video Banking ATMs, and when contacting a banker through the online and mobile app, includes Mariel Duran-Lora of Waterford, Alex Johnson of New London, Kyle Main of Canterbury, Dee Houde of Norwich, and Zina Secchiaroli of New London, as well as business bankers, commercial lenders, mortgage loan officers, and members of the wealth management team.

VIDEO BANKING ATMS

Video Banking ATMs have replaced the more traditional ATMs at the Bank's Mystic and Niantic walk-ups, and New London, Norwichtown and Norwich-Westside drive-ups, with additional locations coming this year. They offer the ability to speak directly with a local bank representative, in addition to typical ATM functions. Instead of inserting a card into the machine to make a simple withdrawal or deposit, users can touch the screen in order to be connected live to a video banker, who will assist with banking transactions, loan payments, cashing a check down to the penny, and many other tasks that would normally be completed inside a branch, during a live conversation on screen.

For those asking, "Why not just use an ATM?" here are a few reasons these tools will benefit the Bank's members:

1. No Debit Card or PIN Needed - Since a member is connecting face-to-face with a banker, members can verify their identity by providing a license or answering security questions if they've forgotten their debit card or PIN.

2. Banking Questions Answered - While you can't complete tasks that require signatures through the Video Banking ATM, members can ask financial questions, update account information, and so much more.

3. Enhanced Withdrawal and Deposit Features - Video Banking ATMs allow members to cash a check to the penny, receive cash in smaller denominations, have higher withdrawal limits, and transactions post immediately so a balance is available in real-time.

4. Extended Hours - Chelsea Groton's Video Banking team is available to assist members at walk-up and drive-up Video Banking ATMs Monday - Saturday, before and after traditional banking hours.

VIDEO BANKING APP

In addition to Video Banking ATMs, Chelsea Groton has also partnered with POPio Mobile Video Cloud (POPi/o), the industry's first interactive mobile video banking solution, to offer members an app similar to FaceTime or TeleHealth. Because of the added capabilities and built-in security features, bankers and members are able to share and sign documents, review proposals together and more, all during the live video call from a member's phone, tablet, or computer.

"We've already had experiences where, due to travel restrictions, members were unable to meet at a branch to sign documentation. We were able to have a meeting through the Video Banking App that allowed all parties to connect, converse and sign documents. This wouldn't have been feasible without the Video Banking App," explained Pensa.

Members can schedule a video call with any of the Chelsea|LIVE Video Bankers, or with a specific banker or department.

For more information about the new video banking channels, and to get to know the Chelsea|LIVE Video Banking team, visit http://www.chelseagroton.com/ChelseaLIVE.

About Chelsea Groton Bank

Based in Groton, Conn., Chelsea Groton Bank is a full-service mutually owned bank with over $1.4 billion in assets. Chelsea Groton Bank's products and services include consumer banking, business banking, mortgage and business lending, cash management, financial planning and financial education programming. With 14 branch locations throughout New London County and a Loan Production Office in Hartford County, Chelsea Groton Bank also provides online and mobile banking, 24-hour telephone banking, and nationwide ATM banking for individuals, families and businesses.

To learn more, please visit http://www.chelseagroton.com/.

Member FDIC. Equal Housing Lender. NMLS Institution ID 402928.

Related link: https://www.chelseagroton.com/

This news story was published by the Neotrope® News Network - all rights reserved.

Business, Free News Articles

Chelsea Groton Bank and Foundation Together Gave Record $1 Million this Year

GROTON, Conn. -- This year, Chelsea Groton Bank and its Foundation provided more than $1 Million to non-profit organizations in our communities. The Foundation recently approved $405,820 in grants to 68 non-profit organizations from Connecticut and Rhode Island, which put the full year's giving total above the $1 Million mark for the first time ever.

Earlier this year, the Foundation swiftly responded to support emergency relief efforts as well as needs across all giving categories in the wake of the pandemic, making the unprecedented decision to double the usual amount of total funds granted in a calendar year.

Half of the Foundation's approved funding this fall went to organizations providing Health & Human Services, including immediate critical needs such as healthcare, food, clothing and shelter. A grant donation of $25,000 was provided to Lawrence & Memorial Hospital for urgent needs due to the pandemic, and grants of $15,000 each were given to Salvation Army New London for the Boys and Girls Club of New London and COVID-19 Food Pantry, Salvation Army Norwich for their emergency assistance program and St. Vincent de Paul Place for their food pantry.

The Foundation also granted $30,000 to the Garde Arts Center in New London, enabling them to receive an additional $15,000 through the CT Dept. of Economic and Community Development. In addition, the Bank gave over $80,000 in sponsorships and grants for local teachers to use in their own virtual or in-person classrooms for educational activities with students.

"Our organization's roots are in this community. We knew there was no time more important to figure out a way to help people than in this time of great need. We're fortunate to have a Foundation and a commitment to community giving that can have such a positive impact on organizations in desperate need of support," shared Michael Rauh, President and CEO of Chelsea Groton Bank, and President of the Chelsea Groton Foundation. "We are committed to doing whatever it takes to support the non-profits in our area who make the community the wonderful place it is."

"When faced with these unique times, the Chelsea Groton Foundation Board responded by temporarily adjusting guidelines in order to provide financial support to more organizations in need. We are proud to give to organizations that support basic human needs - hunger, homelessness and healthcare - as well as those that provide education, economic growth, arts and cultural experiences, and more, especially in this great time of need."

For a fourth consecutive year, the Foundation has also made a significant grant commitment - $50,000 in 2020 - to Norwich Community Development Corporation (NCDC) for Global City Norwich, in order to train entrepreneurs and create a thriving downtown environment that will ensure increased traffic in area businesses.

The Foundation typically reviews applications and awards grants two times per year. Organizations who support critical needs are invited to apply for additional funding this year if needed, through the application on the Bank's website, http://www.chelseagroton.com/CGFoundation.

Each year, Chelsea Groton Bank and the Chelsea Groton Foundation support more than 300 local organizations through monetary gifts, grants, sponsorships, scholarships and employee volunteerism. More information, including a list of all fall grant recipients, is available at chelseagroton.com/CGFoundation.

About the Chelsea Groton Foundation

The Chelsea Groton Foundation was formed in June 1998 as a Section 501(c) (3) organization. Initially endowed with a $2 million donation from Chelsea Groton Bank, the Foundation has, to date, awarded over $4.4 million in grants to hundreds of scientific, educational and charitable organizations located within the Bank's market area. To learn more, visit: chelseagroton.com/CGFoundation.

About Chelsea Groton Bank

Based in Groton, Connecticut, Chelsea Groton Bank is a full-service mutually owned bank with over $1.4 billion in assets. Chelsea Groton Bank's products and services include consumer banking, business banking, mortgage and business lending, cash management, financial planning and financial education programming. With 14 branch locations throughout New London County and a Loan Production Office in Hartford County, Chelsea Groton Bank also provides online and mobile banking, 24-hour telephone banking, and nationwide ATM banking for individuals, families and businesses.

To learn more, please visit https://www.chelseagroton.com/.

Member FDIC. Equal Housing Lender.

Related link: https://www.chelseagroton.com/

This news story was published by the Neotrope® News Network - all rights reserved.