Worcester Business Journal

www.wbjournal.com Worcester Business Journal Giving Guide 2020 7 Knowledge + Experience + Trusted Advice. It all adds up. Large enough to serve the needs of most businesses and individuals; small enough to offer the personal attention you expect and deserve. Greenberg, Rosenblatt, Kull & Bitsoli, PC Certified Public Accountants 306 Main Street, Suite 400 • Worcester, MA 01608 508.791.0901 • www.grkb.com F inancial institutions are well known for helping individuals, families and busi- nesses navigate the often-confusing economic highway. But some banks go much further. Take Cornerstone Bank, for instance. Not only does Cornerstone efficiently assist with monetary matters, but the institution also deeply engag- es with and supports the communities it serves. Formed in 2017, Cornerstone Bank was built on the foundation of two long-stand- ing financial institutions: Southbridge Savings Bank and SpencerBANK, established in 1848 and 1871, respectively. Headquartered in Worcester, Cornerstone fol- lows in the footsteps of these two fiscal establish- ments and embraces a community-based banking model in all of its 13 branches. Todd Tallman, president and treasurer, reported that Cornerstone Bank offers a wide range of typi- cal business and commercial banking products and services. But unlike many other financial institutions, Cornerstone also provides investment services through Capstone Planning Group. While financial responsibilities are key, community involvement sits at the core of Cornerstone's culture. The bank created a Charitable Donations Committee, which gives precedence to non-profit organizations that support a variety of groups with a local focus. Community efforts are concentrated for the most part in South Worcester County, but Cornerstone stands ready to offer help wherever needed. "We are not just specif- ic to where branches are located. We are a good corporate partner, providing loans and deposits, but also giving back to the communities we serve," Tallman said. "Generally, we make financial based decisions and give back to philanthropic orga- nizations that support children, education, homeless shelters and food pantries." Educating the younger generation in financial matters is a top priority. Bank employees conduct financial education classes at local area high schools and elemen- tary schools to prepare students for the future. "Years ago schools would have taught some level of financial education. There is less of that now," Tallman said. "We are trying to fill the gap." Also, a significant portion of the Cornerstone budget – approx- imately $30,000 annually – goes to scholarships for graduating students. Cornerstone also supports the Dudley Charlton Education Foundation, Literacy Volunteers of Greater Worcester and South Central MA, StandUp For Kids Worcester and the Tri-Community Exchange Club. Tallman noted that Cornerstone has developed a solid relationship with the Worcester County Action Council (WCAC), offering significant financial support to its clients who require heating assistance. Additionally, when WCAC started a Volunteer Income Tax Assistance (VITA) program in Worcester and Southbridge, Cornerstone wanted to get involved. For the last three years several bank employees have offered pro bono tax services. "The entire Southbridge program is staffed by Cornerstone alone. We processed over fifty tax returns this year," Tallman said. In keeping with its local focus, Cornerstone supports the United Way, providing a 100 percent match to all employee contributions. In 2019, the bank received a Platinum Award for its $48,000 donation. Tallman said, "We are at a level where we feel the employees are driving that campaign as much as we are." CORNERSTONE BANK: Embracing a Culture of Giving Welcome Peter Staiti and Eric Gaetz to our commercial lending team! Here to support your business in Greater Worcester. Member FDIC Visit us online at RocklandTrust.com/Worcester Peter Staiti, First Vice President Commercial Lending Center Manager Peter.Staiti@RocklandTrust.com Eric Gaetz, Vice President Commercial Loan Officer Eric.Gaetz@RocklandTrust.com continues on page 9

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