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Framingham’s First Responders Benefit From MutualOne Bank’s $10,000 Charitable Foundation Grant

Mark R. Haranas, president and CEO of MutualOne Bank and a MutualOne Bank Charitable Foundation trustee has announced that the Framingham Police Department will redirect an earlier $10,000 grant to fund the purchase of N95 respirator masks for the city’s first responders.

Framingham Police Chief Stephen D. Trask made the request, noting that the supply of masks was running low and he wanted to avoid any possible shortage.

“Our first responders are a vital link in our health care system,” said Haranas. “It is imperative that we provide them with as much personal protection as possible as they deal not only with the COVID-19 outbreak, but also the other life-threatening events to which they respond.”

Important information about deposit insurance at MutualOne Bank

Effective March 17, 2020, The Co-operative Central Bank (CCB) and its Share Insurance Fund (SIF) have merged into the Depositors Insurance Fund (DIF). As a result of this merger, all co-operative banks, including MutualOne Bank will now become members of the DIF. The deposit insurance coverage for amounts above the FDIC limit shall now be provided by the DIF. 

Importantly, this merger does not change the amount of deposit insurance coverage provided to depositors of co-operative banks. All deposits at MutualOne Bank and other Massachusetts co-operative banks continue to be insured in full. 

Each depositor is insured to at least $250,000 by the FDIC. Effective March 17, 2020, all deposits above the FDIC limit will now be insured by the DIF. This merger will benefit depositors by creating a deposit insurance fund with greater resources to protect deposits in member banks. 

Like the Share Insurance Fund, the Depositors Insurance Fund has a long history of protecting deposits in member Massachusetts chartered banks. Since 1934, when the SIF and DIF insurance funds were created, no depositor has lost a cent in a member bank. 

To learn more about the DIF’s history, operations, and deposit insurance coverage, please visit the Frequently Asked Questions page on the DIF’s website, or call the DIF at 781-938-1984.        

MutualOne Bank’s Charitable Foundation
 $7,500 grant supports teen mentoring program

Steven M. Sousa, executive vice president and chief operating officer of MutualOne Bank and a MutualOne Charitable Foundation trustee announced that the Foundation has awarded $7,500 to the John Andrew Mazie Memorial Foundation to support the Foundation’s Mazie Mentoring Program at Framingham High School.

The Mazie Mentoring Program works with students who face steep odds against realizing their potential. It provides the support and motivation they need to succeed in school and beyond.

“MutualOne Bank’s support of young people in Framingham is incredible – this truly helps us provide a high-quality mentoring program to teens that would not otherwise get the extra support,” said Senior Mazie Mentoring Program Director Rachel Constanzo. “Mentees consistently attribute this program as the reason they are thinking more about their future and pursuing education after high school, so it is not an exaggeration to say that this contribution will impact the Framingham community tremendously.”

“The mentoring program has a history of success in helping youth at risk continue their education and set and achieve their personal goals,” Sousa stated. “The MutualOne Charitable Foundation is pleased to support this work.”

MutualOne Bank’s Charitable Foundation $5,000 grant supports events for Natick seniors

Robert P. Lamprey, chairman of the MutualOne Charitable Foundation, announced that the Foundation has awarded $5,000 to Friends of Natick Senior Center to support the organization’s programs and activities.

“We are pleased to support the Friends’ efforts to provide funds for programs and activities to perpetuate the dignity and well-being of seniors in our community,” said Lamprey.

Saint Bridget School receives $10K grant from MutualOne Bank’s Charitable Foundation to upgrade kitchen facilities

A $10,000 grant from the MutualOne Charitable Foundation will help defray the cost to upgrade Saint Bridget School’s kitchen according to an announcement today by Mark R. Haranas, president and CEO of MutualOne Bank and a Foundation trustee.

The funds will be used to bring the kitchen up to standards necessary to run a hot lunch program and meet the requirements to become a qualified provider of a Free and Reduced Lunch program under Title I, according to Saint Bridget School Principal Cathleen Chaves.

“The school has done a great job evaluating the needs of its student population. As a result, they are bringing food service preparation in-house and ensuring that a hot lunch is available to all students,” said Haranas. “We are pleased that Saint Bridget School asked for our help.”

$8,910 grant will support enhanced programming at Framingham History Center

A recent $8,910 grant from the MutualOne Charitable Foundation to the Framingham History Center will be used to underwrite major changes to the Framingham History Center’s 3rd grade tours for students in the Framingham Public Schools.

According to Framingham History Center Executive Director Annie Murphy, the funds will be used to cover the cost of education coordinators and curriculum materials as the History Center expands its spring tours to include the newly renovated Village Hall.

“The City of Framingham has been very generous in their restoration of the Village Hall, and we are happy to support the new educational opportunities available at the Framingham History Center,” said Steven M. Sousa, executive vice president and chief operating officer of MutualOne Bank and a MutualOne Charitable Foundation trustee.

Celebrating MutualOne Bank’s Charitable Foundation grant to the Framingham History Center are (l-r): Chima F. Eugene, MutualOne Bank senior personal banker; Nancy Devine, MutualOne Bank vice president; and Annie Murphy, Framingham History Center executive director.

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