Mechanics Savings Bank Receives Award

Mechanics Savings Bank Receives Corporate Leadership Award from College for ME-Androscoggin

Auburn, Maine

College for ME-Androscoggin recently honored Mechanics Savings Bank with its Corporate Leadership award for promoting higher education to its employees and the community.

Jan Phillips, Chair of the College for ME-Androscoggin Steering Committee, presented the award at its annual awards meeting on Dec. 5. Nearly 200 local business and education leaders as well as those who have benefited from the organization's services attended the event at Bates College.

"Since its founding in Auburn in 1875, Mechanics Savings Bank has been proud to be a local community bank," stated Phillips in making the presentation. "The people of Mechanics Savings Bank are strong believers in the local community banking business model which involves empowering local people, local decision making, local problem solving and support of the local communities they serve."

In 2007, the Bank donated 9% of its net profit to more than 96 non-profit organizations. Over the past 10 years, Mechanics Savings Bank has contributed greater than $1 million to non-profit organizations in the Androscoggin County and Lakes Region area. Of this amount, approximately 30% went to support college education through scholarships to local high schools and colleges.

"College education is an investment in the economic development of our region and State," said Rick Vail, President and CEO of Mechanics Savings Bank. "Supporting the educational needs of residents in our communities will continue to be a focal point of our charitable giving in the coming years."

Mechanics Savings Bank's support of education in 2008 exceeded $35,000 through its Banking on the Future Scholarship Program and donations to area colleges as well as support of College for ME-Androscoggin.

In addition, full-time Mechanics Savings Bank employees with six months' service are offered the opportunity to take four courses per year at accredited colleges in a degree program relevant to the banking industry or through The Center for Financial Training. Part-time employees have the opportunity to take two courses per year. The Bank also pays for books and for employees to attend seminars pertaining to their jobs.
College for ME-Androscoggin is a collaboration of leaders from education, business, and economic development committed to doubling the number of residents holding a college degree in Androscoggin County - from 15,000 to 30,000 - by 2015.

Founded in 1875, Mechanics Savings Bank currently serves customers from three branch offices located in Auburn, Lewiston, and Windham, Maine. Mechanics Savings Bank has assets of $260 million and participates in a surcharge-free ATM network that includes approximately 17,000 ATM locations nationwide. More information is available at www.mechanicssavings.com or by calling 1-877-886-1020. Mechanics Savings Bank is an FDIC Member.

Contact: Kristel Wagner, 755-9479

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