LowellBank Supports Merrimack Valley Housing Partnership Project Genesis
with a $3,000 Grant to Educate New Homeowners
FOR IMMEDIATE RELEASE: November 14, 2011
CONTACT: Patricia Koczera
Vice President, Retail Banking
(978) 322-7030
Lowell, MA – LowellBank recently presented the Merrimack Valley Housing Partnership (MVHP) with a $3,000 grant in support of Project Genesis. Through the Project Genesis Home Buyer Training Program, first time homebuyers receive the education needed to make responsible and sustainable decisions. The program is part of a comprehensive effort by the MVHP designed to promote home ownership opportunities for low and moderate income earners in the Greater Lowell Community. Since its' conception in 1986, 12,000 families have completed the series of Project Genesis training seminars which are made available to participants in English, Spanish, and Khmer. Efforts to teach participants how to make smart lending decisions and to steer clear of predatory lenders have paid off as evidenced by the lack of graduates finding themselves in trouble with their mortgages
LowellBank Chairman and Chief Executive Officer, Rich Bolton and Michael R. Breda, Senior Vice President of Mortgage & Consumer Lending at LowellBank and a member of the MVHP Board of Directors, recently presented the grant to MVHP Executive Director, Jim Wilde. "The Project Genesis Home Buyer Course has resulted in many people being able to purchase a home who otherwise may not have qualified for their mortgage loan. This program is not only beneficial for the homeowner, but also key in making a positive contribution to the economic development of the Greater Lowell area," commented Breda.
MVHP Executive Director Jim Wilde greatly appreciates LowellBank's contribution to Project Genesis as well as to the MVHP's Annual Appeal for assistance to help meet their operating expenses. "We greatly appreciate the support and collaboration we enjoy with LowellBank. LowellBank recognizes that everyone benefits from responsible and sustainable home ownership and they appreciate the enormous benefit of providing solid preparation to home buyers," Wilde explains.
With assets in excess of $140 million, LowellBank has been serving the banking needs of the Greater Lowell Community since 1885. Two full service banking locations, a Lending and Operations Center in Lowell, MA and 17 Omega Mortgage locations throughout Southern New Hampshire, Massachusetts, Connecticut, Maine and Rhode Island offer customers full commercial, residential, and consumer products and services. All deposits are fully insured by the Federal Deposit Insurance Corporation (FDIC) and the Shareholder Insurance Fund (SIF).
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