American Savings Foundation was established by the board of directors of American Savings Bank to give back to the towns and communities served by the company for 140 years. The board believed that the bank should not only serve its customers well, but also help make the entire community a better place to live and work. They believed in the positive connection between good business practices and corporate social responsibility. American Savings Bank demonstrated the way in which a corporation should take a leadership role in philanthropy and community involvement.
The American Savings Foundation carries forward these values. It remains a permanent, independent charitable endowment dedicated to strengthening the community by supporting education, human services, and the arts, with a special emphasis on the needs of children, youth, and families. Since its inception in 1995, the American Savings Foundation has contributed a combined $47.8 million in grants to local nonprofit organizations, and in college scholarships to hard-working students in need of financial support.
Our founders created a legacy of help and hope. The endowment fund will continue to provide for this legacy in our community for generations. The Foundation works both independently and through the charitable organizations in our area that help people improve their lives. It provides not only financial support, but also helps organizations to work together more effectively. Working together, the community brings a meaningful measure of hope to underserved people who are struggling. The Foundation strives to steward the endowment wisely and contribute funds effectively. This strengthens all aspects of our community, and thereby improves the quality of life for everyone, which is the goal.
The Foundation is committed to the mission of continuing to give back to the Connecticut towns once served by American Savings Bank, and to continuing to invest in the people and organizations that make our communities strong. That is a lasting commitment.