NO. R-50.† Senate concurrent resolution honoring the Northfield Savings Bank on the occasion of the financial institution's 135th anniversary.


Offered by:† Senator Doyle of Washington County, Senator Cummings of Washington County and Senator Scott of Washington County.

†††† Whereas, the Northfield Savings Bank, one of Vermontís premier community financial institutions, was chartered in November 1867 under the auspices of the Rev. Edward Bourns, the head of the military college which later became Norwich University, and

†††† Whereas, originally located in the headquarters of J.C.B. Thayerís Tailoring and Clothing in Northfield, the bank has since expanded to include eight regional branches in Barre, Bethel, Montpelier, Randolph, South Royalton, South Barre, Waitsfield, and Waterbury, and

†††† Whereas, Northfield Savings Bank was a pioneer in the provision of financial services in Vermont, being the first bank in central Vermont to act as a mortgage lender, the first, in 1967, in the state to utilize computerized data processing, and the first savings bank, in 1974, to offer checking services, and

†††† Whereas, as one of Vermontís few remaining mutual banks in Vermont, Northfield Savings Bank is depositor-owned, and nearly 60 local corporators elect the board of directors, and

†††† Whereas, as a locally-owned bank that has withstood the growing trend of out-of-state ownership, Northfield Savings Bank is focused on the local community, and in 2001, the bank donated $300,000.00 to area charities, part of more than $3 million in contributions during the last decade, and

†††† Whereas, the Northfield Savings Bank is an essential community institution for the approximately 20,000 area families and businesses that the bank serves, and

†††† Whereas, as it observes its 135th anniversary, the Northfield Savings Bank remains committed to serving the residents and businesses of central Vermont as a hometown bank, now therefore be it

†††† Resolved by the Senate and House of Representatives:

†††† That the General Assembly congratulates the Northfield Savings Bank on the occasion of the financial institutionís 135th anniversary, and be it further

†††† Resolved:† That the Secretary of State be directed to send a copy of this resolution to the Northfield Savings Bank.