Westfield Bank established The Future Fund in 2002 as a response to overwhelming community needs and the shrinking sources of corporate philanthropy.
The year of the fund’s inception is significant in that 2002 marked our 150th year of continuous service to the community. Our hometown of Westfield and the communities of Greater Springfield and Northern Connecticut have been good to us. The Future Fund is one of the many ways we pay tribute to our customers and contribute to important community-based initiatives.
The Future Fund’s primary funding priority is educational, recreational, cultural, and social service programs and projects. The Future Fund identifies organizations with 501c3 status that serve Westfield Bank’s market area, with grants awarded by determination of the Fund’s directors.
The Future Fund considers projects and initiatives that meet one or more of the following criteria:
- Impacts funding priorities stated above
- Includes a strategy for leveraging other resources
- Produces measurable results
- Provides opportunities for collaboration with other entities in the community
- Addresses critical community needs
- Are viable and sustainable
- Grant recipients must have 501c3 status
- Grant recipients must serve the market area served by Westfield Bank
The Future Fund's directors meet annually to determine grant funding. All 2021 grants will be awarded before March 31, 2021.
Nominations letters will be sent to prospective organizations in February 2021.