Westbrook, Maine – January 20, 2022 – In response to the rising cost of home heating oil, the Biddeford and Mechanics Savings Charitable Foundation has donated $25,000 to support the Keep ME Warm Fund, providing direct and immediate home heating assistance to financially vulnerable Mainers. “Making a contribution to the Keep ME Warm program will allow us to help our neighbors when Mainers need it most – during the winter months. No one should have to choose between paying for heat and other essentials like electricity and food. Our hope is that we can make the lives of individuals and families in the communities we serve a little easier this year,” says Jeanne Hulit, President and CEO of Maine Community Bank.

Although the coldest months are still ahead, the cost of home heating fuel in Maine has already increased significantly over last year and is expected to keep going up over the winter season. According to The Governor’s Energy Office, the average cost of heating fuel is currently at $3.14 per gallon, compared to $2.11 per gallon one year ago. Thousands of Mainers are faced with choosing between heating their homes and basic needs like food and medicine. Donations to Keep ME Warm help to make the winter warmer and safer for Maine families. The Biddeford and Mechanic Savings Charitable Foundation donation to Keep ME Warm Fund will help people across Maine, including the bank’s footprint in the Androscoggin, Cumberland, and York regions. Keep ME Warm Funds are distributed through 211 Maine, local United Ways, and community partners like The Opportunity Alliance (TOA) and others.

According to Liz Cotter Schlax, President and CEO of United Way of Southern Maine and Lead Administrator for Keep ME Warm Fund, a gift of $25,000 will help heat 80 Maine homes. “Keep ME Warm Fund is an emergency heating assistance resource to close the heating gap. When Mainers find themselves in an emergency heating crisis, they can access Keep ME Warm funds through our state’s 211 Maine hotline, their local United Way, or community action agency,” said Schlax. “These funds give our partners the flexibility and resources to help fill a tank or address repairs, often in the same day.”

The Keep ME Warm Fund, in partnership with local community service organizations, relies heavily on donations and distributes assistance based on need. “This winter will be challenging to our vulnerable neighbors who were already most at risk, and these funds will be crucial to keeping individuals and families warm, safe, and healthy in their homes during the coldest months,” says Joe Everett, President & CEO of The Opportunity Alliance. “Maine Community Bank is a wonderful partner and we are grateful for their longstanding support of communities across Central and Southern Maine.”

This donation wraps up a year of giving for Maine Community Bank and the Biddeford and Mechanic Savings Charitable Foundation totaling over $327,000 to 240 different organizations.

 

About Maine Community Bank

Biddeford Savings and Mechanics Savings have been financial partners with the people of Central and Southern Maine for the past 150 years. To help carry out their commitment to the communities they serve, the two banks merged on January 1, 2020, becoming divisions of Maine Community Bank. The merger expands the lending capacity, product offerings, and branch service areas, while keeping all decision-making at the local level. They have branches in Auburn, Biddeford, Brunswick, Kennebunk, Lewiston, Scarborough, Waterboro, and Windham, with a new branch and operations center in Westbrook.

About the Biddeford and Mechanics Savings Charitable Foundation

The Biddeford and Mechanics Savings Charitable Foundation was created in July of 2020 and is structured to give back to the communities in a larger, more enduring way. The Foundation’s mission is to help individuals and families in the bank’s local communities meet their basic needs and achieve financial empowerment.

Auburn, Maine – December 16, 2021 – In response to the growing number of food insecure Mainers (1 in 8 people and 1 in 6 children in Maine face hunger), the Biddeford and Mechanics Savings Foundation has committed $49,000 to 12 different organizations within the bank’s local communities. According to the USDA, food insecurity refers to the lack of access to adequate, nutritious food for all household members.

In order to make the most impact, the Foundation has pledged $5,000 to the Good Shepherd Food Bank in Auburn, in addition to $4,000 donations to 11 different organizations across the bank’s footprint:

Biddeford Food Pantry
Community Outreach Services
High Street Food Pantry
Mid Coast Hunger Prevention
Saco Food Pantry
Scarborough Food Pantry
St. Mary’s Nutrition Center
Trinity Jubilee Center
Westbrook Food Pantry
Waterboro Food Pantry
Windham Food Pantry and Clothes Closet

These 12 donations will help feed approximately 49,000 families of three, or the equivalent of 147,000 meals for food insecure Mainers. The Good Shepherd Food Bank and the 11 other hunger relief agencies provide essential services in partnership with food pantries, meal sites, senior and health centers, and schools across all 16 counties in Maine.

“Many Mainers have been hit hard financially as a result of the COVID-19 pandemic,” says Wayne Sherman, Chair of the Foundation. “That’s why The Biddeford and Mechanics Savings Foundation is focused on helping those who need it most – food insecure Mainers. We made the decision to spread our resources among 12 food pantries across the state so that we can help as many Mainers as possible to feed themselves and their families.”

 

About Maine Community Bank

Biddeford Savings and Mechanics Savings have been financial partners with the people of Central and Southern Maine for the past 150 years. To help carry out their commitment to the communities they serve, the two banks merged on January 1, 2020, becoming divisions of Maine Community Bank. The merger expands the lending capacity, product offerings, and branch service areas, while keeping all decision-making at the local level. They have branches in Auburn, Biddeford, Brunswick, Kennebunk, Lewiston, Scarborough, Waterboro, and Windham, with a new branch and operations center in Westbrook.

About the Biddeford and Mechanics Savings Foundation

The Biddeford and Mechanics Savings Charitable Foundation was created in July of 2020 and is structured to give back to the communities in a larger, more enduring way. The Foundation’s mission is to help individuals and families in the bank’s local communities meet their basic needs and achieve financial empowerment.

Lewiston, Maine – September 16, 2021 – The Biddeford and Mechanics Savings Foundation, in alignment with their mission to help individuals and families in the bank’s local communities, has committed $25,000 to help Safe Voices reach their goal of $1 Million for The Blueprint Campaign. Safe Voices provides emergency services, shelter, and support to victims of domestic violence in Androscoggin, Franklin, and Oxford counties. The largest philanthropic effort by any domestic violence resource center in Maine, The Blueprint campaign seeks to raise $1 million by the end of 2022 to create a 12,000 square foot resource center in the heart of downtown Lewiston.

“We are deeply grateful to the leadership at Maine Community Bank for this gift, and for their demonstrated commitment to improving the lives of all people in our community,” says Victoria Stanton, Director of Development and Engagement at Safe Voices. “Survivors of domestic violence and their children deserve dignity and services that support them throughout their entire journey to healing. Knowing that partners like Maine Community Bank share these values means so much to those of us called to do this work.”

The Foundation has received the honor of naming the Family Lounge, one of the rooms in the new, comprehensive resource center. “The new location will provide a welcoming space for families and individuals leaving a harmful situation, providing them with a sense of peace, knowing the support they need is here and the community stands behind them”, said Foundation Board Chair Wayne Sherman.

Jeanne Hulit, President & CEO of Maine Community Bank, the parent company of the Foundation added, “We are honored to continue our longstanding support for Safe Voices, an outstanding organization that does the much-needed work of providing support to victims of abuse in our community and helping those that have been victimized rebuild their lives.”

About Maine Community Bank
Biddeford Savings and Mechanics Savings have been financial partners to the people of Central and Southern Maine for the past 150 years. To help carry their commitment to the communities they serve, the two banks merged on January 1, 2020, becoming divisions of Maine Community Bank. The merger expands the lending capacity, product offerings, and branch service area, while keeping all decision making at the local level. They have branches in Auburn, Biddeford, Brunswick, Kennebunk, Lewiston, Scarborough, Waterboro, and Windham

About the Biddeford and Mechanics Savings Foundation
The Biddeford and Mechanics Savings Charitable Foundation was created in July 2020 and is structured to give back to the communities in a larger, more enduring way. The Foundation’s mission is to help individuals and families in the bank’s local communities meet their basic needs and achieve financial empowerment.

If you are getting a tax refund, please think carefully about what to do with the money.  I would be tempted to take a vacation or buy one of the newest, fanciest TVs but I would be much better served to reduce high cost debt (hello credit card account) or save the money.  If you have an ongoing balance on your credit card (or cards) a tax refund can play a useful role in reducing or eliminating that debt.  Since most credit cards carry high rates of interest using the refund to reduce those balances will greatly improve your financial picture.  If you don’t have credit card balances, saving the money for the proverbial rainy day is a good idea.  According to the experts, a household should have 3 months of income in reserve for unexpected expenses (like a new furnace or car repairs).  If you don’t have reserves at that level, here is a chance to add to (or start) a savings account.

If you own a small business you have a special set of concerns at tax time. Here are 5 steps to take to reduce your risk of problems with your business return.

1. File on time and pay the taxes due. Sounds simple but many business owners fail to do these simple things, resulting in penalties and interest charges.
2. Remember to make estimated tax payments during the year. A qualified tax preparer or tax software will tell you what you should be paying.
3. Take all the deductions you are entitled to but avoid the temptation to take unqualified deductions.
4. Take the time to maintain accurate records so that you or your tax preparer can complete accurate returns in a timely manner.
5. Use care if you are contemplating classifying workers as contractors, rather than as employees. This has become an area of focus for the IRS so use care.

In the movie Groundhog Day every day was like the preceding one. For me, it feels like I just finished last year’s tax returns yesterday and now it is filing season once again. How time flies. Unfortunately, with filing season we also get tax scam season. The hackers and criminals are always looking to make a buck so we need to protect ourselves. Fortunately, you can take steps to reduce your risk of getting scammed. First and foremost, you can reduce your risk by being aware of the more popular scams. You can learn a lot by visiting the IRS website, www.irs.gov as it has a wealth of information about scams and filing in general. Getting educated about potential scams and safeguarding your data will reduce your risk during tax season. Oh, and don’t forget to file!

The same week my friend died we euthanized our 13 year old dog.  She had cancer and was fading rapidly.  I don’t wish to compare the impact of a human’s life with that of a dog but both have value and can teach us something.  Our dog was a pound puppy, rescued from a tough city life and brought to the country.  She loved to run and was always wagging her tail and smiling.  For 13 years she would greet me when I came home from work, looking for a pat on the head, a walk, dinner, a treat.  Hers was a simple life but she was always in a good mood, always happy to see you.  She loved it when our now-grown children came home to visit because they would invite her up on the couch – usually forbidden territory.  She looked so content curled up with them, it really didn’t take a lot to make her smile.  Maybe that is her lesson – keep smiling, be happy when around family and friends, and enjoy each day.

Last week we buried a friend who died way too young, he was 57.  I knew him primarily through our shared passion for golf.  He loved the comradery and competition of golf as well as the fellowship during and after a round.  In addition, he was a good husband, father, friend to many, and businessman.  That was reinforced by the large number of people who came to his wake and funeral – there to honor him and support his wife and two children. At both events the tears were softened by laughter as we remembered good times we had shared.  He looked for the good in people and experiences, seemingly always in a good mood.  In his 57 years I believe he managed to accrue a full measure of life experience – he truly enjoyed each and every day.  While he made it look easy, I know he worked hard in all of his endeavors, especially in tending to relationships.  After all, what is more important than our relationships with those we love?  Even when career and life demand so much of our time and energy it is vitally important that we tend to our relationships with those dear to us.  I know I can do a better job in this area and his example and memory will, hopefully, help me to fully appreciate each day and to be a better person.  It seems like the least I can do to honor his memory.