Press Release

MountainOne Bank Supports Affordable Housing in Williamstown

Monday, November 9, 2015

group with check presentationWilliamstown, MA – Robert Fraser, President and CEO of MountainOne Bank, was on hand to present a check for $15,000 to Higher Ground in Williamstown, in support of community spaces and outdoor landscaping at the new Highland Woods affordable housing development.

Stated Fraser, “MountainOne Bank is committed to supporting our local communities. When Tropical Storm Irene devastated The Spruces, Higher Ground stepped in to help its residents, and MountainOne Bank has been providing ongoing assistance to support its mission. The group also advocates for the development of affordable housing and is now raising funds to enhance the living experience of those who will move into Highland Woods. We are pleased to be able to continue to support their efforts with this new commitment.”

According to Susan Puddester, Higher Ground President, “We are especially grateful to MountainOne Bank for its immediate response to the devastation of Tropical Storm Irene, beginning with the creation of The Community Fund for The Spruces in 2011, and its current role as the permanent lender for the Highland Woods project. This new donation is so generous on their part, and we truly feel their commitment to the Williamstown community.”

It is anticipated that Highland Woods will be ready for occupancy in early 2016. This 40-unit community will offer one- and two-bedroom apartments to those with incomes up to 60% of Area Median Income, and eight apartments will offer deeper subsidies. The facility is being developed by the Berkshire Housing Development Corporation in collaboration with the Women’s Institute for Housing and Economic Development, and with local support from Williamstown Elderly Housing Corporation and Higher Ground. Highland Woods is being built on land donated by Williams College, next to Proprietor’s Field in Williamstown.

ABOUT MOUNTAINONE BANK

Founded in 1848, MountainOne Bank has assets of over $800 million and provides a broad range of banking services supporting the needs of personal and business customers. MountainOne Bank has three full service offices serving the Berkshires, three serving Boston South, and one serving Boston North. MountainOne Bank is a subsidiary of MountainOne Financial, a mutual holding company headquartered in North Adams, MA. The following companies operate as divisions of MountainOne Bank: Coakley, Pierpan, Dolan & Collins Insurance; True North Insurance; and True North Financial (financial professionals offering securities and advisory services through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Advisor).

ABOUT HIGHER GROUND

Higher Ground is a charitable 501(c)3 organization located in Williamstown, MA. It was founded in November 2011 to help residents of The Spruces Mobile Home Park affected by the flooding from Tropical Storm Irene. Higher Ground’s focus is to work with Spruces residents as they move forward toward recovery. In addition to locally raised cash and gifts-in-kind, funds have also been secured from The Red Cross, ERD, UMCOR, Catholic Charities and the UCC in support of this work. Higher Ground is recognized by FEMA as a Long Term Recovery Group.