At Belmont Savings Bank (“BSB”), we care about the people, local shops, nonprofit organizations and family-owned businesses that comprise the vibrant towns we serve. The missions and endeavors of these individuals and organizations enrich and inspire us daily. As a thank you for their hard work, diligence and ingenuity, we’re dedicating a series of blog posts to spotlight some of the individuals behind the programs, events and businesses that make these towns special.
The Watertown Education Foundation, Inc. got its start in 1992 when the community and the Watertown Public School system joined forces in support of the future of their children. The nonprofit organization has become ingrained in the fabric of the community, funding projects that enhance the schools and support superior teaching and educational leadership. The community rallies around the organization and celebrates its many achievements.
“We rely on the support and participation of Watertown’s residents and businesses in everything we do,” says Amy Donohue, co-president of the Watertown Education Foundation (WEF). Donohue is a longtime supporter of WEF, having held her post as president for five years, and serving as a board member for more than 10 years. As Watertown residents with four children attending Watertown Public Schools, Donohue and her husband believe in the work of the WEF.
WEF is currently focused on increasing visibility in the community, raising funds, partnering with others in the community, and a number of other important initiatives to advance opportunities for children in the public school system.
Through a partnership with Belmont Savings Bank, WEF has raised more than $15,000 to support student technology programs at Watertown Middle School. About two and a half years ago, Belmont Savings Bank launched its rewards checking program designed to fund such important initiatives for local children.
According to Donohue, the money raised by the rewards checking program—and supplemented by additional WEF funding—has purchased Chrome book carts for use by middle school students. Each cart holds 20 Chrome books to support academic programs.
The Chrome books have become a great school tool, allowing students to access the Internet, write with Google Docs, and advance skills with numerous math programs. Donohue says her involvement in the WEF collaboration with the bank has been a positive experience, and she considers the continued support remarkable.
“Belmont Savings has been a strong supporter of all our fundraising efforts,” Donohue explains. “They are eager to help and we know that we can count on them 100 percent.”
BSB sponsors several fundraising events for WEF throughout the year, including an annual dinner and the much-anticipated spelling bee, held each winter. The Watertown Youth Spelling Bee, hosted by WEF, is a fun and exciting town-wide competition for elementary students in grades 1-5. Representatives from BSB are on hand with the prize wheel, offering contestants and their families a chance to win cool prizes.
The bank’s Cash Cube appears at numerous local events in Watertown throughout the year, as part of its continued support of the public school system. The individual receives half of the money caught in the inflatable machine and the other half is donated to the WEF.
Are you interested in directly affecting the future of students in Watertown Public Schools? When you open a Belmont Savings Bank’s Watertown Education Rewards Checking account with a minimum deposit of $250, not only will you receive $50 directly in your account, but also the bank will contribute a $50 matched gift to benefit the WEF.* The bank will also continue to contribute 0.25 percent annual interest on the average monthly balance of your account to support programs at the WEF. The amenities don’t end there: you will also enjoy free mobile deposit, fee-free ATM usage at any bank or store, and more.**
*For both you and the school to earn $50, you must sign up for direct deposit or apply for a debit card or enroll in online banking. The $50 will be credited to your Watertown Education Rewards Checking account and a $50 contribution will be made to the WEF within 90 days following the addition of direct deposit, a completed debit card application or enrollment in online banking. A $250.00 minimum deposit (new money only) required to open a Watertown Education Rewards Checking account.
**Each statement cycle the Watertown Education Rewards Checking is inactive, all ATM surcharges for that statement cycle will apply. To avoid a $25.00 monthly service charge, the account must be active. Watertown Education Rewards Checking is considered active with direct deposit(s) within each statement cycle or $2500 average daily balance or 5 debit card POS (pinned or signature) transactions that post and settle during the statement cycle or 5 third party cleared checks per monthly statement cycle or five online bill payments during the monthly statement cycle. .25% annual interest is calculated on the average monthly balance of all Watertown Education Rewards Checking accounts and paid semi-annually (June & December) to the Watertown Education Foundation (WEF). Customers will be notified semi-annually (June & December) of the amount donated from their account.