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Savings Institute Bank & Trust Contributes to seCTer Project

Apr 06, 2016

Groton CT  – Savings Institute Bank & Trust recently contributed $2,500 to South Eastern Connecticut Enterprise Region (seCTer). The bank’s contribution will be doubled by a grant provided by the Federal Economic Development Administration (EDA), meaning the cause will receive $5,000 in total funding due to the contribution.

“We are proud to contribute to an effort that combines both public and private investment to strengthen the region's economy,” stated Rheo Brouillard, Savings Institute Bank & Trust President and CEO. “SeCTer has proven to be an important asset in the area, one we are happy to partner with as it develops a comprehensive regional economic plan.”

The seCTer organization is comprised of 21 municipalities within New London County and the Town of Windham, who come together to prepare a Comprehensive Economic Development Strategy (CEDS) every five years. This strategy provides a direction, focus and framework for development in the region. C. Stephen MacKenzie, seCTer Executive Director spoke about the wide reaching efforts of the organization and its focus in the coming years. “We want to grow the region’s economy by recruiting supply chain companies for primary manufacturers such as Electric Boat, and by developing additional strategies to benefit entrepreneurs and small businesses in all of our industry clusters, including life sciences, tourism and agriculture.  This contribution will help us to accomplish our goals.”

To learn more about seCTer and their efforts for economic improvement please visit seCTer.org.

Pictured L-R: C. Stephen MacKenzie (seCTer Executive Director); Juliet Hodge (seCTer Project Manager); William Groves (Savings Institute Bank & Trust Groton Branch Manager)

Savings Institute Bank & Trust Company which is headquartered in Willimantic, Connecticut offers branches throughout Rhode Island and eastern Connecticut. At $1.4 Billion in assets, the Bank is a full service community-oriented financial institution dedicated to serving the financial service needs of consumers and businesses within its market area.