Liberty Bank Announces Record-breaking Community Impact in 2024
MIDDLETOWN, Conn. — David Glidden, president and CEO of Middletown-based Liberty Bank and president of the Liberty Bank Foundation, announced that the bank and its charitable foundation achieved another record year, with $4.8 million in corporate sponsorships and grant awards, as well as teammate volunteerism.
• Liberty Bank invested approximately $2.7 million in corporate sponsorships, donations, and other initiatives to more than 400 community organizations in Connecticut and Massachusetts. This includes their strong and ongoing community partnerships with the American Cancer Society, YMCAs, Boys and Girls Clubs, cultural and arts groups, business and industry organizations, and professional sports teams.
• The Liberty Bank Foundation awarded 141 grants totaling nearly $2.1 million, investing in programs and services that assist thousands of lower- to moderate-income children and families in the areas of education and training, affordable housing, and food security. This was Liberty’s highest dollar amount awarded in a single year.
Among the highlights in 2024 was the foundation’s 21st annual Thanksgiving Food Drive with local Rotary Clubs and the Community Foundation of Middlesex County, which raised $728,712 for Thanksgiving meals and food pantries. The foundation also made its largest-ever single grant when it awarded $1 million to support the Middlesex YMCA’s All Together Better capital campaign.
• Liberty Bank teammates logged 15,928 hours in volunteerism in 2024 with 631 organizations. One hundred percent of Liberty teammates participated in some kind of community volunteer activity in 2024.
• Liberty Bank invested $15.5 million in the development of various affordable-housing projects and solar-energy projects, and provided capacity building to several community-development financial institutions; invested $46.8 million in lending to a variety of affordable-housing developments; took part in 313 community-outreach activities covering various aspects of financial education; and offered 90 Academy of Small Business classes for first-time entrepreneurs.
• Liberty Bank completed its three-year Community Reinvestment Act examination conducted by the Federal Deposit Insurance Corp. Liberty was awarded an overall rating of ‘Outstanding,’ acknowledging that the bank has an outstanding record of helping to meet the credit needs of its assessment area, including low- and moderate-income neighborhoods.
“Our ‘Be Community Kind’ tagline is more than just our marketing brand. It’s the highest standard we set for ourselves when it comes to improving lives in our communities for generations to come,” Glidden said. “This year marks Liberty Bank’s 200th birthday, and what better way to kick off this historic year than announcing our most recent record-breaking results in corporate and charitable giving, volunteerism, and investments in community development.”