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Skowhegan Savings invests $750K in affordable housing fund


By Staff
Skowhegan Savings Bank has invested $750,000 to support development of affordable housing in northern New England, and is one of 19 investors that committed $60.7 million in equity to the second Housing New England Fund.
The fund, run by the nonprofit organization Evernorth, will  be a significant financial resource for the region’s critical affordable housing needs, the bank said in a news release. 
Evernorth has offices in Portland and in Burlington, Vt.
“We realize the need for affordable housing in Maine remains strong,” said Rich St. Pierre, chief financial officer of Skowhegan Savings Bank. “This program not only creates affordable housing for Mainers but also provides job retention and creation in the management and development of these properties.” ....

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