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FirstBank Neighborhood Program Being Launched

Oct. 9, 2004 – FirstBank Virgin Islands is accepting applications from local organizations from Oct. 12 through Nov. 12 for its annual Neighborhood Grant Program. FirstBank VI will award up to $2,000 per organization selected that is currently recognized as non-profit and tax exempt by the United States IRS under section 501 (c) (3) of the Internal Revenue Code.
The primary focus of the Neighborhood Grants is to make funding available for programs that promote or sustain economic development or assist in revitalizing or stabilizing low- and moderate-income communities. This would include funding for programs centered on affordable housing, small business development, youth programs, care for the homeless, financial literacy, job training programs, day care operations, health services, domestic violence prevention and addiction recovery programs.
In the last eight years, its Neighborhood Grant Program has donated approximately $400,000 to local charities. In 2003, FirstBank contributed to 24 different organizations throughout the territory.
According to a press release, the Neighborhood Grant Program is part of FirstBank's continuing commitment to the Virgin Islands community. It added that FirstBank is proud to have a dedicated Community Reinvestment team to benefit the Virgin Islands by participating in such programs, as well as being a supporter of numerous financial education initiatives, seminars and conferences.
"The Neighborhood Grant Program is one of the most notable ways that FirstBank gives back to the community. We know we can tremendously impact the well-being of the Virgin Islands community by supporting the essential work that is being done by recipient organizations across the territory." Says Karen Sprauve, Community Reinvestment Officer
"For a community to be sustained, it must demonstrate an expression of caring for one another. Each year as the neighborhood grants are awarded, it is a privilege to share in the expression of that care through the programs that the grants support." Cassan Pancham, first senior vice-president
Applications for the Neighborhood Grant Program are available at all FirstBank branches on St. Thomas, St. John and St. Croix and online at www.firstbankvi.com. Applications must be postmarked no later than Nov. 12.

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