Press Release for Cape Cod 5
FOR IMMEDIATE RELEASE: July 7, 2020
Contact: Stephanie Dennehy for further information at firstname.lastname@example.org
Cape Cod 5 Modernizes its Foundation Structure
Commitment to supporting communities continues through
Bank and Foundation
Hyannis, MA – In its continuing efforts to modernize and enhance its ability to effectively support the
communities it serves, Cape Cod 5 has converted its Foundation Trust to a 501(c)3 corporation. Since
its creation in 1998, the Foundation Trust has given out over $12.4 million in grants to local nonprofit
organizations, scholarships to local college students and graduating high school students, and
Educational Mini-Grants to public school teachers in the region.
“These efforts to modernize the structure of our Foundation according to industry best practices allow
us to respond quickly to the rapidly changing needs of our community,” said Dorothy Savarese, Chair
& CEO of Cape Cod 5 and Chair of the Cape Cod 5 Foundation. “Both the Bank, as a mutual
institution without shareholders, and the Foundation share a commitment to utilizing our resources –
whether talent, time, or financial – to support the areas where we’re uniquely suited to make the
biggest impact. The Foundation giving complements the philanthropic donations of Cape Cod 5, which
on a combined basis for the last six years have exceeded $1 million annually.”
The Cape Cod 5 Foundation will continue to share the Bank’s commitment to five areas of focus:
accessible housing; economic sustainability; education and enrichment; environmental stewardship;
and community health, human need and active service members’ and veterans’ needs.
To find out more about Cape Cod 5’s community engagement efforts, or to submit a request for
support, go to www.capecodfive.com/community.
About Cape Cod 5
Founded in 1855, Cape Cod 5 is an independent state-chartered financial institution with over $3.6
billion in assets. Through its 26 offices, Cape Cod 5 offers a broad range of financial products and
services to customers living and working on Cape Cod, Martha’s Vineyard and Nantucket and in
Southeastern Massachusetts communities. Products and services include consumer and commercial
banking products; residential mortgages; investment management and trust services. Member FDIC.
Equal Housing Lender. NMLS #401717.