2007 giving exceeds $50,000
The Jewett City Savings Bank Foundation recently awarded $32,000 to a total of 21 local non-profit civic and charitable groups, according to Foundation President Kevin C. Merchant.

Established in 2003 to reinforce, encourage, and support the Bank’s ongoing commitment to the well-being of the communities it serves, the Foundation has awarded more than $50,000 in grants this year alone.

Ten local fire and ambulance companies each received $1,000 for a variety of purposes from equipment and supplies to training programs and materials that will enhance their efforts to provide for the safety of local residents and property. Grant recipients included Atwood Hose Fire Company, Voluntown Community Ambulance, A.A. Young Hose and Ladder Co. #1, Moosup Fire Department, and Plainfield Fire Co. #1.

Also receiving $1,000 Foundation gifts were the Central Village Fire Co. #1, East Brooklyn Fire Department, Mortlake Fire Company, American Legion Ambulance Fund, Inc. and Oneco Fire Company.

At the opening of Jewett City Savings Bank’s new Dayville office earlier this year, the following fire companies each received a $600 donation from the Foundation: Attawaugan Fire Department, Danielson Fire Department, Dayville Fire Company, East Killingly Fire Department, South Killingly Fire Department and the Williamsville Fire Engine Company.

Libraries in Jewett City, Brooklyn, Moosup and Canterbury received a total of $8,750 in awards from the Foundation. The Slater Library and Fanning Annex was granted $3,000 to purchase a new copier for use by staff and the public. The Brooklyn Town Library Association received $2,800 to buy three laptop computers for its existing wireless network, available free to the public. The Aldrich Free Public Library in Moosup will use its $2,650 award to install an “Early Literacy Station” for youngsters, and the Canterbury Public Library will use the Foundation’s gift of $300 to educate patrons about carbon dioxide and how to reduce their “carbon footprint” and help address the issue of global warming.

The Foundation awarded Hospice of Southeastern Connecticut in Uncasville the amount of $2,000 to support its Patient Care Fund, which covers Hospice  supplies and services that are not reimbursed by insurance. The Griswold Regional Visiting Nurse Agency in Jewett City received $2,000 to continue the use of its telehealth monitoring system. A $3,000 gift to the St. Mary Food Pantry in Jewett City will help purchase food during the year for the needy families of the area.

The Thames Valley Music School in New London received a grant of $2,000 to provide scholarships for underprivileged students to participate in the Thames Valley Youth Symphony and string ensembles.  The Friends of Camp Quinebaug, Inc. will use its $500 gift from the Foundation for materials to implement a more-varied recreational program for individuals and their families.

United Community & Family Services in Norwich received $2,500 from the Foundation to purchase medical equipment to set up an exam room at its new Griswold site, and United Services, Inc. in Dayville will apply its $1,500 gift to implement a “Home and Community Safety Education” component to its PA/PEAS programs.

Additional grants awarded this year include $1,000 to each of the four area hospitals in response to their annual appeal campaigns; Backus Hospital in Norwich, Day Kimball Hospital in Putnam, Natchaug Hospital in Mansfield, and Windham Hospital in Willimantic.  The BackusCare project will be receiving the second $5,000 pledge of a five-year campaign towards improving the emergency department, surgical services for inpatients and outpatients, medical-surgical inpatient units, and cancer care services.

Performing Arts of Northeast Connecticut is receiving a $1,000 grant to support the Children’s Educational Opera Program, which will enable nearly 3,000 fifth grade students from the 26-town area to attend a live performance.  The Slater Library Corporation in Jewett City also received a $1,000 grant in response to its annual campaign.

Kevin C. Merchant, president and CEO of Jewett City Savings Bank, has announced the promotions of James A. McDonald of Essex and Kevin Goyen of East Hampton to positions of increased responsibility.

McDonald has been promoted to senior vice president and chief financial officer, with administrative oversight over the finance, information technology and deposit operations functions. He joined Jewett City Savings Bank in 1999 as controller, and was named vice president and controller in 2000 and to his most recent position as vice president and treasurer in 2001.

He began his financial services career 23 years ago with New Haven Savings Bank, advancing to positions of increased responsibility in the areas of accounting and operations with American National Bank, Founders Bank, Bank of New Haven and Citizens Bank of Connecticut prior to joining Jewett City Savings Bank.

A graduate of Enfield (CT) High School, McDonald attended Providence College and Southern Connecticut State University in Hamden, CT, the New England School of Banking and the American Bankers Association Stonier Graduate School of Banking.

Goyen, who was named technology manager in 2006, has been promoted to customer information security officer. He joined Jewett City Savings Bank as systems administrator in 1999.

He served in the U.S. Navy for 10 years as a naval air crewman and performed anti-submarine operations. He became a Master at Arms 1st class during his second enlistment in the Navy. Following his military service, he utilized computer skills gained as a hobby to land an entry-level job as a field service technician, gaining network and server skills and experience prior to joining the Bank.

Goyen is a graduate of Manchester (CT) Community College.

Safeguard against fraud and identity theft

Jewett City Savings Bank has joined the Go Direct campaign sponsored by the U.S. Department of the Treasury and the Federal Reserve Banks, to help senior citizens protect their monthly Social Security payments from financial crime.

Go Direct urges seniors, and others receiving federal benefit payments, to switch from paper checks to direct deposit.

“Direct deposit is safer, easier and more convenient than paper checks,” says Kevin Merchant, president and CEO of Jewett City Savings Bank, “and it gives seniors more control over their money.”

Merchant added that direct deposit eliminates the risk of forged checks and helps safeguard against identity theft.

“Last year alone, almost 57,000 checks issued by the U.S. Department of the Treasury were forged, totaling more than $54 million,” he said. “Although paper checks make up only 20 percent of the total number of Social Security payments, they account for more than 90 percent of reported problems.”

The Go Direct campaign makes switching to direct deposit easy with a toll-free enrollment number, (800) 333-1795 and web site, www.GoDirect.org. Switching to direct deposit is free and takes only a few minutes.

The bank’s customer service representatives will be happy to answer individual questions about direct deposit of Social Security and other payments into a Jewett City Savings Bank account, Merchant said.

Residents dreading this winter’s high cost of home heating fuel can find relief at Jewett City Savings Bank. 

For a limited time only, Jewett City Savings Bank is offering consumers the opportunity to earn a higher return on money they put aside to pay for energy costs this winter. The special Energy Savings Account will pay a guaranteed rate through April 18, 2008, on accounts originally opened by September 30, 2007, but, now extended to October 13, 2007.

 “This is a wonderful way to help offset the high cost of fuel,” said Kevin C. Merchant, president and CEO of Jewett City Savings Bank, “and saving systematically, in advance, also makes good sense.”

 A minimum of $100 is required to open an Energy Savings Account, and funds can be added at any time, in any amount. Customers can make up to six transfers (including writing three checks) from the account each month. The account is available at all offices of Jewett City Savings Bank.

For the 60^th consecutive quarter, Jewett City Savings Bank has earned a 5-Star Superior rating for financial strength from BauerFinancial, Inc., an independent national bank research firm.

BauerFinancial conducts a financial analysis of U.S. banks according to comprehensive formulas used to evaluate the institution’s financial performance. The banks are then assigned a star rating from zero to five, with five stars being the strongest.

Bank president Kevin C. Merchant stated that this most recent award places Jewett City Savings Bank in an elite group of banks considered “Exceptional Performance Banks” by the rating firm.

Jewett City Savings Bank is a mutual savings bank operating full-service offices in Jewett City, Brooklyn, Central Village, and Dayville. Established in 1873, the Bank is a member of the Federal Deposit Insurance Corporation (FDIC).

Based in Coral Gables, Florida, BauerFinancial, Inc. is the nation’s leading independent bank rating firm. It has been reporting on and analyzing the performance of US banks, thrifts and credit unions since 1983.

Kevin C. Merchant, a native of Norwich, has assumed the position of president and chief executive officer of Jewett City Savings Bank following the June 30 retirement of Reino E. Horstmeyer.

Merchant has over three decades of financial services experience, and has spent the past 26 years with Jewett City Savings Bank. He joined the Bank in 1981 as an assistant vice president, and was promoted to vice president two years later. He was named senior vice president in 2000.

“Kevin is a very talented banker,” Horstmeyer said of his successor. “He is well respected by his colleagues, and will bring a new enthusiasm and vision to the position.”

A graduate of Norwich Free Academy, Merchant went on to study at Central CT State University in New Britain, earning a bachelor’s degree in administrative sciences. He is a member of Jewett City Businessmen’s Club and several banking organizations and local chambers of commerce. Until recently, he was also actively involved with his daughters, Kristen and Lindsay, in their youth basketball and softball activities and coached the Connecticut Green Devils AAU fastpitch softball team.

Merchant lives in Sterling with his wife, Lori, and stepchildren Ariel and Zachary.

Reino E. Horstmeyer, president  and CEO of Jewett City Savings Bank, announced today that Brandy S. Landry of Danielson has been named branch manager/business development officer for the Bank’s newest full-service office, located at 560 Hartford Pike in Dayville.

Landry joins Jewett City Savings Bank from Citizens Bank in Colchester, where she was manager/business banking officer. She began her banking career at age 18 as a teller at Savings Bank of Manchester, joining Citizens Bank in 1999 as assistant manager at the Plainfield office. Her experience also includes branch management with Westbank in Putnam/Danielson. 

An honor roll graduate of Putnam High School, Landry studied business at Quinebaug Valley Community-Technical College. She is a member of the BNI Group and the Chamber of Commerce.

Richard Duda, a member of the Jewett City Savings Bank Board of Directors since 1982, retired from that post at the Bank’s 134th Annual Meeting of Corporators on March 28 at the Jacques Cartier Club in Jewett City.

Duda, a Jewett City resident, served as chairman of the Board from 1998 - 2004 after serving as vice chairman for the prior five years. He was a longstanding member of the nominating and audit committees during his tenure, and also served on the bylaws, benefits, executive, investment and long range planning committees.

 “Attorney Duda has provided wise counsel and guidance to the Board and its committees, and has left his imprint on many of our decisions and who we are today,” said Reino E. Hortsmeyer, president and CEO of Jewett City Savings Bank.

Horstmeyer cited Duda’s many contributions during his tenure, including  his involvement and counsel in areas such as land acquisition and conveyance, branch and office construction and renovations, office consolidations, the introduction of banking technology, the creation of the Griswold High School scholarship trust, and the establishment of the Jewett City Savings Bank Foundation.

 “Richard’s association with the Bank as a Director, and his insights as Bank counsel, have been extremely beneficial,” said Horstmeyer. “His perspectives, his caring about the Bank and the community, and his attention to detail have effectively guided us in our deliberations and decisions.

 “During his 25 years on the Board, the Bank has done many things of which we can be proud, and which have improved the quality of life in the communities we serve,” added Horstmeyer.

Diane L. Manning of Jewett City was elected to the Board of Directors of Jewett City Savings Bank at the 134th Annual Meeting of Corporators held on March 28 at the Jacques Cartier Club in Jewett City. Manning has been a Corporator of the Bank since 2004.

She was elected to serve the remainder of the term of Director Richard Duda of Jewett City, who retired recently after 25 years of service to the Bank.

Manning is president and CEO of United Services, Inc. in Dayville, a social and mental health services provider with 250 employees at 16 sites throughout Northeastern Connecticut and an annual operating budget of $13.4 million

Reino E. Horstmeyer, president and CEO of Jewett City Savings Bank since 1980, announced his pending retirement at  the 134th Annual Meeting of the Corporators of Jewett City Savings Bank held on March 28 at the Jacques Cartier Club in Jewett City.

Kevin Merchant of Sterling, senior vice president, will take over as president and CEO following Horstmeyer’s June 30th retirement.

Horstmeyer, a Canterbury resident, joined Jewett City Savings Bank in 1970 as a management trainee slated to manage the Bank’s first branch office, in Central Village. He was named to lead the Bank a decade later. At the Annual Meeting, he thanked “the Board members who gave me guidance and Corporators who supported me over the years.”

He praised the selection of Merchant as his successor.

“Kevin is a very talented banker with over 30 years of experience, over 26 with Jewett City Savings,” Horstmeyer said. “ He is respected by his fellow employees, and will bring a new enthusiasm and vision to the position.

“ I will leave knowing the Bank remains in good hands,” he added.

Horstmeyer also announced the promotion of Diana L.  Rose of Canterbury to vice president and senior retail officer, a new position. Now responsible for the Bank’s marketing efforts, Rose’s new responsibilities will also include branch oversight and support of the Bank’s retail efforts.