Washington Trust Announces $125,000 Charitable Donation to Support City of Central Falls' El Centro Initiative

Rhea-AI Summary

Washington Trust announced a $125,000 donation to the City of Central Falls for the development of El Centro, a community hub aimed at providing health, wellness, education, and workforce development resources. The five-year grant will aid in planning and redevelopment of the hub at 702 Broad Street. El Centro will connect residents with vital services such as mental health, public safety behavioral health, and small business assistance. Washington Trust's Chairman and CEO, Edward O. Handy III, expressed enthusiasm for the transformative project, while Central Falls Mayor Maria Rivera highlighted its potential impact on residents' lives. Additionally, Washington Trust supports financial education through programs in local schools.

Positive

• Washington Trust donated $125,000 to support El Centro, a hub for community services.
• The five-year grant will aid in planning, programming, and redevelopment of the building.
• El Centro aims to provide centralized health, wellness, and workforce development resources.
• The initiative includes support for mental health, public safety behavioral health, and small business assistance.
• Washington Trust supports financial education in local schools, providing software and classroom materials.
• Bank employees facilitated an 8-week financial literacy club and hosted a career networking session.

Negative

• The financial commitment is to $125,000 over five years, which may not be sufficient for long-term sustainability.
• Success of the El Centro project heavily relies on proper execution and ongoing support from various stakeholders.
• Potential risks of project delays or budget overruns could impact the efficacy of the initiative.

Effort will create hub for health, wellness, education, workforce development and other resources for residents of  Central Falls

WESTERLY, R.I., June 3, 2024 /PRNewswire/ -- Washington Trust ("the Bank") today announced  the Washington Trust Charitable Foundation has awarded $125,000 to the City of Central Falls to support the development of "El Centro," a centralized community hub that will provide significant health, wellness, and workforce development resources for the community. The five-year grant will support the planning, programming, and ongoing redevelopment of the building that will become future home of El Centro at 702 Broad Street.

El Centro will be a one-stop, centralized, culturally responsive resource that will connect all Central Falls residents and employees with the health, mental health, wellness, fitness, educational, workforce development, and other wraparound support necessary to thrive. The Central Falls Office of Constituent Services and Health, which will also be housed at El Centro, will expand to oversee liaisons (from existing service providers, where possible) for support and services such as the Domestic Violence Task Force, Behavioral & Mental Health, Public Safety Behavioral Health, Afterschool and Summer Education, Workforce Development and Small Business Assistance, and more.

"Washington Trust is thrilled to invest in the El Centro initiative in partnership with the leadership team of the City of Central Falls," said Edward O. "Ned" Handy III, Washington Trust Chairman and CEO. "This transformative project will provide and centralize critically needed community services for underserved residents and their families. We look forward to celebrating the success of the positive outcomes as the project gets underway!"

"We are grateful for the impactful support of Washington Trust that's visible throughout our city, from school programming to helping us make our dream of El Centro a reality," said Central Falls Mayor Maria Rivera. "El Centro will be life-changing for our residents, and none of its future resources or work would be possible without the generous support of our community partners who help our families thrive."

Washington Trust also provides financial education support and programming for several schools in Central Falls, including: Calcutt Middle School, Central Falls Senior High School, The Learning Community Charter School, and Segue Institute for Learning. Through the Bank's financial literacy program, all schools are provided with free financial education software, classroom materials, and the opportunity for Washington Trust employees to teach relevant financial wellness topics.

In 2024, Washington Trust employees also facilitated an 8-week after-school "Money Madness" club at The Learning Community Charter School, where Bank employees worked with middle grade students to explore financial topics such as saving, investing, and building a business. The Bank also recently hosted a Career Speed-Networking session, where Bank leaders had the opportunity to meet with all 8^th grade students in small groups to discuss the variety of career opportunities available in the banking industry.

To learn more about Washington Trust's commitment to the community, visit their website or follow Washington Trust on Facebook, X, and Instagram.

ABOUT WASHINGTON TRUST^®
Founded in 1800, Washington Trust is recognized as the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast's premier financial services companies. Washington Trust values its role as a community bank and is committed to helping the people, businesses, and organizations of New England improve their financial lives. The Bank offers a wide range of commercial banking, mortgage banking, personal banking and wealth management services through its offices in Rhode Island, Connecticut and Massachusetts and a full suite of convenient digital tools. Washington Trust is a member of the FDIC and an equal housing lender. Washington Trust is a subsidiary of Washington Trust Bancorp, Inc., a publicly-owned holding company which trades on NASDAQ: WASH. For more information, visit the Bank's website at www.washtrust.com or the Corporation's website at ir.washtrust.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/washington-trust-announces-125-000-charitable-donation-to-support-city-of-central-falls-el-centro-initiative-302161996.html

SOURCE The Washington Trust Company

FAQ

What is the significance of Washington Trust's $125,000 donation for WASH?

The donation supports the development of El Centro, a community hub in Central Falls, providing essential health, wellness, and workforce development resources.

How will the $125,000 donation from Washington Trust impact Central Falls?

The donation will support El Centro, helping to plan, program, and redevelop the building to offer centralized community services.

What services will El Centro provide with the support from Washington Trust?

El Centro will offer health, mental health, wellness, fitness, educational, workforce development, and small business assistance services.

What is the duration of Washington Trust's financial commitment to El Centro?

The $125,000 donation is spread over a five-year period.

How does Washington Trust support financial education in Central Falls?

Washington Trust provides financial education software, classroom materials, and organizes programs like the 'Money Madness' club and career networking sessions for local schools.