Institution for Savings donates $10k to Fishing Vessel Lily Jean Fund
The Salem News, 4/10/26
By Bobby Grady, Staff Writer, April 10, 2026
The Institution for Savings has donated $10,000 to the Fishing Vessel Lily Jean Fund to support the families impacted by the Jan. 30 tragedy.
The 72-foot Lily Jean was returning to port early Jan. 30 to repair fishing gear when it sank in frigid Atlantic waters about 25 miles away from the historic fishing port of Gloucester with no mayday. The Coast Guard was alerted when an emergency position-indicating radio beacon, or EPIRB, was activated. The body of Capt. Accursio “Gus” Sanfilippo was recovered at the site. The other crew lost at sea were Paul Beal Sr., Paul Beal Jr., John Rousanidis, Freeman Short, Sean Therrien and Jada Samitt, a NOAA fishery observer.
The Institution for Savings announced the donation through its Charitable Foundation on Wednesday. The bank is also supporting the fundraising concert May 17 at The Cut, 177 Main St., where 100% of all proceeds will be donated to the fund. The concert will run from noon to 9 p.m. and is expected to feature 20 local artists, bands and storytellers. An entry wristband will allow attendees to come and go but seating will be first-serve. Tickets are $20 each. For more information, visit thecutlive.com.
“This was an unthinkable tragedy suffered by the families of the crew members who lost their lives and for the Gloucester community as a whole,” said Michael J. Jones, the president and CEO of the Institution for Savings. “While these funds will never make up for this heartbreaking loss of life, we are grateful to be part of a broader community effort to provide some support and comfort to those families who lost so much on that tragic day.”
At its annual meeting in March, the bank reported net income of $49 million for 2025, an increase of $10.2 million over the prior year, and a return on assets of 0.91%. Jones at that time said the bank’s financial strength allowed its charitable foundation to contribute over $2.3 million to local non-profit organizations last year.
On Cape Ann, the Newburyport-based Institution for Savings operates branches at 4 Parker St. in Gloucester, and 37 King St. in Rockport.
Fund organizers Cape Ann Savings Bank President Marianne Smith, Gloucester Fishing Community Preservation Fund member Vito Giacalone and Bank Gloucester President Patrick Thorpe recently appeared in a video to solicit donations as an anonymous donor pledged to match $40,000 in donations.
Other recent donations include $1,404 from Gloucester-based professional wrestling group Outlaw Championship Wrestling, $10,000 from the Gloucester Rotary Club and $11,613 from the St. Peter’s Club. New Gloucester, Maine, residents Kimberly Brusseau and Beverly Cadigan last week presented Mayor Paul Lundberg with a check for $3,282, all of which was raised by the town’s 6,000 residents. The donation also included sympathy cards and gift bags from Maine Fudge for each family affected.
The Fishing Vessel Lily Jean Fund was started by the Gloucester Fishing Community Preservation Fund which is accepting tax-deductible donations. All contributions to the FV Lily Jean Fund will be distributed equally among the seven families.
Anyone who wants to contribute to Fishing Vessel Lily Jean Fund can do so in the following ways:
— Online: Visit FVLilyJeanFund.org to make donations via credit or debit card, PayPal or Venmo. To maximize impact, donors are asked to increase their donation by one dollar because of processing fees.
— Checks: Checks can be made out to Gloucester Fishing Community Preservation Fund or GFCPF, with “Lily Jean Fund” on the memo line, and be mailed to Gloucester Fishing Community Preservation Fund c/o Cape Ann Savings Bank, 109 Main St., Gloucester, MA 01930.
— In person: Donations may also be made at any Cape Ann Savings Bank or any Bank Gloucester location.
IFS Donated & Pledged Over $750,000 to More Than 125 Local Nonprofits in the First Quarter of 2026
Newburyport, MA – The Institution for Savings, through its Charitable Foundation, awarded and pledged $753,000 in the first quarter of 2026, announced President and Chief Executive Officer Michael J. Jones.
The largest grants included four payments as part of multi-year pledges including $100,000 to Seacoast Regional Food Hub, $100,000 to Sawyer Library Foundation, $50,000 to Change is Simple and $30,000 to Jeanne Geiger Crisis Center. Additional major grants included $45,000 to The Salem Pantry, $25,000 to the Newburyport Education Foundation, $25,000 to The Firehouse Center for the Arts, $20,000 to Wellspring House, Inc. and $10,000 to Gloucester Fishing Community Preservation’s F/V Lily Jean Fund and a $50,000 pledge to Rockport Music.
“Our vision is to positively affect the lives of every person, business and organization in the communities we serve,” said Mr. Jones. “With more than 165 applications received this quarter alone, the need is clear. We are proud to share our financial successes through our Charitable Foundation to support essential offerings like food access, social services and health care, while also uplifting programs in the arts, education and outdoor spaces that help our communities thrive.”
Other nonprofit organizations that received first-quarter grants from the Bank include: 1st Lt. Derek Hines Soldier Assistance Fund, 44/14 Fund the Jeff Stone Foundation, Actors Studio of Newburyport, AHS Grad Night, Alliance of Climate & Environmental Stewards, Inc., AltaMar Foundation, Alzheimer's Disease and Related Disorders, Amirah Inc., Anna Jaques Hospital, Annisquam Village Players Inc., Ascension Memorial Church, Beverly 400, Beverly Citywide PTO
Beverly High School PTO, Beverly Middle School PTO, Beverly Rotary Club Foundation, Boxford Athletic Association Inc., Bread & Roses Inc., Bridgewell Inc., Cantemus Chamber Chorus, Change is Simple, Children's Center for Communication, Citizens Inn, Inc., Citizens of the World Inc., City Improvement Society of Newburyport, Colleen E Ritzer Memorial Fund Inc., Community Giving Tree, Dirty Hands Project, Educational Foundation for Rockport Inc., Essex County Trail Association, Essex National Heritage Commission Inc., Firehouse Center for the Arts, Food Project Inc., Friends of Buker Elementary School, Friends of Newbury Town Library Inc., Friends of Newburyport Youth Services Inc., Friends of Rockport Athletics, Friends of Veasey Park Inc., Georgetown Historical Society, Girl Scouts of Eastern Massachusetts, Gloucester Fishing Community Preservation Fund Inc., Gloucester High School, Greater Lynn Senior Services, Inc., Hamilton-Wenham High School, Hannah Elementary School PTO, House of the Seven Gables Settlement Association, Housing Support Inc., Ipswich High School, Jeanne Geiger Crisis Center, John Ashford Link House Inc., La Vida Inc., Lawrence Community Works Inc., Leap for Education Inc., Lucy's Love Bus Charitable Trust Inc., Lynn Shelter Association Inc., Masconomet Regional High School, Merrimack Valley Housing Partnership Inc., Merrohawke Nature School Inc., Middleton Council on Aging, Montserrat College of Art Inc., My Brother's Table and My Lifeline.
Also: Newbury Elementary School PTA, Newburyport Choral Society Inc., Newburyport Education Foundation, Newburyport Horticultural Society, Newburyport Maritime Society Inc., Newburyport Pride Coalition, North of Boston Cancer Resource, North Shore Community College Foundation Inc., Northeast Arc Inc., Nourishing the North Shore, On Stage Inc., Opportunity Works Inc., Our Neighbors' Table, Pathways for Children, Pawsitively 4 Pink, Pentucket Regional High School, Pentucket Youth Football, Pine Grove School PTA, Plummer Youth Promise Inc., Project Adventure, Inc., Resolution Center Inc., Rest-Stop-Ranch Inc., Rockport Art Association, Rockport Exchange Corporation, Rockport Garden Club Inc., Rockport High School, Rockport Illumination Fund Inc.,, Rocky Neck Art Colony, Rotary Club of Newburyport, Rowley Youth Baseball & Softball League, Runway for Recovery, Rupert A. Nock Middle School PTO, Ruth's House, Salem Academy Charter School Foundation Inc., Salem High School, Salem Pantry Inc., Salem State University Alumni Association, Salisbury Beach Betterment Association, Salisbury Historical Society, Salisbury Parks and Recreation Commission, Sawyer Free Library, SeniorCare Inc., SGT Jordan M. Shay Memorial Foundation, Si, Se Puede, Inc., SPUR, Swampscott Tides Inc., Symphony by the Sea, Team Red White & Blue Inc., Three Sisters Garden Project, Topsfield Community Partnership, LLC., Topsfield Historical Society, Tough Warrior Princess, Travis Eliot Landreth Foundation, Triton Viking Gradventure, Triton Youth Basketball, Tri-Town Council, Turning Point Inc., UMass Amherst Bursar's Office, VNA Care Network Inc., Wellspring House Inc., West Newbury PTO, West Newbury Youth League and YWCA Northeastern Massachusetts Inc.
The Institution for Savings Charitable Foundation, established in 1997, provides a vehicle for the Bank to share its success with the communities that are responsible for that success. Through the Grant Committee, the Foundation awards funds to organizations in Amesbury, Beverly, Byfield, Gloucester, Groveland, Hamilton, Ipswich, Middleton, Newburyport, Newbury, Rockport, Rowley, Salem, Salisbury, Topsfield, Wenham, West Newbury and the surrounding communities designated as charities under IRS section 501(c)(3). For more information, visit institutionforsavings/charitable-giving.com.
Institution for Savings announces new hire
Newburyport Daily News, 4/8/26
The Methuen resident holds a bachelor’s degree from Merrimack College, as well as certifications in loan originator compliance, fair housing marketing and lottery. Outside of work, she has strong ties in the Lawrence and Methuen communities.
Rodriguez works at the Institution for Savings’ 68 Storey Avenue, Newburyport, location and travels throughout Essex County to meet with borrowers. She can be contacted at 978-225-1325 or arodriguez@ifs.bank.
AHS to receive new technology thanks to grant
AMESBURY — Amesbury High School students will soon benefit from upgraded technology thanks to a grant funded by two local entities.
Due to funding from the Institution for Savings and the Cammett Remembrance Fund – whose proceeds are raised in the names of Woody and Marcia Cammett – the high school will soon install an upgraded computer server, allowing for better learning opportunities.
The process began when the school’s science department head and AP chemistry teacher Mark Casto wrote a grant with hope of furthering his students’ education by updating the school’s technology.
“One of the reasons I wrote this grant is because I talk to students all the time, and I know what they need,” he said.
Then, Casto reached out to the Amesbury Educational Foundation, which made a $23,000 grant request to the Institution for Savings. Ultimately, the bank agreed to give the school a $15,000 grant, with the remaining $8,000 coming from the Cammett Remembrance Fund.
“We’re really happy to help the school and the Educational Foundation. And, seeing it firsthand is just so important. Because what the $15,000 is doing is remarkable,” Kim Rock, executive vice president and chief operating officer at the Institution for Savings, said during Thursday’s visit to the school.
Casto said the new technology will likely have a positive impact on the day-to-day work students do in school.
“You see students waiting around for certain things to render, and hopefully with this server, things happen a little bit quicker. We also may have the freedom to install new programs on there that they can’t run right now just because we don’t have the capacity to run them,” he said.
Superintendent Elizabeth McAndrews said she is glad students will have advanced tools at their disposal.
“I think it’s absolutely incredible. I think we have incredible kids. We have incredible teachers, and now have incredible equipment needed to be able to challenge the kids to grow and to prepare them for college or not college, the workplace. It’s incredible to be competitive in the real world,” she said.
Similarly, Amesbury Educational Foundation President Bill Messner said the technology will give students a leg up in their lives after high school.
“It allows them to do the things they’re going to do in real life. In fact, it’s preparing them for getting ahead in college, if that’s the way they go, for having internships, for getting experience actually making things,” he said.
Soon, the server will be installed and students will be able to access and enjoy the new technology, Casto said.
“We’re trying to figure out a window of time we can get that installed, and hopefully up and running by the fall,” he said.
Rec. Center Gym to Be Named After Former Mayor
NEWBURYPORT — As the Recreation and Youth Services Center at 59 Low St. continues to take shape, it was recently announced that the building’s gymnasium will be named after former Mayor Mary Anne Clancy.
“It's such an important thing for our kids and our grandkids and the legacy that it means for the city,” Clancy said. “So to have my name associated with it is just heartfelt for me. I can't think of anything more special.”
Once completed, the recreation center will house the city’s Recreation and Youth Services Department (RYS), which has been without a permanent home since 2021, when the boiler at its last location, the former Brown School, was deemed unusable.
On May 13, voters approved a $6.5 million debt exclusion to pay for most of the city’s $8.3 million plan to build the center.
The complex will include a gymnasium, lobby, offices for RYS staff, a flexible art/maker space, an early education area, meeting and quiet study space, as well as multipurpose space.
A half-basketball court will also be built outside to go along with a new patio, enclosed play space and an open lawn area.
Harvard-based L.D. Russo Inc. was awarded the contract after submitting the lowest bid, $7.1 million, last March. Ground was broken on the project in September.
Officials confirmed earlier this month that the project remains on pace for completion in November.
The Institution for Savings (IFS) was granted naming rights to the gymnasium as part of five-year, $50,000 per year gift the bank gave toward the project, which the City Council accepted during its meeting Monday night.
The bank's Board of Trustees then voted unanimously to transfer its gymnasium naming rights to recognize Clancy’s career of impact and contributions, particularly focused on supporting kids. The new gymnasium will be known as the Mary Anne Bresnahan Clancy Gymnasium.
“Naming the gymnasium at the new Recreation & Youth Services Center after Mary Anne Clancy is deeply meaningful to all of us at the Bank and the Board of Trustees,” President and CEO Michael Jones said in a statement. “Mary Anne’s career has been defined by her unwavering commitment to others, especially kids.”
Clancy found out about the naming this week at her retirement party. She will retire as the bank's senior vice president of marketing and communications at the end of this month after 20 years of leadership at the bank.
“I was blown away,” Clancy said. “I never, ever would have expected any gift like that. It was just so generous and such a heartfelt gift.”
Clancy is not the only member of her family to have naming rights within the city, as the Francis T. Bresnahan Elementary School is named after her father. She said sharing that in common with him is a “surreal feeling.”
Mayor Sean Reardon was there when Clancy first learned the news, and spoke highly of the long-time city leader.
“Mary Anne Clancy is a giant in this community,” Reardon said in a statement. “Her dedication to making Newburyport a better place is unmatched, and her influence is felt in every corner of our city."
He said she was his “first call when we began planning the Recreation and Youth Services Center.”
“Her guidance, intelligence and remarkable ability to connect with people helped drive this project forward,” Reardon said. “This honor from the Institution for Savings could not be more fitting. Mary Anne has been one of the project’s fiercest supporters and we are incredibly fortunate to have her leadership and her heart behind Newburyport.”
During Clancy’s time as mayor in the early 2000’s, the city faced a series of challenges related to substance abuse and mental health. Under her leadership, the city established its first Task Force on Substance Abuse which later evolved into the Beacon Coalition and the hiring of the city’s first ever and still serving director of Newburyport Youth Services, Andrea Egmont.
“When Mary Anne Clancy was mayor in 2005, she recognized that Newburyport’s most urgent responsibility was supporting young people during a very difficult time,” Egmont said, in a statement. “Rather than focusing on creating a full parks and recreation department, she prioritized youth needs and championed the creation of a youth coordinator position, allowing it to be shaped by the community.”
She said that Clancy’s leadership “laid the foundation for what became Newburyport Youth Services and today’s Recreation & Youth Services.”
“We are proud to honor her vision and lasting commitment to the city and its young people by naming the gymnasium after her,” Egmont said.
The center is set to be a hub for children and adults, offering everything from after-school programs, summer camps, and community activities.
“We look forward to seeing Mary Anne’s grandchildren and generations of Newburyport families spend countless hours in the Mary Anne Bresnahan Clancy Gymnasium,” Jones said.
Meet the 2026 40 Under 40 Honorees
Boston Business Journal, 3/23/26
By Maya Shavit, Projects Reporter, Boston Business Journal
Mar 23, 2026
The Boston Business Journal has chosen the 2026 honorees for its annual 40 Under 40 program highlighting the best young professionals in Greater Boston.
The 40 Under 40 lineup names the newest stars of the business community. Executive leadership at the Business Journal chose 40 outstanding honorees out of nearly 300 submissions. Honorees were selected for their professional and personal achievements as well as their contributions to the local business community.
The class of 2026 are diverse demographically, geographically and industry.
Here are a few stats on the 2026 class:
- Real estate is the most common profession for the leaders.
- More than a third of honorees identify as people of color.
- Nearly a quarter of honorees founded or own their company.
Each honoree will be profiled to highlight their accomplishments and backgrounds in a special section of the Boston Business Journal this spring. The honorees will be celebrated on May 20 at Big Night Live.
And here is a complete list of honorees:
- Juan Jose Barnabe Perez, HRI Hospital
- Mike Brucat, CBRE
- Judy Cazeau, The OPAC Group
- Chris Costa, CardVault by Tom Brady
- Christian DeJesus Franco, ALPFA Boston
- Sharon Durkan, Boston City Council
- Courtney Dwyer, In Your Court
- Sara Falkson, Robyn Athletic
- Adam Golding, Vi-Leon
- Angelica Gomez, NeighborWorks Housing Solutions
- Daniel Guadagnoli, The Fallon Co.
- Stephen Hanton, Nixon Peabody LLP
- Ming Min Hui, Boston Ballet
- Carter Huffman, Modulate
- Bobby Kelly, Arch Street Glass
- Jen Liang, Novastone Capital Advisors
- Tariana Little, EmVision Productions
- Mary Lupoli, The Lupoli Cos.
- James Massaquoi, Glasswing Ventures
- Andrew Meyer, Pickle Robot Co.
- Alankrita Narang, Boston Harbor Now
- Colleen O'Connor, BioMed Realty
- Toni Phelps, Boston Medical Center Health System
- Aliesha Porcena, Boston Office of Small Business
- Vyas Ramanan, Third Rock Ventures
- Jazmine Ramirez, MassMutual
- Samantha Randel, Randel & Co.
- Erblin Ribari, Manaxo Inc.
- Jovanny Rosado, Denterlein
- Danielle Roth, Santander Bank
- Tara Singh, Hinckley Allen
- Lindsay St. Pierre, Institution for Savings
- Matthew Starr, Boston Showcase Co.
- Michael Sullivan, Plante Moran
- Stephanie Swanson, Associated Industries of Massachusetts
- Ming "Tommy" Tang, AstraZeneca
- Danyson Tavares, Boston Society for Architecture
- Aimee Tsakirellis, Cedar’s Mediterranean Foods
- Erin Vautour, South Coast Improvement Co.
- Danielle Waldman, Silversmith Capital
Celebrating 20 years of financial education
Newburyport Daily News, 3/16/26
NEWBURYPORT — Friday was a momentous day for Bresnahan Elementary third-graders as well as former Mayor Mary Anne Clancy as she celebrated her upcoming retirement from the Institution for Savings with one final lesson on finances.
“I am so excited to be here today,” Clancy said.
For 20 years, Clancy led the bank’s financial education effort, and Friday she stood ready for one last lesson in the center of the gymnasium of the elementary school named after her late father, Francis T. Bresnahan, surrounded by colleagues, students and current Mayor Sean Reardon.
Beginning at 11:45 a.m., Clancy presented “Be a Smart Saver” to the third-grade students.
One of her first questions was, “What is money?”
“It’s the stuff you need when you want to buy something like a house,” one student called out.
Clancy agreed, noting that it is currency that allows someone to get something. She then went over the four things people can do with money: spend, save, earn and donate.
First, she went over how to earn money, asking the students if any of them do any chores around the house for an allowance. Babysitting friends’ pets, doing the dishes and gifts were among the methods of earning kids came up with.
She then asked how many students had run lemonade stands, smiling when more than half in the room raised their hands.
“Anyone in this room want to be a millionaire?” Clancy asked, much to the excitement of the students.
She spoke about how money can be saved for short-term, long-term and emergency reasons.
Discussing where folks can save money, students mentioned piggy banks and wallets, before eventually landing on banks.
“Banks keep your money safe,” Clancy said.
She said they also help grow people’s money.
Later, she discussed wants vs needs, with her daughter, third-grade teacher Mary Elizabeth Pritchard, reading “Rock, Brock, and the Savings Shock,” a book that promotes the value of saving rather than spending frivolously on fleeting wants.
One character winds up “waist deep in toys” but unable to afford what he needs while another raised $500 to buy nicer things such as a telescope and clothes.
Following the reading, students were selected to come up and spin a gameshow-style wheel with wants and needs on its, being asked to identify each one.
“And here is the thing, just because something is a want doesn’t mean you can’t have it, you can just find a way to spend less,” Clancy said.
The first spin landed on McDonald’s food. Clancy explained how it would be a want right now, but that on a long drive it could become a need.
Another spin landed on the Minecraft video game, which students correctly identified as a want. Other wants included ice cream and a guitar.
One definitive need that students recognized was groceries.
“No doubt on that one,” Clancy said.
At the end, students all got goodie bags with piggy banks and little toys, and then they gave Clancy a round of applause while a small group of students came up to hand her flowers.
“Thank you so much, this is my favorite thing to do,” Clancy said. “I love being able to talk money with you.”
Matt Petry covers Amesbury and Salisbury for The Daily News of Newburyport. Email him at: mpetry@northofboston.com.
Institution for Savings holds 206th annual meeting
NEWBURYPORT — The 206th annual meeting of the IFS 1820 Bancorp — Mutual Holding Company of Institution for Savings — was held on Monday at the Black Swan Country Club in Georgetown, attended by more than 275 corporators and bank employees.
President and CEO Michael J. Jones welcomed attendees and summarized the financials, noting that 2025 was one of the bank’s most successful years as it posted the third highest earnings in its 205-year history. The bank reported strong net income of $49 million, an increase of $10.2 million over prior year, and return on assets of 0.91 percent. Total assets increased by less than 1 percent with total loans increasing $97 million. The increase was primarily in the bank’s commercial loan portfolio, which marked the third consecutive year this division reported over $100 million of loan growth.
The most significant advance in 2025 was in total capital, which increased $61 million or 10 percent, reaching an all-time high of $668 million. Total capital is now over 12 percent of total assets, providing ample opportunity for future growth. Net operating earnings increased significantly, driven by a $10.5 million, or 22 percent, increase in net interest income resulting from new loan growth. The increase in net interest income combined with low operating expenses led to $14.4 million in net operating earnings representing an increase of $7.7 million or 118% over 2024, according to bank officials.
“It was a very successful year for the Institution for Savings,” Jones said. “Our patience and steadfast discipline helped us navigate the challenging interest rate cycle of the past three years and positioned us for strong financial results.”
Jones paid particular mention to the bank’s hallmark charitable giving, noting that the Bank’s financial strength allowed the charitable foundation to contribute over $2.3 million to local non-profit organizations.
“Over the past three years our charitable giving has exceeded $6.5 million, continuing our longstanding tradition to help those in need,” Jones said.
The bank’s leader also praised his board and staff.
“I am incredibly proud of our talented team for their hard work, commitment and dedication to the bank,” Jones said. “Our employees, together with our committed board of trustees, are the bank’s best asset and they are the engine that drives our success. I look forward to many prosperous years ahead.”
Mr. Jones also cited several additional milestones achieved in 2025:
- The Boston Globe’s Top Places to Work for the 18th consecutive year.
- Boston Business Journal’s Best Places to Work for the 10th consecutive year.
- Boston Business Journal’s Top Charitable Contributor for 13 consecutive years.
- Completion of the main office addition.
During the business meeting, the corporation elected Sarah Player as a new trustee. A resident of Ipswich, Player is a vocational disability examiner and physical therapist, and a member of the Ipswich Select Board. She has been a corporator of the bank since 2023.
Seven new corporators were also elected during the meeting: Olivia Achtmeyer Boger, executive director of Runway for Recovery and Newburyport resident; Nancy Batista Caswell, president of the Greater Newburyport Chamber of Commerce, managing director and owner of Caswell Restaurant Group and Newburyport resident; Neil Costa, founder and CEO of Hireclix and Gloucester resident; Allison Fisher, owner of Alewives Tap Room of Boston and Newburyport resident; Graham McKay, executive director of Lowell’s Boat Shop & Museum and Amesbury resident; Andrew McKenzie-DeFranza, executive director of Harborlight Homes and Beverly resident; and Mariana Ruiz Lynch, vice president of sales for CardConnect Port City Payments and Newburyport resident.
During the meeting, Jones recognized retiring trustee Richard Silverman who has served as a trustee for 23 years. Silverman joined the board of Ipswich Cooperative Bank in 2003. When the two banks merged in 2007, he became a trustee. According to Mr. Jones, he played a pivotal role in the bank’s Long-Range Strategic Planning Committee, helping to guide some of the most significant decisions in the bank’s history. Jones expressed his gratitude for Silverman’s lasting contributions and steadfast leadership.
Before concluding the meeting, Jones announced the recipient of this year’s President’s Award, given annually to an employee who consistently goes above and beyond his or her duties to serve the bank and its customers. This year’s award was given to customer service representative Jill Norton. Jones highlighted Norton’s strong customer service skills and commitment to volunteering, noting that she attended more than 30 community events on behalf of the bank in 2025.
IFS Named to BBJ List of Fastest-Growing Real Estate Lenders in Q3
Newburyport, MA – Institution for Savings (IFS) has been named to the Boston Business Journal’s list of the Fastest-Growing Real Estate Lenders in Massachusetts for the third quarter of 2025. IFS ranked #12 out of 94 Massachusetts-based banks on the list.
The list was published on January 29, 2026 with ranking based on real estate lending balances as of the end of Q3 2025.
IFS’s recognition reflects continued growth in residential lending and the work of our experienced lending team, which provides personalized guidance and a range of mortgage solutions to support homebuyers and homeowners across the region.
IFS Residential Lending Team: (L to R) Jeffrey Salerno, Nancy Taylor, Sandy Corrao, Andrea Leal Jessie, Anna Makos, Josh Perkins, Kate Bauer and Dave Bakas.
Newburyport, MA -- Institution for Savings, a $5.5 billion community bank headquartered in Newburyport, has been named one of The Boston Globe’s 2025 Top Places to Work in Massachusetts.
The Bank is one of only two companies to have made the top list for 18 straight years and ranked 19th in the medium category for 2025.
Top Places to Work recognizes the most admired workplaces in the state voted on by the people who know them best—their employees. The survey measures employee opinions about their company’s direction, execution, connection, management, work, pay, benefits, and engagement. The employers are placed into one of four groups: small, with 50 to 99 employees; medium, with 100 to 249 workers; large, with 250 to 999 staff members; and largest, with a workforce of 1,000 or more employees.
“I have long said that it is the employees who make this Bank,” said Institution for Savings president and CEO Michael Jones. “Our employees bring our vision and values to life every day, and their commitment to serving our customers and communities is what makes Institution for Savings such a special place to work."
“The best employers pay attention to the many ways work changes – and the many ways it stays the same – and figure out how to keep people engaged and motivated through it all,” said Katie Johnston, the Globe’s Top Places to Work editor.
The rankings in Top Places to Work are based on confidential survey information collected by Energage, an independent company specializing in employee engagement and retention, from nearly 68,000 employees at 323 Massachusetts organizations. Access the full list here.
LYNN — More than 600 high school juniors got a crash course in managing money when they participated in the second Credit for Life Fair at Lynn Vocational Technical Institute on Friday. The purpose of the event is to help students develop personal budgeting skills that they will use throughout their lives.
For the second consecutive year, Lynn Public Schools partnered with Institution for Savings, a community bank headquartered in Newburyport, to host Credit for Life. Utilizing the bank’s Credit for Life website students created profiles on their mobile devices and chose professions. Then, using the website and their devices, they visited 14 booths and purchased everything they would need to live as 25-year-olds with resources including their monthly paycheck, savings account, and/or a credit card. The booths offered products and services related to housing, transportation, furniture, utilities, food, nutrition, and more.
Mayor Jared C. Nicholson welcomed students to the credit fair, telling them, “Lynn Public Schools and the City care deeply about your future … In addition to academic skills, life skills are also incredibly important. We’re eager to provide financial literacy to all of you.”
More than 80 community volunteers assisted at the event, including City and LPS employees, Chamber of Commerce representatives, accountants, attorneys, nonprofit leaders, business professionals, and bank employees. Lynn Police officers also volunteered at the Safety and Security booth.
“Today is about you and your futures,” said Superintendent of Schools Molly Cohen. “We are here for one reason — to help you. Financial literacy extends far beyond high school. The ability to understand how to earn, save, invest and manage money has a direct correlation to success.”
Cohen said LPS “appreciates the partnership with Institution for Savings and the valuable experience they are giving our students through this event. Providing this type of information and real-life experience fits perfectly with our efforts to educate students beyond the classroom.”
Kristen Tabacco, LPS assistant director of curriculum for history, worked with the bank to coordinate the event.
“We appreciate the incredible team at the Institution for Savings, and the school leaders and guidance counselors for collaborating on this amazing event again,” Tabacco said. “Students get to see what it is like to make all the important financial decisions in life, and they get to talk with real professionals from the community about how to make the best decision for them.”
Creditforlife.org was the result of a 2020 collaboration between seven Massachusetts banks including Institution for Savings. The banks, along with nonprofit FitMoney, pooled financial and informational resources to develop the online site which has been used by tens of thousands of students throughout Massachusetts and beyond. The site has been improved each year and includes translation to Spanish and Portuguese.
“The goal of the fair is to help empower students to be proactive about their financial futures by beginning to develop sound personal finance habits,” said Michael J. Jones, Institution for Savings president and CEO. “Each year we hear from parents, guardians, volunteers and teachers after the event that they wish this had been around when they were in school. We are glad to assist Lynn Public Schools with these important events that are invaluable to students and something they will use throughout their lives.
Budgeting Skills Taught at Credit for Life Fair
Newburyport Daily News 5/23/2025
The daylong exercise was a part of the Institution for Savings’ 15th annual Credit for Life Fair at the O’Keefe Sports Complex at Salem State University.
Participants came from 12 area high schools including Amesbury, Newburyport, Triton Regional, Pentucket Regional, Ipswich, Masconomet Regional, Salem, Swampscott, Beverly, Rockport and Gloucester high schools as well as the Landmark School in Beverly, organizers said.
At the start of the event, students set out to visit a variety of booths staffed by financial planners, state employees, business executives, bank and credit union employees and 125 community volunteers, to make decisions about how much or how little to spend on needs.
“I still have a phone, but I chose to get limited data, and at first I didn’t have internet or TV, but then I got a part-time job as a social media manager and was able to afford both,” said Triton Regional High School junior Lucia Stanely who chose the occupation of cosmetologist.
“[Working two jobs] is definitely something I would now consider in the future, especially because in this case I could work remotely from my apartment.”
In addition to booths covering different aspects of an independent 25-year-old’s expenses and needs, two bonus booths, money smarts, and safety and security, were also included.
Sylvie Tardif, a junior from Swampscott High who chose the occupation of marine biologist, said she learned how difficult budgeting essentials like transportation and housing could be.“I’m definitely going to have to be more financially organized in the future,” she said.
The safety and security booth, staffed by local public safety professionals, focused on important issues to keep young adults safe, such as texting and avoiding substance use while driving, having smoke detectors in living spaces and more.
It also included an opportunity for students to try on “fatal vision goggles” and try to walk in a straight line to simulate the inherent danger of driving under the influence.
“There’s 28 states that have personal finance courses mandated in order for graduation,” Institution for Savings President and CEO Michael Jones said. “And Massachusetts is not one of them, even though we have some of the best education in the country.”
High school juniors were selected for the fair because many are just starting to do things like getting part-time jobs and paying bills, bank Senior Vice President of Marketing and Communications Mary Anne Clancy said.
“They’re at that age where they’re thinking about going into college or the world of work, and we want to make sure they’re ready when they go out into that world.”