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.”
Newburyport Daily News, 4/30/2025
On Saturday, May 10, the Jean Kirkpatrick classroom will be dedicated during a public ceremony at the school beginning at 10 a.m. All are welcome to attend.
The classroom’s dedication was made possible thanks to a $5,000 donation to the Newburyport Education Foundation from the Institution for Savings. The bank also donated an additional $5,000 in Kirkpatrick’s name to NEF’s book vending machine program.
“I think you would be hard-pressed to find anyone who had her as a teacher who doesn’t consider her their favorite,” Institution for Savings Senior Vice President Mary Anne Clancy said. “She had just such an impact.”
Kirkpatrick, 92, spent 40 years teaching second grade at Belleville Elementary School (now Bresnahan Elementary) before retiring in 1994. At the time, she had dedicated more years of service to city schools than any other teacher in the district.
Over the years, many people have called Kirkpatrick their all-time favorite teacher, a designation Clancy endorsed. “She was just one of those teachers who you remember all throughout your life,” she said.
Whether it was Thanksgiving pageants when students would dress up as Pilgrims or the many books they were encouraged to read, Kirkpatrick made learning engaging as well as fun, Clancy said.
“Even with 25 or 30 students in her classes back then, she knew and engaged with every single one of us, making us each feel exceptional,” Clancy said. “That is truly a gift, and she still has it to this day.”
Mayor Sean Reardon, who had Kirkpatrick as a second-grade teacher, said she brought warmth and positivity to the classroom. “(She was) always bringing out the best in every one of her students,” he said. “I truly wouldn’t be where I am today without the support and inspiration of incredible teachers like her.”
Kirkpatrick, Reardon added, remained a constant presence in the community, long after retiring from teaching.
“I always loved seeing her at Anna Jaques Hospital volunteering at the information desk with her trademark kindness,” he said. “And to this day, she still checks in on me from time to time since I became mayor. She’s a Newburyport treasure.”
A lifelong resident of Newburyport, Kirkpatrick also has a longtime association with the Institution for Savings.
Her father, William Carter, served as the bank’s secretary from 1950 until his retirement in 1974. Her daughter Susan was employed as a teller in the 1980s. Her son Scott has worked for more than a decade as one of the bank’s facilities managers.
Bank President and CEO Michael J. Jones called Kirkpatrick “legendary.”
“We have had many employees who benefited by having her as their teacher and their stories of her annual Thanksgiving plays, her poetry club, and her enthusiastic and contagious reading lessons in Room 4, the same classroom she taught in throughout her career, are memories that have and never will be forgotten,” he said. “It is only fitting that a room will be named in her honor and we are happy to help make that happen.”
The Institution for Savings, through its charitable foundation, awarded and pledged more than $1,365,000 in the first quarter of 2025, according to President and Chief Executive Officer Michael J. Jones.
The largest grants included a $250,000 pledge to the City of Newburyport for the Recreation and Youth Services new headquarters on Low Street and a $250,000 pledge to Change is Simple Inc., a nonprofit dedicated to instilling social and environmental responsibility through hands-on climate change education.
The funds will be used to support hands-on climate and sustainability educational programming for elementary and middle school students in North Shore communities.
The bank also pledged $150,000 to The Salem Pantry to assist them in establishing a regional food storage and distribution hub that will support its mission of providing convenient and reliable access to food. Other significant awards included $25,000 grant to the Newburyport Education Foundation and $25,000 to The Firehouse Center for the Arts. Additionally, the foundation awarded $10,000 grants to Pathways for Children, My Brothers Table of Lynn, Habitat for Humanity, Gloucester Education Foundation, Rockport Public School/Education Foundation and Amesbury Educational Foundation Inc.
“This continues to be a challenging time for so many of our non-profits who provide essential services to those in need,” Jones said. “We received more than 160 applications this quarter alone. Our charitable foundation allows us to share our financial success with the communities that have helped us achieve that success and while we wish we could grant every request we are happy to be able to support many in this way.”
Other non-profit organizations who received first quarter grants from the bank are as follows: Pawsitively 4 Pink, 4414 Fund/The Jeff Stone Foundation, Alliance of Climate and Environmental Stewards, Alzheimer’s Disease and Related Disorders, Amesbury Girls Youth Softball League, Amesbury High School, Amesbury Jets Youth Football and Cheerleading, Anna Jaques Hospital Aid Association, Arpeggione Ensemble, Inc., Ascension Memorial Church, Assumption of the Virgin Mary Greek Orthodox Church of Ipswich, Backyard Growers, Inc. , Beverly High School, Beverly Rotary Club Foundation, Inc., Boxford Athletic Association, Boys and Girls Club of the Lower Merrimack Valley, Inc., Bridgewell Incorporated, Cape Ann Trail Stewards, Inc., Colleen E. Ritzer Memorial Fund, Collins Middle School, Dirty Hands Project, Educational Foundation for Rockport, Essex County Trail Association, Essex National Heritage Commission, Express Yourself, First Parish Church of Newbury, Friends of Buker Elementary School, Friends of Rockport Athletics, Inc., Friends of the Ipswich Elderly, Generous Gardeners, Gloucester High School, Gloucester Tourism Alliance, Hamilton Wenham High School and Regional School District Education Fund, Harborlight Community Partners, Housing Support, Inc., Ipswich High School, Jeanne Geiger Crisis Center, Kinship Farm Corporation, Ipswich Little League, Masconomet Girls Lacrosse, Masconomet Girls Soccer Association and Merrohawke Nature School.
Also: Montserrat College of Art, Newburyport High School, Newburyport Chamber Music Festival, Newburyport Choral Society, Newburyport Education Foundation, Newburyport Maritime Society, Newburyport Pride Coalition, North of Boston Cancer Resource, North Shore Alliance of Gay & Lesbian Youth, North Shore Community College Foundation, Northeast Arc, Opportunity Works, Pentucket Regional High School, Rowley and Salisbury Elementary School PTAs, Resolution Center, Inc., Road Runners Club of America, Rockport Exchange Corporation, Rockport Garden Club, Rockport High School, Rotary International, Rupert A. Nock Middle School Parent Teacher Organization, Salem State University Alumni Association and Foundation, Salem High School, Salisbury Youth Baseball and Softball League, Sawyer Library Foundation, Sgt. Jordan M. Shay Memorial Foundation, Spur Inc., St. Peter’s Fiesta, Swampscott Tides, The Community House, The Gloucester Adventure, Three Sisters Garden Project, Tinkerhaus Community Maker Space, Topsfield Community Partnership, Town of Rockport, Town of Salisbury Parks & Recreation, Trav’s Trail Run, Trayser Museum Directors, Triton Boosters Club, Triton Regional High School, Triton Youth Basketball, Tri-town Council on Youth and Family Services, Women’s Money Matters and Young Women’s Christian Association of Newburyport.
ONT hits $6 million goal with help from local bank
SALISBURY — Weeks after Our Neighbors’ Table officials announced they had come up $200,000 short in its efforts to raise $6 million to operate its new Bridge Road food hub debt free, the Institution for Savings made up the difference last week.
“I read the article in the paper and I saw that they were $200,000 away from their $6 million 2024 goal, and I figured we would step up and make sure they made their goal,” Institution for Savings President Mike Jones said.
Jones and other Institution for Savings officials joined Haight for a tour of the hub Tuesday after donating $200,000 last week, with Jones calling the facility “so impressive.”
“I just really appreciate Lyndsey’s vision and I think that it took some time, but here we are today, and I think we’re doing exactly what we wanted to do,” Jones said, referring to Our Neighbors’ Table Executive Director Lynsdey Haight.
Our Neighbors’ Table opened the 24,000-square-foot food market and storage facility roughly four months ago. It includes 7,000-square-feet of dry storage, as well as 3,000-square-feet of cold storage. The nonprofit is in the midst of a $7.8 million capital campaign for the Salisbury food hub so it can operate the hub debt free.
The hub will serve the 25 food access organizations partnered in the Lower Merrimack Valley Food Coalition.
While the hub is still a work in progress, over a million pounds of food have passed through the building so far, with most of it coming from the Greater Boston Food Bank.
Haight said that hitting the $6 million milestone is huge for her organization after they had initially failed to hit the mark by Jan. 1.
“Six million dollars was a key benchmark for us. It was the minimum we needed just to be able to carry the costs of this expansion and serving the needs of the coalition,” Haight said.
She stressed not fundraising efforts are still far from done.
“We still have $1.8 million to get to the $7.8 million. We get to the $7.8 million and we are in great shape so that all of our future contributions go directly to serving the coalition and the 32,000 people that the coalition is serving,” Haight said.
Board of Directors member and chairman of the capital campaign Jim Krause thanked the bank and shared his belief that this donation could inspire others as the campaign nears its conclusion.
“There’s a bandwagon effect,” Krause said.
Haight said she was grateful for the over 300 donors who have contributed to the campaign so far.
“It’s one of the largest campaigns executed in this area for quite some time, and so it really speaks to everyone with varying capacities in their commitment to universal food access,” Haight said.
Folks looking to contribute to the campaign can do so at: fillemup.org
Matt Petry covers Amesbury and Salisbury for The Daily News of Newburyport. Email him at: mpetry@northofboston.com.
IFS Donates Over $100K to Local Food and Toy Drives
NEWBURYPORT — With the holiday season being a time of need and struggle for many, the Institution for Savings recently donated more than $100,000 to local food pantries and toy collections, according to bank president and CEO Michael Jones.
Institution for Savings, a $5 billion community bank headquartered in Newburyport, has been named one of the 2024 Top Places to Work in Massachusetts in the 17th annual employee-based survey from The Boston Globe. The Top Places to Work issue publishes online at globe.com/topplaces online and in Globe Magazine on Sunday, December 8th.
The Bank is one of only two companies to have made the top list every year that the list has been published.
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.
The Institution for Savings was ranked number 17 in the Medium category, up from number 23 in 2023.
“What makes this honor so gratifying is that it is based on the confidential feedback from our very own employees,” said Institution for Savings president and CEO Michael J. Jones. “To be one of only two Massachusetts companies to have consistently made the list for 17 straight years -- at a time when workplaces are adjusting to meet the needs of a changing workforce -- makes this even more special. Our employees are our greatest asset, and I am truly grateful to lead such a dedicated team.”
The Globe Magazine also includes a segment highlighting special recognitions some of the top companies bestow on their employees and features the Bank’s longstanding President’s Award, give annually to an employee that goes above and beyond.
“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.
NEWBURYPORT — Institution for Savings President and CEO Michael J. Jones was recently appointed by Gov. Maura Healey to the Massachusetts Housing Partnership (MHP) Board.
MHP is a public nonprofit affordable housing organization that works in concert with the governor and the Executive Office of Housing and Livable Communities (EOHLC) to increase the supply of affordable housing in Massachusetts. It does this by financing affordable rental housing, providing mortgage financing for first-time home buyers, providing technical assistance for housing and neighborhood development and works to establish statewide housing policy. The partnership is governed by a seven-member board of directors appointed by the governor.
“Mike Jones is a fabulous addition to our board,” said MHP Executive Director Clark Ziegler. “He brings a wealth of experience and has led his bank to be an industry leader on housing and community investment. He’s also a champion of affordable housing in his own hometown of Ipswich.”
Jones said he was “truly honored” to have been chosen by Healey and added he was looking forward to working with Ziegler and his team.
“Massachusetts has faced a housing shortage for decades, with the demand for affordable housing significantly outpacing production and availability. I look forward to lending my time and experience as a longtime affordable housing advocate to this board as we work to make housing more affordable in Massachusetts,” Jones said.
Earlier this year, Healey signed into law the Affordable Homes Act into law, historic legislation that authorizes $5.16 billion in spending over the next five years along with policy initiatives to address rising housing costs in the state caused by high demand and limited supply.
“Mike’s lengthy experience in banking will help support MHP’s goal of creating a future with an adequate housing supply and reasonable housing costs,” said Massachusetts Housing Secretary Edward M. Augustus.
Bank Donated and Pledged More than $750,000 in Q3 2024
The Institution for Savings, through its Charitable Foundation, awarded and pledged over $750,000 in the third quarter of 2024, announced President and Chief Executive Officer Michael J. Jones recently.
“Our vision is to positively affect the lives of every person, business and organization in the communities we serve,” said Mr. Jones. “The Bank’s Charitable Foundation allows us to share our financial success with the communities that have helped us achieve that success. These are still challenging times for so many of our non-profits and we are thrilled to be able to support them in this way.”
Other non-profit organizations who received third quarter grants from the Bank are as follows: Action Inc.; Anna Jaques Hospital; Best Buddies Massachusetts; Byfield-Newbury Baseball Softball; Cabot Performing Arts Center; Cape Ann Business Incubator; Cape Ann Symphony Orchestra; Central Congregational Church - Chocolate Tour; Community Action Inc. Community Service of Newburyport; Community Through Music Youth Chorus; Cycling Without Age MA; Distributive Education Clubs Of America (DECA); Essex County Trail Association; FRAXA Research Foundation; Friends Of North Shore Childrens Museum; General Charitable Society of Newburyport; Girls Incorporated of Lynn; Gloucester Fund; Haven Project Inc.; Horizon Club; Horses Healing Hearts; Immaculate Conception School; Ipswich Cultural Council; Ipswich High School Football Boosters; Ipswich High School Hall of Fame; John Ashford Link House; Joppa Flats Running Club; Kestrel Educational Adventures; Neurofibromatosis Incorporated Northeast; Newbury Elementary School; Newburyport Art Association; Newburyport Choral Society; and Newburyport Youth Football.
Also: North Of Boston Cancer Resource; North Shore Community Action Programs; Northeast Massachusetts Youth Orchestras; Pan-Massachusetts Challenge; Pathways For Children; PTA Massachusetts Parent-Teacher Association; Resolution Center Inc.; Road Runners Club of America; Rockport New Years Eve; Rotary International; Ruth’s House; Sean Perkins Foundation; SeniorCare; Society for the Development of Arts And Humanities of Greater Newburyport; Storm Surge Inc.; Sweet Paws Rescue; The Impossible Dream Inc.; The Rotary Foundation of Rotary International; The Salem Pantry; Third Sector New England; Town of Salisbury - Parks & Recreation; Triton Amesbury Junior Maples Youth Hockey League; Triton Boosters Club, Inc.; Tri-Town Council On Youth and Family Services Inc.; United Church Of Christ, dba Belleville Roots Music Series; Victoria’s Victory Foundation; Wenham Historical Association & Museum; West Newbury PTO; Whittier Tech Educational Foundation; and Young Men’s Christian Association of Metro North.
SALEM — “What type of car can I afford on an actuary’s salary?” “What’s an HMO?” “I had no idea my parents paid that much for cable TV!”
Those were just a few of the comments from high school students navigating their future at the 14th annual Credit for Life Fair held May 23 at Salem State University.
More than 1,100 North Shore high school juniors from 14 schools attended the event, underwritten and organized by the Institution for Savings. They were joined by 150 community volunteers, including 50 IFS employees, Newburyport Mayor Sean Reardon, Amesbury Mayor Kassandra Gove, the division of bank examiners, financial planners, real estate agents and nonprofit leaders.
The Institution for Savings event is the largest of its kind in New England. High schools attending the event included Amesbury, Newburyport, Triton Regional, Pentucket Regional, Ipswich, Georgetown, Masconomet Regional, Hamilton-Wenham Regional, Salem, Swampscott, Beverly, Rockport and Gloucester, as well as Landmark School in Beverly.
Using the bank’s Credit for Life website (creditforlife.org), students created profiles on their mobile devices, then chose professions. Then using their assigned monthly “salaries,” along with a credit card and savings account, they visited 12 booths set up in Rockett Arena and purchased everything they would need to live as 25-year-olds. The booths featured housing, transportation, food and nutrition, education and training, health and wellness, and planning for the future.
The event’s goal, according to Institution for Savings President and CEO Michael Jones, was to help local high school students develop personal budgeting skills that they will use throughout their lives.
“The greatest part of the morning was listening in to the students talk about their choices and decision-making,” said Jones, whose twin sons attended the event from Ipswich High School. “Seeing them trying to decide if they can afford to live on their own or need a roommate, or choosing a used Jeep over a lease is so gratifying to me because that is exactly what this event is geared to do: Get them to start learning how to manage their money before they leave high school.”
Local community volunteers included Gove and Reardon, North Shore Chamber CEO Karen Andreas, Salem Pantry Executive Director Robyn Burns and Greater Newburyport Chamber of Commerce President Nate Allard.
“The Credit for Life Fair is an amazing event to witness in person,” Reardon said. “Financial literacy is such an important skill that currently is not required for graduation in Massachusetts schools. Institution for Savings deserves a lot of credit for bringing hundreds of juniors from 14 different high schools to come and participate in this immersive real-world financial simulation.”
A group of financial planners from EP Wealth Advisor and The Sentinel Group were also on hand to advise the students, as were staffers from Salem State University. Kristin MacDonald from the office of state Sen. Bruce Tarr also volunteered as did Phil DeCologero and Madison Gonzalez from the office of State Auditor Diana DiZoglio.
DeCologero, who has volunteered at the fair several times, said he is “always amazed” at the planning by organizers, the enthusiasm of volunteers, and the seriousness of students.
“I wish I had access to this type of programming when I was in high school, and it’s clear the students who do get to participate understand the benefit of the resources they’re being exposed to. Thank you to Institution for Savings for devoting so much to helping so many,” DeCologero said.
Gove said the fair offers “incredible hands-on learning experience” for Amesbury students.
“In the absence of required standardized financial literacy in our school, they’re filling the gap. Our students beg us for real life education and opportunities for ‘adulting’ and this program checks all the boxes. Every student should experience Credit for Life,” Gove said after the event.
A highlight of the morning was the Safety & Security Booth, staffed by police officers from eight North Shore communities.
Swampscott police Officer Brian Wilson brought Sora, the department’s comfort dog, along as well. Officers talked with the students about important issues that keep young adults safe, such as texting and avoiding substance use while driving, and having smoke detectors in living space. Students also took turns trying out impairment goggles that simulate levels of alcohol impairment to make them aware of how alcohol can adversely affect their vision and functions.
“The students learn so much, and have fun doing it,” Andreas said. “They talk about credit card debt, saving for emergencies, whether they should adopt a dog and afford the vet bills. It’s an outstanding learning experience.”
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President and CEO Michael Jones, along with Executive Vice President and COO Kimberly Rock, donned hard hats and harnesses and went up in a bucket truck to inspect and cheer on the installation after it was raised by members of the construction team overseen by the bank’s general contractor, Groom Construction.