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MVSB (Meredith Village Savings Bank) is proud to support the New Hampshire Community Loan Fund with the purchase of $10,000 in tax credits from the New Hampshire Community Development Finance Authority. The Community Loan Fund will use these funds to aid low- to moderate-income families in purchasing new and affordable energy efficient manufactured homes.
“The Community Loan Fund has a great track record of finding innovative ways to meet real needs in our state,” said Marcus Weeks, MVSB President. “Their work to expand access to quality manufactured housing is a smart, forward-looking solution, and we’re glad to play a small part in helping more families put down roots and build stability.”
The Community Loan Fund provides support for manufactured-home purchases and improvements, resident-owned communities, small business and nonprofit growth, affordable housing development, energy efficiency projects, and local municipalities managing grants.
“Safe, stable and affordable housing is the foundation for strong families and thriving communities,” said Katie McQuaid, Community Loan Fund SVP of Philanthropy & Community Engagement. “By helping families purchase modern, energy-efficient manufactured homes, we’re not only improving quality of life today, but also creating long-term financial security and sustainability. Support from partners like MVSB makes it possible for us to turn these opportunities into reality for more New Hampshire families.”
CDFA tax credits allow businesses to fund qualifying economic or community development projects in exchange for a tax credit that can be applied against state business tax payments. The tax credits are administered by the New Hampshire CDFA. Any business with operations in New Hampshire that contributes to a CDFA tax credit project receives a New Hampshire state tax credit worth 75 percent of their contribution. The credit can be used over a period of five years to reduce the business’ state tax liability (business profits, business enterprise, or insurance premium taxes). The tax credit program allows New Hampshire businesses to use their state tax dollars to support local projects that they care about. CDFA reviews many project applications each year, and awards tax credits to those they determine are feasible and will make the biggest impact on economic development in the state. Visit nhcdfa.org for more information.
MVSB has been serving the essential banking needs of people, businesses, nonprofits and municipalities for over 150 years. As a mutual savings bank, MVSB has no stockholders but rather operates for the benefit of its customers, employees and community. Since our founding, one thing has always remained true: caring is at the heart of everything we do. By building and nurturing relationships, we believe that we can cultivate a community where we all thrive. It all starts with caring about our customers and neighbors. To learn more, visit any of the local branch offices located in New Hampshire in Alton, Ashland, Center Harbor, Exeter, Gilford, Laconia, Melvin Village, Meredith, Moultonborough, North Conway, Plymouth, Portsmouth, Rochester or Wolfeboro, call 800.922.6872 or visit mvsb.com.
(Photo: From left, Katie McQuaid, NH Community Loan Fund SVP of Philanthropy & Community Engagement, stands at the MVSB Main Office with Tina Simpson, MVSB VP Commercial Loan Officer, Stacy Trites, MVSB SVP Senior Retail Banking Officer, and Charlie Dowd, MVSB VP Residential Mortgage Sales NMLS# 737415. Courtesy photo)