First Federal Savings Bank of Washington Establishes Community Good Fund

Washington, Indiana. January 16, 2015.  The Daviess County Community Foundation today accepted a $10,000 donation from First Federal Savings Bank of Washington to establish a new community good or unrestricted endowment fund.

“The beauty and strength of the new First Federal Savings Bank of Washington endowment fund is the flexibility that the fund will provide in addressing a broad range of local needs, including future needs that often cannot be anticipated,” says Mary E. Smith, Foundation Director.

According to Tom Richardson, First Federal Bank President, the bank wanted to meet the ever-changing needs of Daviess County and found the answer at the Community Foundation. “We know Daviess County is developing quickly, with many changes throughout the community,” says Richardson. “We cannot accurately predict those changes but by working through the Foundation, we can be assured that we are helping to address the needs of this community, both today, and for many years to come.”

The First Federal Fund will provide support for the Foundation’s annual discretionary grant program which last year awarded $150,000 to 23 charitable organizations for 24 different projects. The grants were based on the Foundation’s funding priorities of arts and culture, community development, education, health, human services, and other civic endeavors, such as the environment, recreation, and youth development.