Glen Rock Savings Bank recently distributed its third and final round of financial relief per the Federal Home Loan Bank of New York’s (FHLBNY) COVID-19 Small Business Recovery Grant program. GRSB’s latest allotment totaled $30,000 and was presented to two area non-profits and one local business. In total, Glen Rock Savings Bank has distributed $100,000 through the program.
The FHLBNY’s COVID-19 Small Business Recovery Grant program set aside approximately $2 million to benefit the employees of its Tri-State Area members’ small business and non-profit customers. Its intention is to support the financial security and health of workers employed by organizations that have suffered a decrease in revenue as a result of the ongoing COVID-19 crisis. Eligible recipients received grants of up to $10,000 each.
“Throughout the pandemic, Glen Rock Savings Bank has been privileged to play a role in helping organizations financially impacted by a situation beyond their control,” said President and CEO Ferdinand R. (Fred) Viaud. “We continue to be a proud member of the Federal Home Loan Bank of New York and look forward to less difficult times ahead as the crisis winds down and widescale reopening commences.”
The two non-profits who received grant monies are The West Orange Community House in West Orange, and Good Shepherd Mission in Paterson. The local business recipient is Willow & Olivia Café, a café and bakery located in West Orange.