New London Housing Initiative Receives $12,500

A New London housing organization has received two donations totaling $12,500 from the Citizens Bank Foundation and Dime Bank Foundation.

Eastern Connecticut Housing Opportunities, a nonprofit organization providing assistance in building and renovating affordable housing, received the funding for its down payment program. Started in 2006, this program provides assistance to low-income first time homeowners in New London County in making the closing payment on their new home. The loans are interest free and forgivable.

Citizens Bank Foundation donated $10,000 to the program while the Dime Bank Foundation donated $2,500.

The Citizens Bank Foundation is a subsidiary of Citizens Charitable Foundation, itself part of RBS Citizens Financial Group, Inc., RBS Citizens, N.A., and Citizens Bank of Pennsylvania. Its donations focus on affordable housing, economic development, and human services. The Dime Bank Foundation provides funding for "charitable, cultural, literary, scientific, and educational nonprofit organizations."

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