St. Anne’s Awards $40,000 to Steppingstone

St. Anne’s Credit Union is proud to announce its facilitation in the distribution of $25,000 in grant funding to support local nonprofit organization, Steppingstone Inc. as part of the Federal Home Loan Bank of Boston’s (FHLBank Boston) 2020 Jobs for New England (JNE) Recovery Grant program. This JNE Recovery Grant program is a relief program designed to help FHLBank members provide financial support to Small Business Administration-defined small businesses and nonprofit organizations that have experienced hardships during COVID-19. In addition to this forgivable grant, St. Anne’s is also donating $15,000 to Steppingstone to aid in the expansion of their new office building at 111 Durfee St. in Fall River, MA. These funds will assist them in providing an array of treatment services to combat mental health disorders and homelessness amidst the COVID-19 pandemic when more community members are in need of their essential services.

“St. Anne’s is always looking for ways to help our local communities prosper,” said Eileen Danahey, St. Anne’s President/CEO. “We are grateful to FHLBank Boston for offering this timely opportunity and helping us alleviate the pressure felt by local businesses while elevating the wellbeing of our community affected by this pandemic. Steppingstone has been providing exceptional services to those in need for nearly 50 years and we are happy to continue our longstanding support of their efforts – especially during the COVID-19 pandemic when the community needs their assistance more than ever. At St. Anne’s, we pride ourselves on being a pillar of the SouthCoast community and we are thankful to be able to extend this assistance to them so they can continue their important work on the front lines of this crisis.”

“The Jobs for New England Recovery Grant Program was introduced this year to help our members provide assistance to local small businesses and nonprofit organizations like Steppingstone that have been negatively affected by COVID-19. We are pleased that St. Anne’s Credit Union was able to access funding for Steppingstone, which offers critical services for homeless men and women,” said Kenneth Willis, senior vice president, director of housing and community investment at FHLBank Boston.

Along with these grants, St. Anne’s has been a supporter of Steppingstone for many years as individuals on their leadership team serve as part of their Board of Directors. Additionally in 2017, St. Anne’s in partnership with other local financial institutions and the FHLBank Boston’s Affordable Housing Program raised $4 million for Steppingstone’s First Step Inn homeless shelter, which allowed them to move to a new building to accommodate additional beds and serve more of the homeless population.

“We have a moral obligation to assist those in need of our help, especially in times like these,” said Peter Panaggio, St. Anne’s Senior Vice President and Chief Financial Officer. “These grants will help preserve and create job opportunities, support local economic development, and further important community services. Steppingstone not only provides a bed to sleep on – they offer the whole package, a solid foundation with access to wraparound services to end the pattern of homelessness: counseling, health checks, sobriety counseling, GED classes and financial literacy classes. People also have access to nutritious meals, showers and laundry facilities. During the pandemic, we feel an even greater urge to step up and we are proud to be able to provide support to our local communities that need a hand up during this time.”


(l-r): Michelle Marcos, St. Anne’s Senior Vice President of Human Resources; Kathleen Schedler-Clark, Steppingstone’s Executive Director
and Eileen M. Danahey, St. Anne’s President/CEO.