At the urging of the Vermont Bankers Association and local bankers, the American Bankers Association today announced that it will donate $25,000 to the Vermont Main Street Flood Recovery Fund, which is providing grants to small businesses directly affected by recent flooding in the state.
The remnants of Hurricane Beryl dumped more than six inches of rain in Vermont around July 11, prompting more than 100 swift-water rescues. Three weeks later, record rain from another storm devastated Vermont’s Northeast Kingdom, battering some of the same communities a second time. It was the second straight summer of devastating flooding in the state.
ABA’s donation follows similar contributions from Vermont banks in support of recovery efforts.
“Banks of all sizes have stepped up to support recovery efforts in Vermont after these latest storms, and ABA is proud to stand with them and do our part,” ABA President and CEO Rob Nichols said. “We hope that these funds can help soften the blow for those affected by the flooding and contribute in some way to the rebuilding effort.”
President Biden this week declared seven Vermont counties affected by the July 11 storm federal disaster areas. The state has submitted a separate disaster declaration request for the second storm that is still pending.
“We deeply appreciate ABA donating to recovery efforts in Vermont for the second straight summer,” Passumpsic President and CEO Jim Kisch said. “Some parts of our state have been hit multiple times by Mother Nature over the past year, and it’s gratifying to see our industry respond to this unprecedented flooding.”
Capstone Community Action is the fiscal sponsor of the Vermont Main Street Flood Recovery Fund and 100% of donations go to eligible small businesses.
