Bangor Savings to give Husson $500K for business school building

Presentation of $500,000 gift check to Husson University

Courtesy / Husson University Bob Montgomery-Rice, left, president and CEO of Bangor Savings Bank, presents a ceremonial $500,000 check to Robert A. Clark, president of Husson University. The gift will help fund construction of a new College of Business building on Husson's Bangor campus.

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By Staff

Bangor Savings Bank on Tuesday announced it will give $500,000 to Husson University to help fund construction of a new College of Business building. The bank will disburse the money over a 5-year period.

In a news release, the bank said the donation builds on a successful collaboration that has seen 24 Bangor Savings employees earning a master's degree from Husson, which has its main campus in the Queen City.

"Husson University has had a positive impact on the Bangor Savings Bank workforce, and they have an impressive track record of providing a quality business education,” said bank President and CEO Bob Montgomery-Rice. “We are happy to support the College of Business building project, and look forward to seeing more bank employees become Husson graduates."

Robert A. Clark, Husson's president, said the gift "will help the university provide our local business community with the educated workforce and business resources they need to grow our local economy.”

About one in 10 Bangor Savings employees have a Husson degree or have attended classes at the school.

In 2018, Husson’s College of Business worked with Bangor Savings to customize a MBA program for bank employees. Bangor Savings paid for the program, and Husson faculty taught classes at bank locations.

In the release, Husson also said it plans to help Bangor Savings employees maximize opportunities for credit transfer or work experience and to tailor the best program for each employee, while the bank is increasing the number of college courses it reimburses each year for program participants.

“With certificates, undergraduate degrees and graduate degrees in business, both online and in the classroom, Husson is dedicated to helping today’s employees and leaders achieve career success,” said Marie Hansen, dean of Husson's College of Business.

She added that both institutions are committed to supporting education and the community and that "we appreciate and value their partnership."

About Bangor Savings Bank

Bangor Savings Bank, founded in 1852, has a total of 58 branches in Maine and New Hampshire. On June 17, the bank said that it finished the fiscal year that ended March 31 with $4.44 billion in assets, 219,000 customers, and nearly 950 employees across northern New England. The bank also reported net income of close to $33.2 million, a 38% jump over a year earlier.

About Husson University

Husson University offers courses at its main Bangor campus, three off-campus satellite education centers and online. A recent analysis by U.S. News & World Report found Husson to be the most affordable private college in New England.