BankFive, a community bank with locations in Massachusetts and Rhode Island, today announced it is partnering with clean energy investment firm Sunwealth to develop a rooftop solar project at Project Independence in New Bedford. Established in 1982, Project Independence is a nonprofit organization that provides personalized nursing care for seniors and adults with disabilities, helping to bridge the gap between total independence and long term care.
“BankFive is committed to being responsible stewards of the environment, both in our physical locations and in the products we offer to our customers,” said BankFive President & CEO Anne P. Tangen. “We have installed solar panels on numerous branches, participate in the Mass Save program, which provides zero-interest HEAT loans for energy efficiency upgrades to our customers’ homes and businesses, and we offer commercial solar loans throughout our footprint to improve energy efficiency.”
The 125 kilowatt stand alone rooftop solar project will be constructed at Project Independence, a nonprofit that provides skilled nursing care for seniors and adults with disabilities. It is anticipated that this will save Project Independence $20,000 in electricity costs over the life of the project.
“Partnerships like these result in both environmental and economic benefits for the community and the bank,” said Jennifer St. Pierre, BankFive’s Chief Financial Officer. “Whether we’re participating in the financing of green energy projects, investing in sustainable development at our branches, or implementing strategies to reduce the bank’s energy use, it’s smart business and beneficial to our customers and our communities.”
BankFive has solar panels installed at its Dartmouth, Fairhaven and County Street locations with plans to add additional panels at its renovated headquarters in Fall River and branches throughout its footprint.
BankFive has over 168 years of service in the SouthCoast and supports the community through donations, sponsorships and volunteers. For additional information please visit: https://www.bankfive.com.