In 1870, Androscoggin Bank launched as a high-street bank in Maine to meet the needs of blue-collar workers amid a transformative period for the region. Due to the boom in textile mills, Lewiston’s population had doubled in just 12 years. “Today, Androscoggin Bank stands as a testament to the enduring legacy of its founders,” the company describes. “From its humble origins to its current presence, the Bank remains steadfast in its commitment to serving the diverse needs of our community.” Notably, the company ensures that at least three-quarters of its customers reside within 50 miles of its primary branch in Lewiston.
It is no wonder that Androscoggin Bank is so heavily involved in its own community. Beyond offering financial support and using expertise to help clients achieve their goals, the bank also invests across Androscoggin, Cumberland, and Franklin Counties.
Ultimately, Androscoggin Bank fosters local entrepreneurship. By partnering with the U.S. Small Business Administration (SBA), it has been able to offer credit to customers who might not otherwise be eligible to receive financing. “Many are truly small businesses, and obtaining an SBA loan through the Bank can fuel job growth and have other add- on effects in the local market,” the company described in its impact report. For example, Androscoggin provided financing for Aroma Joe’s Coffee to launch in Turner. Co-owner Wendy Levesque said,
“As life-long members of the Turner community, it is so meaningful to become business owners here through Aroma Joe’s. We can’t wait to see all the happy faces that drive through, and we hope they come to rely on our great service and superior beverages and food.”
Photo Courtesy Androscoggin Bank
The bank has also offered assistance to many residential customers, especially immigrant, refugee, and asylum-seeking families who congregate in Lewiston. The Muslim community, in particular, faces a large barrier to homeownership because of its religion’s opposition to interest payments. CEO Neil Kiely explained, “They miss out on the economic empowerment that comes from building equity in their own home, which can have a generational impact. Additionally, they’re denied the pride of raising a family in their own home.” Therefore, the Bank created a first-of-its-kind alternative solution. Kiely described, “Offering an alternative home financing solution is a small yet impactful contribution to help them establish roots in Maine permanently.” The bank also partnered with Lewiston Adult Education to make a Today’s Teller Academy to prepare adults with a different first language for good, local banking jobs.
Additionally, the company’s Sustainable Impact Program allows customers to link their bank deposits to bank loans aligned with the United Nations’ Sustainable Development Goals, thereby letting “your deposits make an impact while earning an attractive return.” Through the program, Androscoggin Bank has financed a solar array for Front Street Shipyard in Belfast that saves the organization 40% on monthly energy costs, as well as a $1.2 million facility in Oxford for Mission Working Dogs to train service dogs to help people living with physical disabilities.
The bank is one of only sixteen in the U.S. to receive B Corp certification, as B Lab explained, it “is part of a small number of banks nationally who share in their commitment to leverage business as a force of good in their world.” Androscoggin Bank elaborated, “Financial success enables us to reinvest those earnings back into our clients, our colleagues, and our communities so that we all thrive together.” As Androscoggin Bank described, being a B Corp “is about being part of a tangible movement, using profit to power our purpose and creating a sustainable, more equitable planet. By putting our clients, employees, communities, and environment at the heart of every decision, we are doing just that.”
Photo Courtesy Androscoggin Bank
Meanwhile, Androscoggin’s own MainStreet Foundation aims to provide food, shelter, and security for local community members. Since its first grants in 1998, the foundation has sent more than $2.1 million to nonprofits focused on at-risk youth, with contributions, sponsorships, and grants reaching over $400,000 in 2024. Once per year, it offers a $25,000 For Kids grant, while quarterly grants can be up to $5,000. In 2023, the For Kids grant recipient was the Locker Project, which obtains fresh food from local farms and the Good Shepherd Food Bank and rescues unsold food from supermarkets to provide to children facing food insecurity in the Greater Portland area. Executive Director Kathryn Sargent explained, “This funding will support our take-home food program, which reach more than 2,500 children each year across Greater Portland.”
Photo Courtesy Androscoggin Bank
“Recognizing our responsibility to shape a sustainable future for generations of Mainers, we embarked on a mission in 2020 to reduce our environmental footprint,” Androscoggin Bank elaborated.
Between 2021 and 2024, the bank reduced its fossil fuel usage in operations by 63.8%. By 2024, all bank branches and operations centers were 100% powered by clean energy, and the company worked with ReVision Energy to buy solar power from a solar farm in Sidney. All branches use LED lighting. This work saves about 106,000 kilowatt-hours of energy per year, resulting in expected annual cost savings of $22,446. Plus, Efficiency Maine covered 71% of the cost of adopting LED lights through a program designed to help businesses become more energy-efficient. Altogether, Androscoggin expected these changes to reduce annual carbon emissions by 1.03 million pounds.
Androscoggin Bank has been serving Maine communities since 1870 and continues to do so through its many initiatives that give back to the communities it holds so dear.
