St. Anne’s Credit Union lends nearly $500,000 to Steppingstone, Inc

St. Anne’s Credit Union, a single source for financial services, financing options and resources for individuals and businesses, announced today that they are financing nearly $500,000 to support the expansion of Steppingstone, Inc.’s operational and development efforts by providing customized financing options for the nonprofit organization to secure the purchase and renovation of their new office building at 111 Durfee St. in Fall River, MA. This effort will assist them in increasing their support of the clients in need of their services as they work to provide an array of treatment services to combat mental health disorders and homelessness.

Carlos DaCunha, St. Anne’s Senior Vice President and Chief Lending Officer, said “St. Anne’s is committed to investing in the communities that surround us and our team is proud to provide financing to a local nonprofit that is working to enhance quality living experiences for community members. This transaction is another example of our ability to secure extremely favorable financing – because of the power of our local lending team and commitment to quality – on behalf of clients that are looking to add value to their organizations. As a top leading financial institution, we are proud of the long-term relationship we have with Steppingstone and look forward to supporting its continued growth and positive impact as this relationship exemplifies our continued commitment to community development.”

“Steppingstone does a commendable job in Fall River and New Bedford to offer a variety of services and programs that help individuals and families build a strong foundation for recovery. They have been serving the community since 1972 and this expansion will contribute to their growth for years to come. As Treasurer of the Board of Directors of Steppingstone for 10 years and employed by St. Anne’s for over 25 years, I am proud to be associated with both organizations as they seek to strengthen the areas that we all live and work in”, said Michelle Marcos, St. Anne’s Senior Vice President of Human Resources.

Kathleen Schedler-Clark, Steppingstone’s Executive Director stated, “St. Anne’s has been a wonderful community partner of ours for many years. In 2014, when we moved the First Step Inn to a larger building, St. Anne’s stepped up to the plate with a $30,000 grant to allow us to accommodate additional beds and serve more of the homeless population. With this financing, the St. Anne’s team made the transaction seamless, quick – and offered an unbeatable rate. This space is the pivotal piece to allow us to build an accessible, safe, and welcoming office building to serve even more people in need. The lending from St. Anne’s allows us to focus on what matters: offering our clients only the best. Like St. Anne’s, we are committed to community, that’s why we choose to bank with them. They make us feel comfortable and their friendly demeanor is always consistent. We are forever grateful to them for their ongoing pledge to support our nonprofit and clients in our times of need.”