Bay State banks give more than $61 million annually to Massachusetts charities, according to a survey released Wednesday by the Massachusetts Bankers Association (MBA).

There are 167 banks doing business in Massachusetts that are members of the MBA. The anonymous survey asked them to report the amount of money they contributed in their most recent calendar or fiscal year to Massachusetts charities. The survey did not include marketing dollars, sponsorships and promotional funds.

During the last such survey, more than five years ago, members reported aggregate charitable contributions at $40 million annually.

"We’ve been using that $40 million number for a while now, and we wanted a more updated number," MBA President Dan Forte told Banker & Tradesman. "But it doesn’t include the countless hours driving nails for Habitat for Humanity, serving food at soup kitchens, and serving on town finance committees. It’s always been engrained in their DNA."

The Massachusetts Bankers Association represents approximately 180 commercial, savings and co-operative banks and savings and loan institutions located in Massachusetts and elsewhere in New England.

MBA Survey: Banks Give $61M To State Charities

by Banker & Tradesman time to read: 1 min
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