Member News – Atlantic Stewardship Bank
June 17th, 2016
Atlantic Stewardship Bank has announced that it distributed over $325,000 in charitable contributions to more than 230 recipients, through the Bank’s unique tithing program for 2015. Its Tithing Program provides for the bank to share 10% of its pre-tax earnings annually with Christian and local nonprofit organizations. All tithe recipients are selected by the Bank’s Board of Directors and the contributions are distributed.
In accordance with its Tithing Program, each year Atlantic Stewardship Bank makes numerous donations; sending or hand delivering checks to Christian missions, schools and healthcare facilities as well as local nonprofit organizations such as food pantries, libraries, police and fire departments and other deserving recipients local to the Bank’s 12 branch offices. To date, the Bank’s total tithe donations exceed $8.8 million.
“Tithing is a Biblical principle, meaning to give or devote one-tenth to God,” said Atlantic Stewardship Bank President and Chief Executive Officer Paul Van Ostenbridge. “The thought of a bank giving away ten percent of its profits each year is highly unusual, especially in today’s economy. We continue to do so because the founders of the Bank were so deeply committed to this concept, that the tithing program defines our mission and is part of our corporate by-laws. We are proud to be able to share a portion of our profits with those in need and we remain ever more faithful to our customers.”