Member News – Atlantic Stewardship Bank
October 5th, 2017
Atlantic Stewardship Bank announced that, over the past twelve months, it has donated over $508,000 in charitable contributions to more than 250 recipients. Through the Bank’s unique Tithing Program, ASB is privileged to be the only U.S. bank that tithes or gives back 10% of its taxable income with nonprofit, educational, charitable, and/or evangelical religious recipients each year.
“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 honored to be able to share a portion of our profits with those in need and remain faithful to our customers and the community.”
In accordance with its Tithing Program, each year recipients are selected by the Bank’s Board of Directors and ASB 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 and other donations exceed $9.3 million.
As Atlantic Stewardship Bank’s customer base grows, so does the bank’s ability to help others by way of increased donations. A strong community bank, Atlantic Stewardship Bank attracts hundreds of new accounts annually with its outstanding customer service, convenient locations and diverse range of financial solutions.