Page 4 THE REVERE ADVOCATE – FRIDAY, DECEMBER 23, 2022 Banks team with MVES to support financial stability – donations total $55K Local banks are helping to address one of the most diffi cult challenges facing our community: fi nancial management www.eight10barandgrille.com We Have Reopened for Dine-In and Outside Seating every day beginning at 4 PM Mystic Valley Elder Services Money Management Program Manager Larry Poirier (left) and Program Associate Alex Ragusa (right) assist older adults and people with disabilities throughout the organization’s service area. With support from local banks, said Poirier, MVES volunteers “make an immediate and meaningful impact in the community.” WE'RE OPEN! 8 Norwood Street, Everett (617) 387-9810 STAY SAFE! Attorneys at Law 14 Norwood St., Everett, MA 02149 Phone: (617) 387-4900 Fax: (617) 381-1755 John Mackey, Esq. * Katherine M. Brown, Esq. Patricia Ridge, Esq. For Advertising with Results, call The Advocate Newspapers at 781-286-8500 or Info@advocatenews.net T he Money Management Program at Mystic Valley Elder Services (MVES) assists older adults and people with disabilities with budgeting, bill paying and keeping track of fi - nancial matters. MVES recently accepted generous donations and sponsorships from the following: • Brookline Bank • Eagle Bank • East Cambridge Savings Bank • Eastern Bank Charitable Foundation • EverettBank • Metro Credit Union • M&T Bank Foundation/People’s United Community Foundation of Eastern Massachusetts • Northern Bank & Trust Company • Patriot Community Bank • Salem Five Charitable Foundation • StonehamBank • The Savings Bank/TSB Charitable Foundation, Inc. • Wakefi eld Co-operative Bank • Winchester Savings Bank • Winchester Co-operative Bank These banks have already contributed a combined total of $55,000 this year to support the Money Management Program. “Without the support of these banks, the Money Management Program could not accomplish its goal of helping people stay in the community and stay independent,” said MVES CEO Lisa Gurgone. “We are truly grateful for our partners in the business community.” Financial challenges are a growing problem for older adults. The average debt of households of ages 65 and up nearly tripled from 1989 to 2016, according to a 2021 report by the Congressional Research Service. The percentage of households of ages 65 and up that held any debt increased from 37.8% to 61.1% in that time. In addition, the report found that in 2019 4.9 million people aged 65 and older lived in poverty. Since 1990, the Money Management Program has assisted older adults and people with disabilities throughout the MVES service area. The program’s trained and insured volunteers help prevent evictions and loss of utilities and safeguard residents from fi nancial exploitation and abuse. “We are grateful that providing fi nancial education opportunities is a core value for these banks,” said MVES Money Management Program Manager Larry Poirier. “With their generosity, our volunteers make an immediate and meaningful impact in the community.” Please call 781-324-7705 or email info@mves.org if you are interested in sponsoring the Money Management Program and/or becoming a volunteer, or know someone who could benefi t from the program.
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