Northfield Savings Bank Partners with Vermont Manufacturing Extension Center to Launch Maker’s Fund for Vermont Manufacturers

Northfield Savings Bank (NSB) announced a partnership with Vermont Manufacturing Extension Center (VMEC) to support small and medium-sized manufacturers (SMMs) in the state of Vermont. NSB will contribute $60,000 over a two-year period ($30,000 per year) to create a “Maker’s Fund” through VMEC. The fund will be used to provide a range of services, based on operational needs, to manufacturers with 20 or less employees to sustain and grow their businesses. VMEC will carry out the work designed to help the SMMs sustain and grow. The partnership began October 1, 2024 and will extend to September 30, 2026.

Each organization has been successful in providing services to their Vermont-based customers for many years; NSB has been a leader for financial services in the Green Mountain State for over 150 years and VMEC, who’ll be celebrating their 30 year anniversary next year, assists Vermont manufacturers with their business goals, applying proven methodologies and leveraging state and national resources to help them succeed. This partnership between NSB and VMEC will help provide access to services for a wider group of makers and address a critical segment of Vermont manufacturing. This group of makers will help drive the Vermont economy, sustain and create jobs and with financial and industry expertise, grow to become larger employers and contributors in Vermont.

“Northfield Savings Bank is excited for this opportunity to partner with VMEC in its mission to support Vermont’s manufacturing community,” states Rosemarie White, NSB Senior VP of Commercial Banking. “As a community-based financial institution, we understand the challenges business owners face on a daily basis. This partnership will provide VMEC with a financial resource focused on small and medium-sized manufacturers who may not be in a position to take advantage of all VMEC has to offer. We are happy to assist VMEC with their support of this very important segment of Vermont’s economy.”

VMEC Center Director and CEO Patrick Boyle adds: “We are delighted to be able to partner with a long term Vermont institution with an aligned mission to support makers in Vermont.  Our partnership with Northfield Savings Bank will allow VMEC to provide services to those smaller manufacturers who need the Maker’s Fund support. We are so grateful to NSB and we are eager to start delivering services.”

VMEC and NSB have devised a set of guidelines for SMMs who may be eligible to leverage the fund; to learn more, visit VMEC’s Funding, Partner and Resource page of their website.