I

Foundation work continues upon EverTrust Bank's merger with Key Bank. 

In the fall of 2004 EverTrust Financial Group was agreeably acquired by KeyCorp, the parent company of Key Bank.

EverTrust Foundation leaders report that the 14-year-old Foundation will remain active as the leading philanthropic organization in Snohomish County.

"In keeping with the vision of the EverTrust Bank founders," said Tom Gaffney, EverTrust board member, "the EverTrust Foundation was designed from its inception to operate in perpetuity.  That vision, beginning with the Bank's founding as the Scandinavian-American Savings Association in 1916, has always focused on being an integral part of the communities we serve."

Gaffney went on to say, "With an asset base of more than $10 million, the Foundation will continue its legacy of vital support of local services and organizations for generations to come."

The Foundation has distributed in excess of $2.5 million to more than 100 agencies and organizations during the past seven years.
 

Homeless Teen Shelter receives $50,000.

EverTrust Foundation board members responded to the growing needs of Cocoon House, a homeless teen shelter, with a $50,000 contribution toward the construction of new facilities in north and east Snohomish County.

In fiscal year 2000 to 2001 Cocoon House experience a 26 percent increase in the number of teens sheltered.  Lack of space forced the organization to turn away an estimated 100 youths during that time.  As a result, the non-profit organization launched "Building Dreams," a capital campaign to raise $3.6 million.

"Our purpose," said Cocoon House Executive Director Lee Trevithick, "is to better serve the youth of Snohomish County by opening new shelters, renovating existing facilities, upgrading technology and creating a learning lab."

image