IMPORTANT: MERGER UPDATE AS OF 10/20/21
As communicated over the past several months, People’s United Bank is merging with M&T Bank.
As a result, we understand that you may have questions about how this will impact our two Foundations and what that could mean for your organization.
While we await regulatory approvals and for the transaction to close, People’s United Community Foundation (PUCF) has decided to postpone its November grant application period and will not be accepting new grant requests at this time.
Although we are postponing our November open application period, we are committed to ensuring that the temporary suspension of accepting applications does not impact the timing of future funding decisions, which we know our past grant recipients have come to rely on.
As previously communicated, the People’s United Bank Foundations will continue to operate according to their respective grant cycle timelines, for those cycles that are scheduled to be paid out in 2021. For PUCF, applications that were submitted during our July cycle will be decided on in late October and communicated by early November. For PUCF of Eastern MA, applications that were received by our October 1st deadline will be announced in late November. These will be our last grant cycles to be paid out this year.
Both People’s United and M&T are continuing to closely consider the future Northeast community giving strategy and remain committed to supporting the communities we serve. We are enthusiastic about the opportunity to combine our organizations and we are confident that our shared community banking philosophies will provide significant long-term value to the communities in which we operate.
We will be sure to keep you informed of key developments along the way and any other changes that may result. Please check back next month when we will provide another update. Thank you for your understanding and patience.