The bank was awarded for its endeavors in the Financial Education category.
Montecito Bank & Trust has received such positive feedback for its participation in the annual ABA sponsored Teach Children to Save Day over the last six years that the bank launched a year-round financial education initiative for the community called, Banking on our Youth. A Financial Literacy Coordinator bank position was created to partner with local nonprofit organizations and schools to expand financial education classes including a six-week summer program for at-risk students, a Get Smart About Credit program, economics and marketing classes for high school students and bilingual parent workshops. Over 80 Montecito Bank & Trust employees have volunteered over 500 hours of financial literacy education, reaching over 2,500 students in 22 local schools and over 400 parents.
The ABA selection committee chose five banks from a field of more than 140 nominations based on the creativity and thoughtfulness of programs – traditional or innovative in nature and structure – that embody the ideals of corporate social responsibility and demonstrate success in measurable terms.
“We are delighted to present Montecito Bank & Trust for their outstanding effort,” said ABA President and CEO Frank Keating. “Their financial literacy programs have had a tremendous impact on their community.”
“Montecito Bank & Trust is honored to receive this Community Commitment award which represents our commitment, passion and leadership in making our communities better places to live and work,” said Janet A. Garufis, president and chief executive officer. Montecito Bank & Trust and our employees have distinguished themselves for their longstanding commitment of giving back and our financial literacy programs are evolving to meet local needs and requests.”
Entries were divided into five categories including affordable housing, economic development, small business lending, financial education, and volunteerism and philanthropy. Two years ago Montecito Bank & Trust won a similar award for its special programs in reaching out to the under-served.
The Community Commitment Awards is a successor program to the ABA Community Bank Awards, which was established in 2005 to commend community banks’ exceptional charitable achievements. The program has evolved to better recognize the entire industry’s efforts in communities across the country.
Montecito Bank & Trust, an S Corporation, is a locally owned community bank founded in 1975 with branch offices located in Santa Barbara, Goleta, Solvang, Montecito, Carpinteria, Ventura, and Westlake Village. The bank offers a variety of competitive deposit and lending solutions for businesses and consumers, including business loans and lines of credit; commercial real estate finance; SBA loans; consumer loans; credit cards; merchant services; and online services, including mobile banking and cash management. Its Wealth Management Division, with locations in Montecito, Solvang and Ventura, provides full investment management as well as trust services for all branch office markets.
Montecito Bank & Trust received a 2011 designation of a Super Premier Performing Bank by The Findley Reports, an independent service which rates the annual financial performance of California banks. The Findley Reports has designated Montecito Bank & Trust as a Premier Performing or Super Premier Performing bank 26 times in its 37 year history.