BankNewport and Pastore Charitable Foundation Unite to Make A Difference

In conjunction with its branch acquisition last month of the former Randolph Savings Bank locations in Coventry and Cranston, BankNewport has also announced that it will assume a partnership with the Peter T. Pastore, Jr. Charitable Foundation, the Cranston based nonprofit established in honor of the memory of Peter T. Pastore, Jr., former Cranston City Council President and the Chief Operating Officer of Randolph Savings Bank at the time of his passing in June 2006. 

“It is with great pride that BankNewport join the dedicated Foundation board members, friends and supporters to uphold Peter’s commitment to our youth,” stated BankNewport President and CEO, Sandra J. Pattie.  “The Foundation’s funding priorities mirror those of the Bank and together we look forward to furthering their good work and making a difference in the communities we serve.”

The announcement of the Bank’s commitment ties in with the Foundation’s sixth annual fundraiser to be held on May 15, 2014.  Proceeds from this annual event help fulfill the Foundation’s mission to mobilize the generous spirit of the community to benefit local youth education, recreational activities, and human services.

Dr. Louise DiChiara Pastore, chair of the Pastore Charitable Foundation, stated, “We are so excited to have BankNewport support the Foundation and its mission to give back to the community.  The Bank’s commitment to community service will help us continue Peter’s legacy of ‘making a difference’ and supporting our youth.”

Since its inception in 2007, the Foundation has donated more than $100,000 to local beneficiaries, including the Cranston YMCA, CLCF Sports, CABINS (Community Against Bullying in Schools), RI Autism Project, Special Olympics RI and Junior Achievement of RI. 

The Foundation’s sixth annual fundraiser will be held on Thursday, May 15, 2014 from 6pm to 8pm at the Chapel Grille, 3000 Chapel View Boulevard in Cranston.  Tickets can be purchased in advance at the BankNewport branch at 875 Pontiac Avenue in Cranston, or by contacting Greg Ventura at greg_ventura@hotmail.com, as well as purchased at the door the night of the event.   

The mission of the Peter T. Pastore, Jr. Charitable Foundation is to provide financial support to nonprofits organizations that serve youth in the Cranston and surrounding communities, with funding priorities in the sectors of health and human services, community development, the arts and education. 

BankNewport, founded in 1819 and currently holding $1.2 billion in assets, is an FDIC-insured savings bank and is a subsidiary of OceanPoint Financial Partners, MHC.  Along with its financial partner, OceanPoint Insurance Agency, Inc., BankNewport is proud to serve the financial needs of customers from banking and insurance offices located throughout Rhode Island.


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