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Last updated on Monday, November 26, 2012
(BEDFORD) - Bedford Federal Savings Bank has given $18,000 to the local Boys and Girls clubs who are working on a merger.
Last Saturday the boards of directors of the Thornton Memorial Boys Club and the Limestone Girls Club voted to merge the two organizations.
Each has struggled with finances in recent years, and each has seen a drop in financial and volunteer support.
Bedford Federal helped by bolstering the Bedford Foundation for Youth coffers.
In a prepared statement, the bank said the donation is "an affirmation of the foundation's purpose, in support of the consolidation of the Boys and Girls clubs of Lawrence County, and as a continuation of Bedford Federal's commitment to supporting the youth of Lawrence County."
Shea Hooten, executive vice president of Bedford Federal and treasurer of the Girls Club, says the foundation is an umbrella organization, and the Boys Club does business under the foundation's nonprofit status.
People working on the merger hope to place the Girls Club under that same foundation, he says, to simplify the merger process. They hope to have a new board in place to begin governance on Jan. 1.
Business continues as usual at each club until the merger is complete.
In addition to making the donation, the bank also has challenged community residents to support the new organization with their time and their wallets.
Starting in January and running for the next five years, the bank will match a minimum of 20 cents of every dollar the community donates, up to $25,000 per year.
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