Norway Savings Bank and Avesta Housing today announced that Norway Savings Bank will provide the financial support necessary to launch the Home Buyer Education Program at Avesta’s Home Ownership Center beginning in June.
Norway Savings Bank's partnership with Avesta expands the delivery of homebuyer education courses in Cumberland County.
"Our partnership with Norway Savings Bank allows us to provide services that are vital for sustaining homeownership," said Dana Totman, President of Avesta Housing. "Services that until now were not widely available outside the city of Portland."
As the Center’s initial offering, the home buyer education classes will be held monthly at Avesta locations throughout Cumberland County. The program enables consumers to learn about the home buying process and covers all aspects of buying a home from budgeting, to credit repair, finding the right home, understanding the mortgage loan process, and the responsibilities of being a homeowner.
"Data has shown that consumers who receive pre-purchase training are not the ones who become delinquent on their loans," said Darci Hamm, Senior Vice President, Retail Banking for Norway Savings. "There are affordable homeownership opportunities that exist today, and now is the perfect time for families to realize their dreams of owning a home."
The recent housing crisis underscores the need of providing home buyers with the skills and information necessary to sustain homeownership. The programs available through the HomeOwnership Center will help stabilize neighborhoods and communities, keep families near their place of employment, and prevent further harm to the local economy by reducing unnecessary foreclosure. All which contribute to the growth and betterment of Maine communities.
Dana Tait, Vice President and Branch Manager of Norway Savings South Portland office, will serve on Avesta’s Homeownership Services Advisory Committee. The Advisory Committee will help guide decisions regarding the HomeOwnership Center.
Founded in 1866, Norway Savings Bank is a leading mutual banking and financial services company headquartered in Norway, Maine. As of March 31, 2012, Norway Savings Bank had $964 million in total assets and provided financial services to over 38 thousand households throughout western and southern Maine. Norway Savings Bank has 20 branch locations and operates divisions in asset management, personal banking and business banking. In 2007 and 2008, Norway Savings Bank was recognized as one of the Best Places to Work in Maine by the Society for Human Resource Management’s Maine State Council. Norway earned the Financial Marketing Excellence Award from the American Bankers Association for its "Colorful Solutions" brand campaign in 2009. In 2011, Norway Savings Bank was recognized with the Gold-Level Well Workplace Award by the Wellness Council of America (WELCOA). This award distinguishes Norway Savings Bank as one of the healthiest companies in America. For more information, visit www.norwaysavingsbank.com