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Bank Sees Spike in Grant Applicants

First Federal Bank of Northern Michigan says grant applications for its Community Foundation have sky rocketed this quarter.

With previous quarters seeing ten applicants, six applicants, even as low as four applicants for one quarter, the bank says they have received a whopping seventeen grants for this quarter. These grant applications came from all across northeast Michigan, according to First Federal’s Director of Financial Reporting.

“For this cycle here we went as far north as Cheboygan, as far south as Oscoda, and as far west as Gaylord,” says Eileen Budnick.

President Mike Mahler says that the spread of applications across the region aligns with the bank’s mission for the foundation.

“It matches up with our footprint as a bank. We cover that same footprint. It’s a part of our mission to support all of the communities we do business in, so this fell right in place for us this quarter. It was beautiful,” Mahler says.

First Federal Bank of northern Michigan’s Community Foundation is a way for the bank to give money to local, nonprofit organizations such as food pantries. And this quarter saw applications from several new applicants. In past quarters, the bank would have no choice but to give most of its funding to the few organizations that applied. But this quarter will be different, and the bank looks forward to being able to spread the wealth out.