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FSB purchases $10,000 in CDFA tax credits to support Family Promise

November 2, 2021

Franklin Savings Bank recently purchased $10,000 in Community Development Finance Authority tax credits to assist Family Promise of Southern NH with a short-term housing project to continue their mission of combating homelessness for families. Following the success of a recent $4 million project involving the repurpose of a former Nashua school into 24 units of short-term housing, Family Promise plans to acquire and repurpose another property located in western Rockingham County to assist families struggling with homelessness in this community.

“On behalf of our board of directors, we are pleased to support Family Promise of Southern NH with the work they do to assist families experiencing homelessness as a result of a life-changing event,” commented Ron Magoon, President & CEO.  “I applaud them for the incredible work they do to ensure residents receive access to other critical services to lift them out of homelessness, so they can become self-sufficient and thrive within their community.”

Marc Siragusa, board member of Family Promise of Southern NH, added, “We are grateful for the support of Franklin Savings Bank and NH CDFA’s tax credit program.  These partnerships with local organizations and agencies create opportunities for our organization to fulfill our mission to provide safe housing and education for homeless families to grow out of homelessness to sustainable independence.”

Members of FSB & Family Promise

Pictured (l-r): Executive Director Pam Wellman, Family Promise of Southern New Hampshire; Jennifer Demers & Andrew Cirrone of Franklin Savings Bank; Marleen Paquette and Marc Siragusa, board members of Family Promise.

About Family Promise of Southern NH

Founded in 2001, Family Promise of Southern NH is a community-based, faith-supported organization focused on preserving families in times of crisis.  Based in Nashua, NH, the organization has assisted over 200 families achieve permanent, sustainable independence, as well as provided services to thousands of other families to assist with solving legal, financial, health and personal issues that hinder their ability to become self-sufficient.

About Community Development Finance Authority

CDFA is a statewide nonprofit public authority focused on maximizing the value and impact of community development, economic development, and clean energy initiatives throughout New Hampshire.  Visit for additional information.

Established in 1869, Franklin Savings Bank is an independent, mutually-owned community bank, offering a full array of commercial lending, personal banking and investment services. Headquartered in Franklin, the Bank has offices in Bristol, Boscawen, Tilton, Gilford, Merrimack and Goffstown. Through its wholly-owned subsidiary, Independence Financial Advisors, Franklin Savings Bank also offers investment, insurance and financial planning services. A recognized leader in providing the latest in financial services technology, Franklin Savings Bank is committed to serving the needs of businesses, families and the communities it serves, through a dedicated team of employees, a diverse line of financial products and services, and continued investment in emerging technology.

Franklin Savings Bank has donated over 11% of its net income to charity since 2009. Visit to learn more or follow the bank on Facebook, LinkedIn, Instagram, Twitter and YouTube.

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