American Savings Foundation was established by the board of directors of American Savings Bank to give back to the towns and communities served by the company for 140 years. The board believed that the bank should not only serve its customers well, but also help make the entire community a better place to live and work. They believed in the positive connection between good business practices and corporate social responsibility.
Watch the American Savings Foundation Legacy video to learn more.
The American Savings Foundation carries forward these values. It remains a permanent, independent charitable endowment dedicated to strengthening the community by supporting education, human services, and the arts, with a special emphasis on the needs of children, youth, and families.
Our founders created a legacy of help and hope. The endowment fund will continue to provide for this legacy in our community for generations. The Foundation works both independently and through the charitable organizations in our area that help people improve their lives. It provides not only financial support, but also helps organizations to work together more effectively. Working together, the community brings a meaningful measure of hope to underserved people who are struggling. The Foundation strives to steward the endowment wisely and contribute funds effectively. This strengthens all aspects of our community, and thereby improves the quality of life for everyone, which is the goal.
The Foundation works both independently and through the charitable organizations in our area that help people improve their lives. It provides not only financial support, but also helps organizations to work together more effectively. Working together, the community brings a meaningful measure of hope to underserved people who are struggling. The Foundation strives to steward the endowment wisely and contribute funds effectively. This strengthens all aspects of our community, and thereby improves the quality of life for everyone, which is the goal.
The Foundation is committed to the mission of continuing to give back to the Connecticut towns once served by American Savings Bank, and to continuing to invest in the people and organizations that make our communities strong. That is a lasting commitment.
Robert T. Kenney was the founding chairman of the American Savings Foundation, who passed away in 2011. It was Bob Kenney’s vision that led to the creation of the Foundation - the first of its kind in the state. His commitment to helping others will always underscore the work of the Robert T. Kenney Scholarship Program at the American Savings Foundation.
Bob grew up in Waterbury, the son of immigrants who instilled in their children the values of education and hard work. A scholar and an athlete, Bob returned to his hometown after college to raise a family and start his career. He became a leader in the banking industry in Connecticut. From his own experiences he understood the importance of making a college education affordable for the next generations of leaders.
As chairman, president & CEO of American Savings Bank, Bob wanted to build a great community bank, and through the foundation, give back to the communities it served.
In February 2003, American Savings Foundation announced a gift to Central Connecticut State University (CCSU) establishing the American Savings Foundation Chair in Banking and Finance.