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Business Beat: Community Bank donates $53K to ‘Good Neighbor Day’ causes | Business News

For the fourth consecutive year, Community Bank N.A. celebrated Nati onal Good Neighbor Day on Sept. 28, making donations to local nonprofit organizations.

Community Bank donated $53,750 to nonprofits across its four-state footprint in New York, Pennsylvania, Vermont and Massachusetts, according to a media release. Locally, nine branches in Otsego County contributed $250 to local nonprofits:

• Both Cooperstown locations donated to Angel Network of Cooperstown;

• The Oneonta branch on Main Street donated to Bugbee Children’s Center and Helios Care;

• The Milford location donated to C.H. Graham Hose Co.;

• The Schenevus branch donated to the Milford Fire Department;

• The Morris location donated to Butternut Valley Alliance;

• The branch on Chestnut Street in Oneonta donated to The Family Resource Network Inc.;

• The Oneonta Southside location donated to Super Heroes in Ripped Jeans.

“We’re proud to participate in Good Neighbor Day each year,” Regional Manager Paul LePore said in the release. “The sense of community is celebrated and nurtured in our neighborhoods where we support each other to build thriving communities.”

“We’re truly honored to be a part of the Otsego County community and are grateful for this chance to give back. Being a good neighbor and an active participant in our community is part of our core values,” Community Bank President and CEO Mark Tryniski said. “National Good Neighbor Day is an opportunity for us to celebrate and give back to our communities and neighbors.”

National Good Neighbor Day was created in 1971 by Becky Mattson from Lakeside, Montana, and proclaimed a national day by President Jimmy Carter in 1978. It is celebrated annually on Sept. 28.

Local business is employee-owned

As of Oct. 1, Golden Artist Colors, a global manufacturer of professional artist paints, is a 100% employee-owned company.

According to a media release, the transaction culminates a plan put in place in 2002, when the company implemented an Employee Stock Ownership Plan for staff. The company has been majority owned by employees since May 2010.

“Implementing 100% ownership for staff is very unique and something our family has dreamt about since the company’s beginning,” Golden CEO Mark Golden said in the release.

An ESOP is an employee benefit plan, which provides company stock to employees as part of their retirement benefits. As a 100% ESOP owned company, all of the Golden Artist Colors Inc. stock is now held in trust by the ESOP exclusively for the benefit of the GOLDEN employees, the release said.

“Mark and Barbara Golden’s goal was to secure a sustainable future for Golden Artist Colors staff that was beneficial to each of them,” Golden President and COO Barbara Schindler said. “Employee ownership, when done right, benefits all stakeholders and should be celebrated. It is a true win/win transaction for all parties involved.”

According to data provided by the National Center for Employee Ownership, there are about 6,600 ESOPs in the entire United States, holding total assets of more than $1.4 trillion.

NBT Bank makes seminars available

To mark National Cybersecurity Awareness Month in October, NBT Bank has published a series of cybersecurity webinars addressing the trends and concerns businesses should be aware of. The on-demand webinars were exclusive to NBT Bank partners and customers until now, according to a media release.

“With the dramatic shift to more people working remotely, this year’s Cybersecurity Awareness Month is more important to consumers and businesses than ever before,” said Terra Carnrike-Granata, senior vice president and director of information security. “While we provide our individual and business customers with robust fraud prevention tools and information, we felt there was an urgent need to get this information out to all members of our community to help them understand how to better protect themselves from cybercrime.”

In 2020, the Federal Trade Commission received 4.8 million reports of identity theft and fraud, up 45 percent from 3.3 million in 2019. The rise is mostly due to the 113 percent increase in identity theft complaints, the release said.

Carnrike-Granata said the best defense against cyber criminals is knowledge and awareness. Anyone who uses an internet-connected device, whether for personal or business use, should make it a priority to understand how cybercrimes can occur and how to best protect our personal and financial information from a potential security breach.

NBT Bank’s webinar series comes in four 30-minute videos on the following topics:

• The Current State of Cybersecurity: Protecting the Intangible;

• Are You Covered? Proactive Controls You Need Now;

• After A Breach: Effective Incident Response;

• Cybercrime Survivors: Stories & Lessons Learned.

To view each webinar, visit: www.nbtbank.com/cyber

Source: on 2021-10-01 18:52:30

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