HOULTON, MAINE — Demonstrating its continued commitment to strengthening communities, Katahdin Trust, a community bank serving northern Maine and the greater Bangor and Portland regions, has proudly invested $1 million into Housing New England Fund VI, a program dedicated to financing affordable housing projects across the region. This investment brings the Bank’s commitment, including HNE Fund III and V, to a total of $2.5 million. The investment is designed to address the increasing demand for safe, high-quality and accessible housing for families and individuals.
Evernorth, a nonprofit organization serving the low- and moderate-income people of Maine, New Hampshire and Vermont with affordable housing and community investments, closed HNE Fund VI in March.
“Our investment reflects our belief in fostering sustainable, vibrant communities,” said Jon Prescott, president & CEO at Katahdin Trust. “Affordable housing is a cornerstone of economic stability, and we’re proud to support projects that make a meaningful difference in people’s lives.”
HNE Fund VI, which has successfully financed numerous housing developments, focuses on creating housing options that are both affordable and environmentally sustainable. This commitment aligns with Katahdin Trust’s broader mission to empower local communities.
In addition to this significant investment, Katahdin Trust has also partnered with the Genesis Fund, an organization renowned for its efforts to support community development projects. This partnership enables the Bank to contribute to initiatives that address housing shortages and create new opportunities for underserved populations.
“Our collaboration with the Genesis Fund is an exciting step forward,” added Prescott. “It’s another way we’re working to make a tangible impact where it matters most — right here in our communities.”
By investing in these funds, Katahdin Trust underscores its role as a community-first financial institution, dedicated not only to its customers but to the places they call home.
Evernorth is a nonprofit organization serving the low- and moderate-income people of Maine, New Hampshire and Vermont with affordable housing and community investments. Evernorth has raised and deployed over $1.5B in equity capital for affordable housing and built more than 17,000 affordable homes and apartments for low- and moderate-income people across northern New England. Learn more at www.evernorthUS.org.
Genesis Community Loan Fund is a certified nonprofit Community Development Financial Institution dedicated to connecting communities in Maine and northern New England with the capital and expertise needed to overcome barriers to opportunity and prosperity. Genesis provides flexible loans, expert project guidance, and policy advocacy to create affordable housing, healthcare, childcare and other essential community infrastructure. Learn more at www.genesisloanfund.org.
Founded in 1918, Katahdin Trust is a community bank based in Houlton, Maine, with more than $1.08 billion in assets and nearly 180 employees. The Bank offers financial services to individuals and businesses from 16 bank branch locations throughout northern Maine and the greater Bangor and Portland regions with a suite of digital and online banking solutions. Katahdin Trust is designated as a 2024 Best Places to Work in Maine, and a 2025 Best Place for Working Parents®. The parent company of Katahdin Trust, Katahdin Bankshares Corp, common stock is quoted on the OTC Markets (OTCQX) under the symbol KTHN. Learn more about the Bank at www.katahdintrust.com and follow Katahdin Trust on Facebook, X, LinkedIn and Instagram.
