CHESTERTOWN — Peoples Powered by Hanscom Federal Credit Union and its charitable foundation presented $40,000 in donations to 20 nonprofits, each receiving $2,000, during a welcome reception Thursday, Feb. 19 at Watershed Alley restaurant.
President and CEO Peter Rice and senior leadership met with local leaders, shared Hanscom’s vision for the region and advanced its commitment behind the Peoples Powered by Hanscom name.
“At Hanscom, we believe strong communities are built through partnership and purpose,” Rice said. “This welcome reception is about listening, building relationships and investing in the organizations that make a meaningful difference here on the Eastern Shore.”
Grant recipients represent community priorities, including education, youth programs, food security, support of veterans, housing support and other local initiatives aimed to strengthen Eastern Shore communities.
“These organizations are doing vital and meaningful work every day,” Rice said. “We’re proud to support them today and in the years ahead as part of our growing presence in Maryland.”
The event concluded with a group photo featuring grant recipients, foundation representatives and community leaders.
Listed alphabetically, the following nonprofits each received a $2,000 donation from Hanscom Federal Credit Union and its charitable foundation: Betterton American Legion Post 246, Blake-Blackston American Legion Post 77 in Easton, Busload of Books, Centreville American Legion Post 18, Chestertown RiverArts’ KidSPOT, Echo Hill Outdoor School, Horizons of Kent and Queen Anne’s, Kent Community Food Pantry, Kent Cultural Alliance, Mid-Shore Community Foundation, Millington VFW, Minary’s Dream Alliance, Open Doors Partners in Education, Rock Hall American Legion Post 228, The Shelter Alliance, ShoreRivers, Sultana Education Foundation, Sumner Hall, Talbot Post 70 American Legion and U.S. Colored Troops Memorial Fund.
As of Jan. 5, 2026, The Peoples Bank now operates as Peoples Powered by Hanscom Federal Credit Union.
On that date, Hanscom Federal Credit Union reported completion of its previously announced purchase and assumption transaction involving the majority of assets and liabilities of The Peoples Bank, based in Chestertown, following receipt of all required regulatory and shareholder approvals.
The transaction, originally publicized in December 2024 and unanimously approved by the boards of directors of both organizations, marks Hanscom’s official entry into Maryland and Washington, D.C.
With the consummation of the transaction, Hanscom now has about $2.1 billion in total assets, serves more than 115,000 members and operates 23 branches across Massachusetts, Maryland and Virginia, according to a news release.
As part of the transaction, Fleetwood Insurance Group, the insurance agency subsidiary of The Peoples Bank, joined Hanscom Federal Credit Union.
