SSV OLIVER HAZARD PERRY BOAT LOAN PROGRAM BENEFICIARY
BankNewport Executive Vice President, Commercial Lending, Leland R. (Lee) Merrill, Jr., recently presented a contribution in the amount of $1,200 to Oliver Hazard Perry Rhode Island (OHPRI) Board Chair, Bartlett Dunbar on behalf of the Bank’s consumer boat loan program.
Announced back in March 2012, and continuing through December 31, 2012, BankNewport’s boat loan customers had the opportunity to help build Rhode Island’s Official Sailing Education Vessel, the SSV Oliver Hazard Perry. The Bank’s donation was based on the total number of loans originated during the time period.
“BankNewport is proud of its long partnership with the Oliver Hazard Perry Rhode Island organization,” stated Lee Merrill in a previous statement. “We commend their unwavering commitment to construct this sailing school vessel, a significant economic development, educational, and cultural benefit for Newport and the state.”
BankNewport extended past grants totaling $35,000 to OHPRI, including $25,000 in 2008 for the Phase One acquisition and shipbuilding plan for the vessel, and a second grant in the amount of $10,000 in 2010 in support of the OHPRI headquarters at the Buliod-Perry House on Washington Square.
In February 2013, OHPRI announced that the 196’ three-masted, square-rigged tall ship has been given a permanent home on the north side of a new 240-foot-long fixed pier that has been designated as part of the scheduled improvements to Fort Adams State Park in Newport. The SSV Oliver Hazard Perry, which is currently under construction at Senesco Marine in North Kingstown, Rhode Island, will be the first oceangoing full-rigged ship to be built in the United States in over 100 years. The ship’s mission is to be Rhode Island’s flagship non-profit maritime campus, offering experienced-based core learning opportunities to a diverse student population, including those with disabilities.
OHPRI has raised $6.5 million in donations; however, more than $2.5 million in funds must still be raised in order to complete the ship and begin its first year of operations. For more information or to extend a donation, contact OHPRI Director of Operations, Jessica Wurzbacher at 401.841.0080.
BankNewport, founded in 1819 and currently holding $1.1 billion in assets, is an FDIC-insured savings bank and is a subsidiary of the Mutual Holding Company, OceanPoint Financial Partners, MHC. Along with its financial partner, OceanPoint Insurance Agency, Inc., BankNewport is proud to serve the financial needs of customers from banking and insurance offices located throughout Rhode Island.