Citizens and Charter One banks' campaign to help heat shelters

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With skyrocketing heating bills expected again this winter, Citizens Bank and Charter One Bank are announcing the "Shelter Heating Assistance Campaign," a fuel assistance initiative to help defray this season’s heating costs for 345 homeless shelters. Citizens launched the initiative throughout New England last year, and has expanded this year’s campaign to help Midwest shelters in paying their winter heating bills. Heating costs are expected to increase by at least one-third this year following the impact of recent hurricanes on U.S. energy production.

The Citizens Bank and Charter One Foundations will provide a $625,000 lead gift to the campaign to assist homeless shelters in paying their winter heating bills. In New Hampshire, Citizens Bank is partnering with The New Hampshire Coalition to End Homelessness, and has pledged $75,000 toward the effort.

In addition, Citizens and Charter One branches throughout New England and the Midwest will accept contributions from customers and the general public between now and Jan. 31, 2006. WMUR-TV and 95.7/WZID-FM will help get the word out by airing public service announcements.

"One thing we know for certain is that heating costs continue to rise, and it will cost all of us more to heat our homes and our businesses this year," said Tom Metzger, president and CEO of Citizens Bank New Hampshire. "We recognize that when operating expenses at a shelter rise, other critical services can suffer. We hope that this grant will help those staying at area shelters continue to stay warm, have a meal, and gain benefit as they work towards finding permanent housing and economic independence."

According to the U.S. Department of Energy, households are expected to spend 48 percent more this winter on fuel if they heat primarily with natural gas, 32 percent more if they primarily heat with heating oil, 30 percent more if they heat primarily with propane, and 5 percent more if they heat primarily with electricity.

Metzger added, "Last winter, with the financial support of our local communities, we donated more than $55,000 to help New Hampshire homeless shelters pay their winter heating bills. This year, with the need being even greater, we hope to do more. We ask the community to join us again in our efforts to help ensure warm shelter and support services for those who need our assistance most."

New Hampshire area shelters expect to see a considerable increase in heating costs this year over last. The latest numbers on homelessness in New Hampshire continue to be staggering. In the past year, state-funded homeless shelters provided temporary housing to more than 6,440 people.

For shelters, rising heating costs pose budget strains on critical programs and services offered to the homeless. Keith Kuenning, executive director of the New Hampshire Coalition to End Homelessness said, "This generous donation of $75,000 from the Citizens Bank Foundation will go a long way toward assisting shelters throughout the state in helping individuals and families through this long New England winter. We certainly thank Citizens for their generosity and we welcome their ongoing community support and involvement. Without their foresight, many shelters in state would certainly struggle to help those in need this winter."

The coalition will distribute the funds to area homeless shelters. New Hampshire shelters that will benefit from the donations are: Bridges in Nashua; Child and Family Services in Manchester; Community Action Program Belknap and Merrimack Counties in Concord; Coos Family Health Services in Berlin; Cross Roads House in Portsmouth; Families in Transition in Manchester; Keystone Hall in Nashua; Harbor Homes in Nashua; Headrest in Lebanon; Helping Hands Outreach Ministries in Manchester; Laconia Area Community Land Trust Transitional Housing Program in Laconia; Merrimack County Rape and Domestic Violence Crisis Center in Concord; Monadnock Area Housing Coalition in Keene; My Friend’s Place in Dover; Nashua Soup Kitchen and Shelter in Nashua; New Beginnings - A Women’s Crisis Center in Laconia; New Generations in Greenland; New Horizons for New Hampshire in Manchester; Open Arms Outreach in Laconia; Pemi Bridge House in Plymouth; A Safe Place in Portsmouth; Southwestern Community Services in Keene; Starting Po

int: Services for Victims of Domestic and Sexual Violence in Conway; The Friends Emergency Housing Program in Concord; The Salvation Army in Laconia; The Salvation Army McKenna House in Concord; The Support Center at Burch House in Littleton; The Way Home in Manchester; Lynsey House Shelter in Lancaster; Union Street Shelter in Manchester; Voices Against Violence in Plymouth; WISE (Women’s Information and Services) in Lebanon; Women’s Crisis Services of the Monadnock Region in Keene; Women’s Support Services in Claremont, and YWCA Crisis Services in Manchester.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.