Provident Bank Charities contributes $10,000 to dispute resolution center

The Provident Bank Charitable Foundation has contributed $10,000 to the Dispute Resolution Center, an organization based in Goshen, that provides mediation services to residents of Orange, Putnam, Sullivan and Ulster counties.

The funding will support the creation of an elder mediation program, which will address the physical, legal, financial and emotional challenges individuals face as they move through their senior years. The program will help seniors resolve disputes with landlords, tenants and professionals as part of an effort to help participants avoid costly litigation in the courts. The center will also help mediate disputes involving seniors’ caregivers and families.

“The Hudson Valley’s senior citizen population is growing rapidly and we’re pleased to help the dispute resolution center serve this important part of our community,” said George Strayton, president and chief executive officer of Provident Bank. “The DRC helps people in the heart of Provident Bank’s market and we are proud to offer our support to this vital program.”

The center is implementing the elder mediation program to address the increasing number of cases, which directly relates to the fast-growing number of senior citizens in the Hudson Valley, said Roz Magidson, the center’s executive director.

“Elder mediation programs are springing up across the country, and with the growing case load involving the elderly we are seeing, we thought it would be very important to provide services designed for seniors,” said Magidson. “We plan to establish a special training program for volunteers interested in providing mediation services to elders during the fall. We are very grateful to the Provident Bank Charitable Foundation for their generous support, which will help launch this project.”

For more information, visit the Web site at www.providentbanking.com.

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.