For its 140th anniversary in 2024, Oxford Bank didn’t just celebrate with a party. The $870 million-asset community bank in Oxford, Mich., turned the occasion into an opportunity to benefit its local community.
Throughout its year of celebration, Oxford Bank team members raised a total of $150,000 in donations and completed 750 hours of community service that supported several community events and programs.
Matt DeFinis, Oxford Bank’s senior marketing specialist, says, “We’re backed by our communities, so it’s always right to reinvest in them, let them know that they have our support and thank them for their relationship with us.”
Leading by example
Oxford Bank’s tagline states that it is committed to “delivering value for life.” Often, that means supporting its community, and that’s just what it did.
“We like to do a multitude of different volunteering [activities], whether it’s just in the community or benefiting a different person,” says DeFinis.
For example, in June 2024, Oxford Bank partnered with Food Gatherers, a nonprofit organization dedicated to rescuing local food and using food resources for hunger relief. Oxford Bank’s chairman, president and CEO David Lamb, DeFinis and other team members joined Food Gatherers at an event to collect donations with a goal of reaching 1 million meals for individuals facing hunger. They reached this goal in December 2024.
From Nov. 21–22, 2024, Lamb and other Oxford Bank executives braved Michigan’s brisk fall weather for a “sleep out” event to raise awareness and support unhoused youth.
Hosted by homeless shelter Covenant House Michigan (CHMI), the event was part of a nationwide cause to raise awareness of the challenges faced by homeless youth. Funds raised by the participants go toward CHMI’s critical services, such as job training, mental health counseling and healthcare.
Oxford Bank is also dedicated to strengthening community ties through its participation in the lively Concerts in the Park event. During these gatherings in downtown Oxford, bank team members volunteer to serve popcorn and engage with attendees.
Volunteer efforts are encouraged at every level of the bank. Oxford Bank even uses a software program, TrackItForward, to record volunteer hours and coordinate volunteering events. “It is definitely all the way through the organization,” says Lamb. “People just love [volunteering].”
Cultivating financial literacy for all
For the sake of long-term community wellness, Oxford Bank is dedicated to advancing financial literacy in community members of all ages.
Oxford Bank partners with GreenPath Financial Wellness, a nonprofit focused on promoting financial wellness, and contributes $25,000 each year to support the nonprofit’s mission. This alliance enables the community bank to share vital financial education resources with its employees and the broader community.
“[Bank employees and the broader community] have access to webinars and various digital platform accesses and training courses,” says DeFinis. “It’s kind of a double-edged sword in the sense that it helps our communities, but it’s also a resource for our teams.”
Oxford Bank’s efforts to ramp up financial literacy through its partnership with GreenPath Financial Wellness connects back to its Money Masters Financial Literacy Program, which it launched in the last quarter of 2023. The program offers community members tools to develop their financial management skills through expert seminars, interactive online activities, financial calculators and more.
Lamb credits Nancy Rosentrater, chief operating officer of Oxford Bank, as the impetus behind seeking an external source of financial expertise. Rosentrater spearheaded the initiative to craft a program that caters to learners of all ages, ranging from children, teens and young adults to working adults and individuals on the cusp of retirement.
DeFinis says it’s all about access to information. “Part of the goal of [the Money Masters Program] is, regardless of what stage you’re at in your financial journey, there are resources available to you to help you when you’re in financial trouble or just need more information,” he says.
A legacy of kindness
Celebrating 140 years of service is a remarkable achievement, but for Oxford Bank, it’s all about the people. Throughout this milestone year, the community bank remained steadfast in its dedication to nurturing its relationships and exploring new ways to better serve the community.
Lamb credits the community bank’s enduring success to the surrounding community’s unwavering support. “We are a relationship-oriented company. That’s what we’re all about,” he says. “It’s really the core of everything that we do.”
“Relationships are what we live and breathe,” DeFinis adds. “It’s how we work.”
