TD Banknorth receives award for excellence in creating homeownership opportunities

    PRESQUE ISLE — TD Banknorth, NA, was recently recognized as a Rural Development Homeownership Partner of the Year. The lender, which administers Rural Development’s Guaranteed Housing Program, was selected based on outstanding performance and having the largest loan volume for any lender working with the Rural Development Presque Isle Area Office. Throughout the partnership of over a decade between Rural Development and TD Banknorth, 253 families have been assisted in accomplishing their homeownership dreams in Aroostook and Washington counties.    Rural Development State Director Michael W. Aube said, “TD Banknorth is well-deserving of this recognition as a result of its exceptional commitment in creating homeownership opportunities for rural Maine residents. As a result of the unique partnership with USDA Rural Development, the future is bright for Maine homeowners.”
    An award ceremony was held June 25 at the TD Banknorth office at 680 Main Street, Presque Isle, with TD Banknorth staff from as far south as West Falmouth and as far north as Fort Kent.
    “We are truly honored to receive this recognition from Rural Development,” said Larry Wold, president, TD Banknorth, Maine. “We are extremely proud of our longtime partnership, satisfying the needs of so many in the communities we serve.”
     Lucille Albert, customer sales and service manager for TD Banknorth in Presque Isle, who has partnered with the Rural Development Presque Isle Area Office for over 10 years, spoke of her experience in working with Rural Development.
    “It has been an extremely rewarding experience for me to work with Rural Development to help families in Aroostook County realize their dream of homeownership,” said Albert.
    Rural Development’s section 502 Guaranteed single-family home loans are available to qualified individuals with an adjusted family income that does not exceed the moderate income limit for the area. Section 502 Guaranteed Loans promote homeownership throughout rural Maine by reducing risk to conventional lenders. These loans are available with no money down and provide financing up to 102 percent of the home’s value. For more information on the Rural Development Guaranteed Program, contact Judy Gengler at 764-4157 ext. 103.
    In Maine, TD Banknorth operates more than 55 branches and more than 90 ATMs. It is the state’s largest bank and provides more than 207,000 Maine households with a full line of retail banking products and services including commercial and consumer products, trust and investment services, commercial and personal insurance and residential mortgages. The branches of TD Banknorth have served their customers and communities in Maine for more than 100 years and are recognized for a commitment to personalized service, long-term customer relationships, local decision-making and community involvement. For more information visit www.TDBanknorth.com.
    USDA Rural Development’s mission is to increase economic opportunity and improve the quality of life in rural communities. As a venture capital entity, Rural Development has invested over $76 billion since the beginning of the Bush administration to provide equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure. About 1.5 million jobs have been created or saved through these investments. Further information on rural programs is available at a local USDA Rural Development office or by visiting USDA’s Web site at www.rurdev.usda.gov/me.