Financial Capital: Milton, VT

Peoples Trust Company: Local Bank

      The presence and use of financial capital is critical for community development. There are strong relationships between financial capital and other community capitals. For example, forms of natural capital can be converted into financial capital, and it may be difficult to create forms of built capital without financial capital. Financial capital can be defined as the “financial resources available to invest in community capacity building, to underwrite business development, to support civic and social entrepreneurship, and to accumulate wealth for future community development” (Green and Haines, 2015). Access to financial capital varies for members of communities and it is generally poor and minority communities who lack adequate access. It is important to ensure that all members of a community have equitable access to financial resources that can help improve quality of life.

Local financial institutions offer economic resources to community members. Peoples Trust Company is a local Vermont bank that has been active in Franklin County for 130 years. It is Franklin County’s only locally owned and operated bank and maintains a branch in Milton, VT. “At Peoples Trust Company we believe People are more than account numbers, and banking is more than financial transactions” (Peoples Trust Company, 2016). Financial institutions should be concerned with their community but often times non-local institutions can be disconnected from the community in which they operate and that they affect. Peoples Trust Company is focused on achieving a more personal relationship with its clients. The bank also participates in volunteer efforts and donates to other local organizations to further support the community. Peoples Trust Company has contributed to Champlain Housing Trust, Habitat for Humanity, and the Vermont Community Development Association (Peoples Trust Company, 2016). These contributions help to distribute and mobilize financial capital that will remain within local communities.

Image courtesy of Peoples Trust Company website

Image courtesy of Peoples Trust Company website

Local financial institutions often have closer ties to the communities that they are serving. Peoples Trust Company is an example of a bank that seeks to have a positive and active role in Franklin County and Milton, VT. Proper management of and adequate access to financial capital is necessary to ensure that economic resources are used appropriately and are available to everyone. Peoples Trust Company’s mission of creating close relationships with bank members and the community at large helps to provide access to financial capital.



Works Cited:

Peoples Trust Company. (2016). Retrieved from

Green, G. P., & Haines, A. (2015). Asset Building & Community Development. Los Angeles, Calif.: SAGE Publications.