When it comes to helping others Bermudians are very generous. Time and again they put their hands in their pockets to donate substantial sums for domestic and international causes. Often, however, when "the cause of the day" has passed and the raised funds have been distributed, the donors forget the cause.

Not so the staff at the Bank of N.T. Butterfield & Son. Ltd., however. They have set up a permanent trust fund in partnership with their employers to provide year-round assistance to charities and non-profit organisations of their choice.

Known as the Bank of Butterfield Employee Shared Trust (BEST), its stated goals are: "To maximise the amount and determine the reach of corporate charitable donations. To enable and support employees' philanthropic efforts, and to demonstrate trust for decisions made by staff, which will in turn distinguish the Bank as an outstanding corporate citizen, and an employer of choice".

Because the Bank's staff of over 700 employees are drawn from all sectors of Bermuda society, they not only reflect the community at large but also are aware of its many needs, and are likely to be personally affected, either directly or indirectly, by the Island's concerns.

By the same token, Bermuda's many charities are facing growing demands for their services, which means they need even more donor dollars to remain operative. The Bank of Butterfield staff decided they wanted to help meet Bermuda's needs on a regular basis, but they also wanted to ensure that their contributions would be directed to where they would do the greatest good.

Put the two together, and you have the raison d'?tre for BEST.

The new employer-employee alliance is run by a board of directors led by chairman Devonne Bascome, who follow the direction set by the employees. The majority of board members are employees drawn from all levels of the Bank, with a minority appointed by management.

The four main categories on which the BEST board will focus its financial assistance are: Education; Health and Human Services; Conservation and the Environment; and Civic and Community Service. Within these categories, Bank employees have the indicated the following specific areas where they wish to assist:

Education

l Educational programmes focusing on literacy and achieving self-sufficiency

Promoting family involvement or community collaboration in education

Directing health services to those in need

Offering assistance in achieving self-sufficiency to those who are financially or emotionally disadvantaged

Conservation and the Environment

l Supporting environmental projects or initiatives which enhance Bermuda's immediate and surrounding natural environment

Services, other than health care and education, providing support for those in need

Requests for donations by registered charities and/or non-profit organisations will have to address a demonstrated need in the community.

"These are the categories BEST developed to invest in as they cover the basic foundations for living in this community. We don't expect then to change," Mr. Bascome says. "We are trying to do the right thing. Not only do our investors feel comfortable investing in what we do, but the community feels the effect of what we do."

Employee contributions to BEST are entirely voluntary, and can be made in several ways: through regular salary deductions; a one-off lump sum, or via personal cheque. The official minimum deduction is $2, although $5 per pay period is encouraged, and there is no maximum deduction. Employees must commit in advance for one fiscal year at a time, but can amend or withdraw their commitment at the end of any fiscal year. For its part, the Bank agrees to match total employee donations dollar for dollar up to a maximum of $100,000 based on the amount collected annually. Board members are also investors.

From these combined employee-employer investments, the BEST board of directors determines which charities and non-profit organisations will benefit from the annual budget, but each participating employee fills out a form indicating their preference for distribution of the funds, which information is taken into consideration at the beginning of each fiscal year. Sub-committees are also charged with responsibility for each of the four designated areas on which BEST focuses.

The board meets regularly to review donation requests from charitable and non-profit organisations, all of which are pre-screened by sub-committees against set criteria for eligibility. Funds are also distributed quarterly, with a ceiling set on the annual sum to allow the trust to grow. In addition to applications for assistance from recognised sources, BEST also intends to conduct its own research into community needs and programmes which conform to the investors' stated guidelines.

Minutes of meetings keep investors abreast of all Board proceedings, including the distribution of funds, and there is also a full reporting at the end of each fiscal year.

Since BEST came into being in August this year almost one-third - of Bank of Butterfield employees have become contributors. Thus far they have invested $41,015, which the Bank has matched, for a total of $82,030.

In distributing the funds for the first year, 50 percent of investors chose Education as the number one area to benefit, with Health and Human Services; Civic and Community Service; and Conservation and the Environment following in descending order.

Of the top two choices, investors selected the following community sections under each category as beneficiaries:

Education: Children, up to middle school age (43 percent), senior citizens (37 percent).

Health & Human Services: Senior citizens (36 percent), the financially challenged (34 percent)

BEST board chairman Mr. Bascome is thus far delighted with the progress of the new scheme, which is also a "first" in terms of his personal involvement with charity.

"I love the scheme," he says. "When I first heard about it I was somewhat cautious because I didn't really understand what was going on, but when I became a board member and subsequently the chairman and got more into it I was really impressed, and I will support it for as long as I work for the Bank. It is a great initiative, and a strong way for the employees to feel that they are having a positive impact in their own community. It shows the people of Bermuda have a good heart and want to put back into the community."