Høland og Setskog Sparebank: Supporting Local Communities

Høland og Setskog Sparebank has been a cornerstone of the local community for many years. The bank has a long history of supporting the people and businesses of the area.

One of the ways Høland og Setskog Sparebank gives back is through its community development initiatives. The bank has a strong commitment to investing in local projects and programs.

By supporting local projects, Høland og Setskog Sparebank helps to foster economic growth and stability in the area. This benefits not only the bank's customers but also the wider community.

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Høland og Setskog Sparebank was founded in 1849 by sogneprest Gabriel Smith Faye as Høland Præstegjelds Sparebank, with the initial capital consisting of grain silos.

The bank was established to provide financial services to the local community, and it quickly grew in size and scope. In 1861, the bank introduced elected board members, and by 1893, it had a supervisory board. This marked an important milestone in the bank's development.

The bank's first branch office was opened in Hemnes in 1893. This expansion into new territories helped the bank to reach a wider customer base and increase its revenue.

However, the bank faced a significant challenge in 1909 when Setskog separated from Høland, resulting in the bank's first loss. Setskog eventually withdrew from the partnership and established its own bank, Setskog Sparebank, in 1912.

Despite this setback, the bank managed to recover and even thrive during World War I. However, the economic crisis of the late 1920s had a negative impact on the bank, and it became a property owner. Fortunately, the bank was able to navigate this period successfully and continued to operate without major issues during World War II.

The bank's 100th anniversary in 1949 was a significant milestone, with a forvaltningskapital of nearly 6 million kroner and an egenkapital of nearly 360,000 kroner.

In 1985, the bank's headquarters was relocated from Løken to Bjørkelangen, marking a significant change in the bank's operations. The introduction of data processing systems, including kasseterminaler, was a major step forward in modernizing the bank's services.

Here are some key dates in the bank's history:

Høland og Setskog Sparebank offers grants and support to individuals and organizations in the form of stipends. The bank's stipends are awarded annually and are designed to promote talent and development in the areas of culture, sports, and education.

The bank's culture stipend is worth 60,000 NOK and is open to anyone over 16 years old. The stipend is awarded to a person in their entirety and is intended to support artistic and cultural projects.

The education stipend is worth 50,000 NOK and is open to individuals under 30 years old who have started their education at the Master's level or higher. The stipend is awarded to support higher education and is typically awarded to students at the Bjørkelangen Videregående Skole.

The sports stipend is worth 20,000 NOK and is open to individuals between 14 and 22 years old who have shown exceptional talent and achievement in sports. The stipend is awarded to support sports development and is typically awarded around the holiday season.

Here are the details of each stipend: