Saturday, July 13, 2013

The United Fund

In my conversations with numerous people (yesterday was the most recent) regarding the $11 million fund being administered by Newtown Savings Bank and The United Fund, I keep hearing a major misunderstanding. 

No matter what one may think of the United Fund, the plain fact is that they are in no way what so ever profiting from the fund they're helping to administer.  In fact they're losing money.

The money is wholly controlled  by a group of people who have sole decision-making authority.  The Fund takes no fee for its efforts.

Much of the misunderstanding originates from one particular relative of one of the victims.  That person is often quoted in the press and her remarks are taken as fact.  The media needs to do some fact checking.  The Fund is getting a bad rap-at least in this particular instance.

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