Community News
ST. ANNE’S AWARDS $40,000 TO STEPPINGSTONE, INCORPORATED WITH MULTI-YEAR DONATION AND FHLBANK BOSTON GRANT
11/23/2020

St. Anne’s Credit Union is proud to announce its facilitation in the distribution of $25,000 in grant funding to support local nonprofit organization, Steppingstone Inc. as part of the Federal Home Loan Bank of Boston’s (FHLBank Boston) 2020 Jobs for New England (JNE) Recovery Grant program. This JNE Recovery Grant program is a relief program designed to help FHLBank members provide financial support to Small Business Administration-defined small businesses and nonprofit organizations that have experienced hardships during COVID-19. In addition to this forgivable grant, St. Anne’s is also donating $15,000 to Steppingstone to aid in the expansion of their new office building at 111 Durfee St. in Fall River, MA. These funds will assist them in providing an array of treatment services to combat mental health disorders and homelessness amidst the COVID-19 pandemic when more community members are in need of their essential services.
“St. Anne’s is always looking for ways to help our local communities prosper,” said Eileen Danahey, St. Anne’s President and CEO. “We are grateful to FHLBank Boston for offering this timely opportunity and helping us alleviate the pressure felt by local businesses while elevating the wellbeing of our community affected by this pandemic. Steppingstone has been providing exceptional services to those in need for nearly 50 years and we are happy to continue our longstanding support of their efforts – especially during the COVID-19 pandemic when the community needs their assistance more than ever. At St. Anne’s, we pride ourselves on being a pillar of the SouthCoast community and we are thankful to be able to extend this assistance to them so they can continue their important work on the front lines of this crisis.”
“The Jobs for New England Recovery Grant Program was introduced this year to help our members provide assistance to local small businesses and nonprofit organizations like Steppingstone that have been negatively affected by COVID-19. We are pleased that St. Anne’s Credit Union was able to access funding for Steppingstone, which offers critical services for homeless men and women,” said Kenneth Willis, senior vice president, director of housing and community investment at FHLBank Boston.
Along with these grants, St. Anne’s has been a supporter of Steppingstone for many years as individuals on their leadership team serve as part of their Board of Directors. Additionally in 2017, St. Anne’s in partnership with other local financial institutions and the FHLBank Boston’s Affordable Housing Program raised $4 million for Steppingstone’s First Step Inn homeless shelter, which allowed them to move to a new building to accommodate additional beds and serve more of the homeless population.
“We have a moral obligation to assist those in need of our help, especially in times like these,” said Peter Panaggio, St. Anne’s Senior Vice President and Chief Financial Officer. “These grants will help preserve and create job opportunities, support local economic development, and further important community services. Steppingstone not only provides a bed to sleep on – they offer the whole package, a solid foundation with access to wraparound services to end the pattern of homelessness: counseling, health checks, sobriety counseling, GED classes and financial literacy classes. People also have access to nutritious meals, showers and laundry facilities. During the pandemic, we feel an even greater urge to step up and we are proud to be able to provide support to our local communities that need a hand up during this time.”
To learn more about how St. Anne’s can help your business thrive, visit the Credit Union’s dedicated lending office at 585 State Road in Dartmouth or call 508.730.LOAN.
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ST. ANNE’S recognized as #1 CREDIT UNION, FOURTH YEAR IN A ROW
11/23/2020
St. Anne’s is pleased to announce that they have once again been recognized as #1 Credit Union in SouthCoast Media Group’s Best of the Best Awards for the fourth year in a row. This award is based on a consumer opinion-driven list of local businesses in the SouthCoast.
“We take enormous pride in our role as an upstanding community financial institution, so to be recognized for this award by members of the communities we serve for the fourth consecutive year is a true honor. We are thankful for their continued trust in us and for our talented team of employees who have helped us earn this recognition again,” stated Eileen M. Danahey, St. Anne’s President & CEO. “This award speaks volumes about our dedication to delivering outstanding customer service, offering personalized products and services and to our commitment to the communities within our footprint.”
The Credit Union has received numerous accolades in recognition of its outstanding customer service and lending efforts – including securing a spot in Banker and Tradesman’s Fast 50 commercial lending category that features the 50 fastest growing lenders in Massachusetts for the first six months of 2020. Additionally in the last year, they were Top-Rated for Credit Unions and Equity, Commercial and Residential Lending from Banker and Tradesman, Top 10 in Customer Service from The Warren Group’s MA Banking Benchmarks and recognized by Banker and Tradesman as the Top Mortgage Loan Refinancer in Bristol County.
St. Anne’s understands that when it comes to banking services, value and convenience are critical. From their tellers to their boardroom, everyone at St. Anne’s is dedicated to making their members their first priority. Their banking professionals will work with you to help make managing your money easy. To learn more about how St. Anne’s can help you achieve your financial goals, call 1-877-STANNES.
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ST. ANNE’S CELEBRATES 84TH ANNUAL MEETING
10/1/2020

St. Anne’s held its rescheduled 84th Annual Meeting outdoors at the Credit Union’s Corporate Office in Fall River due to social distancing guidelines on August 31. Board Chairman William R. Bouchard and Board Member Jo Ann Bentley were re-elected to their Board positions and among the numerous positive reports given, Chairman Bouchard and President & CEO Eileen M. Danahey spoke about how exceptional 2019 was for the Credit Union. President & CEO Eileen Danahey also reviewed the highlights of the past year as the Credit Union most notably attained a record-high $1 billion in assets, solidifying their spot as the 10th largest credit union in the State of Massachusetts where there are 150 credit unions.
Chairman Bouchard also reported favorable numbers in deposits – growing over $43 million to $831.1 million in 2019 and enabling the Credit Union to further reinvest and grant their members and their businesses over $147.8 million in loans – a 41% increase over the previous year that includes residential lending’s banner year of over $89 million in mortgage originations. Additionally in 2019, St. Anne’s gave back $281,000 to their members through their CashBack Checking rewards program and is proud to offer free checking with free ATMs within the SUM® network and monthly surcharge refunds for out-of-network ATMs on certain checking accounts. St. Anne’s continues to offer lower interest rates on loans, higher dividend rates on accounts and new technology and services – ranging from convenient enhancements like online account opening to new digital services such as Zelle person-to-person payments and Mobile Wallet.
Enjoying a reputation as one of the best financial institutions in the SouthCoast, St. Anne’s is grateful for the following awards bestowed upon them in 2019: #1 Financial Institution – 3rd year in a row from SouthCoast Media Group’s Best of the Best 2019; Top-Rated for Credit Unions and Equity, Commercial and Residential Lending from Banker and Tradesman’s Best of 2019 and Top 10 in Customer Service from The Warren Group’s MA Banking Benchmarks. In addition to these accomplishments, they’d also like to commend their residential lending team whose efforts throughout the year resulted in St. Anne’s being recognized by Banker and Tradesman as the Top 2019 Mortgage Loan Refinancer in Bristol County.
Ms. Danahey thanked staff as they continue to work with individuals and businesses to assist them with any financial struggles they are experiencing due to COVID-19. The Credit Union also remains committed to community reinvestment through donations to local organizations such as The United Ways of Fall River and New Bedford and financial literacy by hosting numerous free financial education seminars throughout the year, details can be found here or on the St. Anne’s Facebook page.
In addition to community support, since 1993, the St. Anne’s Scholarship Program has awarded nearly $350,000 to local students, including graduating high school seniors and grade school students at Fall River’s St. Stanislaus and Holy Name schools. In 2019, St. Anne’s expanded their program by offering $24,000 to their recipients to demonstrate their commitment. St. Anne’s offers many scholarships and essay contests annually here.
St. Anne’s looks forward to their future growth, which includes the grand opening of their ninth and newest location at 910 Pleasant St. in Fall River towards the end of 2020.
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St. Anne's Lends $2.75 Million to Local Entrepreneur through the FHLBank Boston’s Jobs for New England Program
7/3/2020

St. Anne’s Credit Union, a single source for financial services, financing options and resources for individuals and businesses, announced that they have assisted Stephen Silverstein, owner of The Black Whale, co-owner of Cisco New Bedford, founder of Not Your Average Joe’s and owner of Joe’s Original in Dartmouth, in obtaining $2.75 million in below market-rate financing through the Federal Home Loan Bank of Boston’s (FHLBank Boston) Jobs for New England program. The loan will assist Silverstein in improving, diversifying and stabilizing the economy of New Bedford while creating and preserving jobs through his business efforts.
The $2.75 million secured by St. Anne’s on behalf of Silverstein comes as interest rate reducing financing and will lock in an unprecedented rate of 2.42% for several years. Stephen Silverstein stated, “St. Anne’s is the best banking advocate of my businesses, truly an incomparable financial partner. I was not aware of this program when the commercial lending team at St. Anne’s contacted me in regards to this incredible opportunity and took care of everything for me. As a 5th generation entrepreneur, I’ve been around the business industry since I was born -- and this is by far the best interest rate I’ve ever had in my life. I always trust that St. Anne’s has my best interest in mind and this latest effort solidified this notion even further as these incremental savings are crucial to launching and sustaining my projects.”
In addition to the $5 million that St. Anne’s has committed to lend Silverstein to assist him in funding his three restaurants in the New Bedford area, this financing obtained by the Credit Union will allow Silverstein to see a savings of over $75,000 over the life of the loan as well as create 25 new jobs for the New Bedford community.
“Federal Home Loan Bank of Boston’s Jobs for New England program was created to provide members like St. Anne’s Credit Union with the low-cost financing they need to offer below market-rate small business loans to their members. Since the program was launched in 2016, participating members have provided attractively-priced business loans to a wide variety of small businesses, which in turn have helped to preserve or create thousands of jobs. We are pleased to support St. Anne’s as they’ve funded this important economic development initiative,” said Ken Willis, senior vice president, director of housing and community investment at FHLBank Boston.
“To ease uncertainty during the coronavirus pandemic, we are proud to work with our members and businesses through initiatives like deferring loan payments, our COVID-19 Assistance Loan, Paycheck Protection Program (PPP) and the FHLBank Boston Jobs for New England program to offer below market-rate financing. With all of our assistance efforts, we have been able to grant our members and their businesses over $21 million in loans, which for many, has been a saving grace,” said Peter Panaggio, St. Anne’s Credit Union’s Senior Vice President and Chief Financial Officer. “St. Anne’s is proud to support our members by providing funding that will truly make a difference in the communities we serve in the midst of the COVID-19 pandemic – and this latest loan is an example of our deep commitment to the SouthCoast, as it will assist Stephen Silverstein in stimulating the local economy.”
To learn more about how St. Anne’s can help your business thrive, visit the Credit Union’s dedicated lending office at 585 State Road in Dartmouth or call 508.730.LOAN.
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ST. ANNE’S Lends nearly $500,000 to steppingstone, incorporated
6/2/2020
St. Anne’s Credit Union, a single source for financial services, financing op tions and resources for individuals and businesses, announced today that they are financing nearly $500,000 to support the expansion of Steppingstone, Inc.’s operational and development efforts by providing customized financing options for the nonprofit organization to secure the purchase and renovation of their new office building at 111 Durfee St. in Fall River, MA. This effort will assist them in increasing their support of the clients in need of their services as they work to provide an array of treatment services to combat mental health disorders and homelessness.
Carlos DaCunha, St. Anne’s Senior Vice President and Chief Lending Officer, said “St. Anne’s is committed to investing in the communities that surround us and our team is proud to provide financing to a local nonprofit that is working to enhance quality living experiences for community members. This transaction is another example of our ability to secure extremely favorable financing – because of the power of our local lending team and commitment to quality - on behalf of clients that are looking to add value to their organizations. As a top leading financial institution, we are proud of the long-term relationship we have with Steppingstone and look forward to supporting its continued growth and positive impact as this relationship exemplifies our continued commitment to community development.”
“Steppingstone does a commendable job in Fall River and New Bedford to offer a variety of services and programs that help individuals and families build a strong foundation for recovery. They have been serving the community since 1972 and this expansion will contribute to their growth for years to come. As Treasurer of the Board of Directors of Steppingstone for 10 years and employed by St. Anne’s for over 25 years, I am proud to be associated with both organizations as they seek to strengthen the areas that we all live and work in”, said Michelle Marcos, St. Anne’s Senior Vice President of Human Resources.
Kathleen Schedler-Clark, Steppingstone’s Executive Director stated, “St. Anne’s has been a wonderful community partner of ours for many years. In 2014, when we moved the First Step Inn to a larger building, St. Anne’s stepped up to the plate with a $30,000 grant to allow us to accommodate additional beds and serve more of the homeless population. With this financing, the St. Anne’s team made the transaction seamless, quick – and offered an unbeatable rate. This space is the pivotal piece to allow us to build an accessible, safe, and welcoming office building to serve even more people in need. The lending from St. Anne’s allows us to focus on what matters: offering our clients only the best. Like St. Anne’s, we are committed to community, that’s why we choose to bank with them. They make us feel comfortable and their friendly demeanor is always consistent. We are forever grateful to them for their ongoing pledge to support our nonprofit and clients in our times of need."
To learn more about how St. Anne’s can help your business thrive, call 508.730.LOAN.
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ST. ANNE’S partners with other financial institutions to donate thousands of medical masks to local hospitals
4/14/2020
During the COVID-19 pandemic, St. Anne’s continues to demonstrate their commitment to the community by offering assistance – and thanks – to those that need it the most: the first responders. St. Anne’s, in partnership with Taunton Federal Credit Union, BankFive, New Bedford Credit Union and other local financial institutions are supporting local hospitals – including Saint Anne’s Hospital and Charlton Memorial Hospital - by donating thousands of much-needed masks in order to provide safety and support to physicians and nurses on the front lines of care.
“Giving back to the communities that we are a part of is at the core of our business. Our Credit Union is not a building or a business, it’s people unified for a common goal,” said Eileen M. Danahey, President & CEO of St. Anne’s Credit Union. “Our organization has a deep bond with the communities we serve and we feel a profound sense of gratitude for the healthcare workers. Over the past few months we have seen countless acts of bravery and sacrifice from these essential workers and feel it is our duty as good corporate citizens to give them our full support. Through our cooperative donation, it is our hope that we can help limit the spread of this virus and ease the burden on local medical personnel."
For more information about how St. Anne’s is supporting their members, employees and the local community – and their remote banking service offerings to bank from home – visit our online services page.
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ST. ANNE’S launches fast and convenient online account opening
4/14/2020
St. Anne’s Credit Union recently introduced a new digital platform for opening deposit accounts online designed to enable members to complete an application in five minutes or less. The new platform was designed to optimize the Credit Union’s online experience while growing its digital offerings.
The platform streamlines the account opening process by enabling images needed for identification verification to be uploaded - providing for online signature submission and facilitating electronic document delivery. St. Anne’s fully supports the new online account opening process with member service assistance and a save-and-resume function that follows consumers across devices. For more information on the new service, please visit our online services page. “At St. Anne’s, we focus on building strong relationships by actively listening to our members’ wants, needs, and desires,” said Lee Zupkofska, Vice President of Marketing at St. Anne’s. “Our new online account opening capabilities are a direct response to what we heard from our focus groups and feedback on how we can make banking easier – especially relevant today where remote banking is crucial.” Robin Levesque, St. Anne’s Vice President of Branch Administration noted, “Today’s consumers have come to expect a better remote banking experience and we’re excited to deliver an account opening process that is simple and convenient.”
The new online account opening platform augments St. Anne’s existing suite of digital banking services that include online and mobile banking with fingerprint and face ID login, easy alert notification capability, text message banking, electronic bill payment services, as well as mobile deposit capabilities. St. Anne’s also offers mobile wallet access with Apple Pay®, Google Pay®, and Samsung Pay®; and Zelle®, a fast, easy and secure way for members to send or request money. Additionally, St. Anne’s provides members with added protection for their debit cards through the CardValet® app, which includes features such as the ability to lock or unlock their debit card for purchases, select geographic locations where their card can be used, and set transaction spending limits.
"The benefits of our local community banking model, coupled with the technology of online account opening gives us a unique competitive advantage and fulfills our commitment to provide big bank capabilities with a local credit union touch. As an organization, we are committed to making our services available to our members when and where they want them. Convenience is becoming a service standard, and our new platform speeds up and streamlines account opening, further improving the member experience and enhancing our ability to serve our members,” said Eileen Danahey, St. Anne’s President & CEO. “We’re proud to be able to provide a better banking experience that makes the account opening process better and puts our members first.”
To learn more about St. Anne’s convenience services and products, visit our online-services page or call 1.877.STANNES.
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ST. ANNE’S OFFERS HOMEOWNERSHIP ASSISTANCE
3/26/2020
St. Anne’s Credit Union recognizes the various challenges associated with purchasing a home and can provide assistance as an approved member of the Federal Home Loan Bank of Boston’s (FHLB) Equity Builder Program – a program assisting local income-eligible homebuyers in purchasing homes they intend to occupy as their primary residence.
The program offers grants for down payment and closing costs, rehabilitation costs associated with acquisition, and reimbursement of homebuyer counseling programs. Borrowers are eligible to receive up to $15,000 on a first-come, first-served basis, and must complete a homebuyer counseling program and have individual or household income equal to or below 80 percent of the Housing and Urban Development (HUD) median income based on their future address to qualify for assistance.
Since 2003, the Equity Builder Program (EBP) has awarded more than $38.5 million in EBP funds assisting 3,479 income-eligible households in purchasing a home. Eligible to receive up to $150,000 for 2019 depending on the availability of funds, St. Anne’s Credit Union can offer members the assistance they need to make homeownership a reality.
Restrictions apply. Please contact an originator or stop by one of our branches to learn more.
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St. Anne’s LENDS OVER $3M TO CISCO NEW BEDFORD
1/24/2020
St. Anne’s Credit Union, a single source for financial services, financing options and resources for individuals and businesses, announced that they are financing over $3M to make Cisco New Bedford a reality. St. Anne’s will be providing customized financing options in their partnership with Stephen Silverstein, owner of The Black Whale, founder of Not Your Average Joe’s and owner of Not Your Average Joe’s Dartmouth. New Bedford Mayor Jon Mitchell states that Cisco New Bedford will be the largest investment in a restaurant project in the city's history.“Cisco New Bedford is a fantastic project in a prime location on the waterfront in New Bedford’s South End. Residents of Greater New Bedford are eagerly awaiting the completion of the restaurant, which will be a destination in its own right. Stephen Silverstein is an accomplished restaurateur and businessman with an exceptional track record of growth in the industry; he is committed to Greater New Bedford with his most recent investments, and we are looking forward to his latest endeavor,” said Mayor Jon Mitchell. St. Anne’s will lend nearly $5 million to assist Silverstein fund his three restaurants in the New Bedford area.
Carlos DaCunha, St. Anne’s Senior Vice President and Chief Lending Officer, says “we are committed to providing our clients with flexible financing offers, leading technology and innovative products to help run their businesses more efficiently and to grow. Stephen Silverstein is a long-standing partner with a reputation of innovation and ambition. He set out to succeed in the restaurant business at a young age and grew Not Your Average Joe’s to a 6-state restaurant company serving nearly 5 million guests a year. From impeccable attention to detail to relentless dedication to quality, Silverstein and the Credit Union are a great fit.St. Anne’s is proud to offer quick turnaround times because of our streamlined process of working with one experienced lender and decision-maker from start to finish. Our processes and approvals are all performed in-house, which results in expedient and straightforward approvals. As a dedicated financial partner, St. Anne’s clients can count on our experience and knowledge to help keep their businesses on the path to success. From timely, customized service to our hands-on approach, our commercial lenders work hard to understand each clients’ industry, needs and opportunities. As we are aware from our financing of the Dartmouth Not Your Average Joe’s restaurant and The Black Whale, the Silverstein name is associated with top-notch quality, service and a long history of success. We are proud of our partnership with Steve as he moves forward to revitalize a historic part of New Bedford, bringing a very exciting restaurant and outdoor entertainment venue to one of the communities we serve this year.”
Stephen Silverstein stated, “The Commercial Lender I am working with, Linda Morad, is knowledgeable and resourceful and clearly has my best interest in mind. The entire commercial team has been incredibly invested in my success from the moment I started this journey. Not only do you receive prompt attention, you’re offered competitive pricing by an experienced lending team that provides quick turnaround times. I’ve banked with the big banks and find St. Anne’s refreshing. St. Anne’s offers a friendly, hometown feel with big bank capabilities. Similar to the way I’m proud to craft a unique dining experience in my restaurants by honing each element, St. Anne’s expertly formulated a solution to help meet the needs of my diversified business portfolio.”
To learn more about how St. Anne’s can help your business thrive, visit the Credit Union’s dedicated lending office at 585 State Road in Dartmouth or call 508.730.LOAN.
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St. Anne’s offers assistance to businesses through the mass save financing for business Program
1/21/2020
St. Anne’s Credit Union has been selected as a Mass-Save approved lending institution through the Mass Save Sponsors’ Financing for Business Program, enabling them to offer loans from $5,000 to $500,000 to assist with the installation of qualified energy-efficient improvements in business facilities.
A few benefits of financing an eligible energy efficient project include: saving energy and money on monthly energy bills, lower environmental impacts, enhancing work environments and receiving incentives from the Sponsors of Mass Save for qualified energy efficiency projects. Eligible improvements include, but are not limited to, high efficiency lighting and controls, HVAC equipment, motors and drives, and custom energy efficiency projects.
“Our experienced, local lending team is adept to tailoring flexible, cost effective finance options to complement our commercial clients’ unique situations. We’re proud to offer quick turnaround times based on our local decision-making and becoming an approved Mass-Save lending institution for businesses further enables us to help our clients grow their businesses,” said Carlos DaCunha, Senior Vice President & Chief Lending Officer of St. Anne’s Credit Union.
To learn more about this program, contact Richard Kane, Vice President – Commercial Lending Manager at 508.730.LOAN.
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ThE southcoast's very first bed-building event with local southern mass. credit unions a success
10/31/2019
On October 29 nearly 80 volunteers from 15 local credit unions joined forces and built 40 beds for local children in need. As part of the Cooperative Credit Union Association’s (CCUA) Southern Massachusetts Chapter, St. Anne’s Credit Union was overjoyed to host the SouthCoast’s very first bed-building event to benefit the Massachusetts Coalition for the Homeless’ (Coalition) A Bed for Every Child initiative. The Coalition specifically works to bridge the gap in children’s lives and collaborates across the state to provide free and newly-crafted beds (and a place to dream) for children with limited access to necessities. Volunteers spent the afternoon assembling, sanding and staining new beds that Catholic Social Services will distribute locally in Fall River.
A special thanks to the all participating credit unions who volunteered to make this event a success: Goldmark Federal Credit Union, New Bedford Credit Union, PCT Federal Credit Union, Santo Christo Federal Credit Union, Southern Mass Credit Union, St. Anne’s Credit Union, St. Anthony of Padua Federal Credit Union and Taunton Federal Credit Union.
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St. Anne’s recognized as best financial institution third year in a row
7/26/2019
St. Anne’s Credit Union is pleased to announce that they have once again been recognized as Best Financial Institution in SouthCoast Media Group’s Best of the Best Awards for the third year in a row.
The Best of the Best Awards are voted annually by community members in the SouthCoast and in 2019, there were nearly 13,400 votes cast in 140 categories. “St. Anne’s is once again honored and humbled to receive this award,” stated Eileen M. Danahey, President and CEO. “It speaks volumes about our dedication to deliver outstanding customer service, offer personalized products and services and to our commitment to the communities within our footprint. We’d like to thank our valued members and dedicated employees for helping us achieve this award.”
Since 1936, St. Anne’s has been committed to make managing your money easy. To learn more about how St. Anne’s can help you achieve your financial goals, visit our homepage or call 1.877.STANNES.
Shown in the picture is St. Anne’s Senior Vice President and Chief Lending Officer, Carlos DaCunha and Marketing Specialist, Kelly Baldwin accepting the Best of the Best award.
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