Banks Team Up for Rebuilding Cause

Banks in Northwest Arkansas typically compete tooth and nail. But at least seven local banks are working together with hammers and nails to get a relatively new nonprofit off the ground.

Rebuilding Together of Northwest Arkansas was founded locally last summer by Cynthia Coughlin, an active Bentonville philanthropist and wife of Wal-Mart Stores Inc. Executive Vice President Tom Coughlin. The group’s mission is to preserve and revitalize houses for low-income home owners, primarily the elderly, disabled and families with children.

RTNWA’s board did one mostly landscaping project last year, but began its first major repair and improvement project on April 26.

The Rogers organization plans to add insulation, handicapped-accessible ramps and other needed repairs, to four homes this spring. Debbie Potochnik, RTNWA’s executive director, said the group hopes to complete eight or nine projects this year and eventually take on one per month.

Arkansas National Bank N.A. of Bentonville made a $150,000, three-year commitment to RTNWA. Other Bank sponsors include Bank of Arkansas, Simmons First Bank of Northwest Arkansas, The Bank of Fayetteville, Arvest Bank Group Inc., First Security Bank and Region’s Bank. Wal-Mart and the Northwest Arkansas Homebuilders Association are also sponsors.

The United Way of Benton County also gave the group a $20,000, two-year grant.

Joe Mills, CEO of Simmons First, chairs RTNWA’s board.

“I just could not pass this up,” Mills said. “This is truly a great cause. We’re talking about helping people who are predominantly low-income, elderly or disabled. These are people who have paid taxes, fought in wars, and they deserve a safe, warm home.”

Corporations sponsor one refurbishing project each. Potochnik said the projects can vary dramatically in scope, but they can range from $5,000-$10,000. They money goes to buy supplies and hire skilled tradesmen, although the board also takes an active physical role in the work.

Rebuilding Together, based nationally in Washington, D.C., has 260 affiliates. Cynthia Coughlin is on the noprofit’s national board.