BIDDEFORD — Heart of Biddeford has joined forces with the Bangor SavingS Bank Buoy Local initiative to encourage residents to spend locally.

Heart of Biddeford, a downtown revitalization organization, and Bangor Savings, which has an office at 208 Main St., will promote the bank’s Buoy Local program, which uses gift cards to promote small businesses and encourage Maine residents to spend their money in stores, restaurants and other establishments owned by community members. The statewide program has generated $1 million that has stayed in Maine.

Bangor Savings purchased the statewide Buoy Local program in 2016. Kai Smith and Sean Sullivan founded the program in Portland.

Delilah Poupore, executive director of Heart of Biddeford since 2011, has been visiting downtown businesses with members of Bangor Savings Bank in an effort to encourage them to join the Buoy Local program. Heart of Biddeford was formerly affiliated with the Biddeford-Saco Buy Local campaign, which ended five years ago. 

So far, their efforts have encouraged 12 Biddeford businesses to join, connecting with 750 others statewide. 

“Every year at this time, schools and organizations will buy gift cards to say thank you, and it’s usually for a larger corporation like Dunkin’ Donuts,” Poupore said. “My hope is that they’ll start using these instead, where they can support a local business too. When you’re spending locally, you’re not giving your money away, you’re giving it to people.”

The program encourages consumers to buy a gift card that can be used at any business that elects to participate in the Buoy Local program. The card links to an accompanying app for smartphones with a list of participating businesses in respective areas, as well as highlighting deals that businesses may offer for those who use the Buoy Local card. Cardholders can also use an interactive map on the Buoy Local website (buoylocal.com) to find a business near them that accepts the card. 

If the business already banks with Bangor Savings, no fees incur. However, for those who don’t, a fee of 3 cents for every dollar spent is paid to the Buoy Local program, which, according to Poupore, goes back into the program to pay for marketing and the rewards program.

Heart of Biddeford hosted speakers from Bangor Savings at its monthly Biddeford Entrepreneurs Group on Dec. 20, answering questions about the Buoy Local program and explaining how it works.

“I don’t want to give away (what I’m getting people for) my Christmas presents, but I plan on buying some of these to give to people, and that was instead of getting a gift card to one place, they can look at the app and choose from all the different local businesses they can visit,” Poupore said.

As an incentive for cardholders, they receive one point for every dollar spent with the Buoy Local card. When a patron receives enough points, bonuses can be redeemed at participating business. This works to perpetuate the local spending from a one-time gift card transaction to a rewards system. Those who use the Buoy Local card can also elect to link the card with a bank account that will automatically draw with each purchase.

“Bangor Savings is the only financial institution in the United States that offers a program like this. It reaffirms our mission to support small businesses,” said Kate Frey, sales officer for Buoy Local, adding that anyone can participate in the program, not just Bangor Savings Bank patrons.

The only requirement for business participation is that it must have card-swiping capabilities. The Buoy Local gift cards work with all point-of-sale systems, so no additional equipment is needed.

“When you keep your money local and support independent businesses, everyone wins,” Frey said. 

Businesses that want wish to join the Buoy Local program can do so at buoylocal.com, or visit any Bangor Savings Bank location for more information. 

— Staff Writer Abigail Worthing can be contacted at news@inthecourier.com.