HOLYOKE, Mass. (WWLP) – Home heating oil costs are expected to spike as much as 60 percent this coming winter.

PeoplesBank has donated $45,000 to three regional non-profits providing help to struggling families. PeoplesBank Executive Vice President Matthew Bannister told 22News that he’s cautioning against leaving people in need out in the cold financially this winter.

“These are difficult times. There’s inflation, there’s uncertainty in the economy, and there are lingering effects from the pandemic. I think home heating and of course, home heating costs spiking up, you may have just enough to get by right now, and it’s an unplanned expense that you’re not able to cope with.”

PeoplesBank has allocated the home heating assistance to Hampden County Valley Opportunity Council, Hampshire County Community Action for Pioneer Valley, and the Hartford Area, Operation Fuel.