Articles from Cambridge Savings Bank

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $7 billion in assets, today announced the opening of its newest branch in Dorchester, Massachusetts. The official opening of the new branch at 734 Dudley Street marks the Bank’s expansion to 19 physical locations across the region.

Cambridge Savings Bank (“CSB”), a full-service mutual bank with a customer-first approach and $7 billion in assets, today announced that its Asset-Based Lending (“ABL”) team has provided a $5 million revolving line of credit to Global Printing & Packaging (“GPP”). Headquartered in Marlborough, Massachusetts, GPP is a longstanding provider of high-quality consumer product packaging and logistics solutions, offering global manufacturing at scale.

Cambridge Savings Bank (“CSB”), a full-service mutual bank with a customer-first approach and $7 billion in assets, today announced that its Asset-Based Lending (“ABL”) team has provided a $10MM revolving line of credit to Belle Brands, a portfolio of personal care companies of Windsong Global and a small group of co-investors. In January 2024, Windsong acquired Pipette, a leader in clean baby personal care essentials, and JVN, a brand renowned for celebrating individuality and artistry in hair care. Following these acquisitions, Windsong launched Belle Brands and appointed Teresa Lo, a seasoned beauty industry expert with 20 years of experience, as president to guide and expand the growth of both brands.

Cambridge Savings Bank (“CSB”), a full-service mutual bank with a customer-first approach and $7 billion in assets, today announced that its Asset-Based Lending (“ABL”) team has provided a $20M revolving line of credit to Arctaris Impact Investors, LLC (“Arctaris”). Based in Wellesley, Massachusetts, Arctaris will use the financing to expand its support for profitable, high-growth businesses in underserved communities across the U.S.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $7 billion in assets, today announced that its Asset-Based Lending (ABL) team has provided a new credit facility to Fabrizia Spirits, a leading citrus spirits manufacturer in the United States. The customized lending package will enable the company to execute its strategic growth plans, expand distribution and enhance production efficiency through longer, more cost-effective production runs. Fabrizia Spirits plans to use the financing to scale its operations to meet rising consumer demand, while maintaining the high-quality standards for which the brand is known.

Cambridge Savings Bank (CSB), a 190-year-old, full-service community mutual bank with a customer-first approach and over $7 billion in assets, today announced that its digital banking division, Ivy Bank (“Ivy”), has exceeded $1 billion in deposits and added over 14,000 customers nationally. Ivy, which offers digital access to savings products, has become known for its user-friendly digital experiences, efficient onboarding, and outstanding customer service. In addition, its bespoke financial empowerment tools allow customers to easily create and manage budgets, monitor credit, and more.

Valiant Energy Solutions, a trusted name in energy services with a 60-year legacy throughout Connecticut, is excited to announce a strategic partnership with Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $7 billion in assets. This partnership will enable Valiant Energy to expand its portfolio, offering the latest innovations in total energy solutions, including HVAC, plumbing, electrical, and sustainable fuels, for both residential and commercial customers.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $7 billion in assets, is pleased to announce that Daniel Carey has been promoted to Senior Vice President, Chief Financial Officer (CFO). Previously the Head of Finance and Accounting, Carey has been with the bank since 2022 and has nearly 16 years of progressive experience working in the banking and accounting fields. In his new role, Carey will oversee a wide array of financial functions, providing leadership, financial reporting guidance, and financial compliance while positioning the bank for continued growth and success.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $7 billion in assets, today announced that Ian Brandon has been promoted to Executive Vice President, Chief Commercial Banking Officer (CCBO).

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and nearly $7 billion in assets, today announced that Kevin McGuire, previously the Chief Information Officer (CIO), has been appointed as the new Chief Operating Officer (COO), effective immediately. McGuire succeeds Michael Gilles, who is retiring after a distinguished career with the bank. In his new role, McGuire will assume responsibility for driving the bank's operational efficiency and aligning its activities with the bank’s strategic goals​. McGuire’s areas of oversight will include strategic planning, capital management, balance sheet strategies, risk and investment management, and more.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and nearly $7 billion in assets, is pleased to announce that Angela Conti will be joining the leadership team as Head of Consumer and Small Business Banking. In her newly appointed role, Conti will be responsible for managing profit and loss (P&L) operations and implementing tactics that drive the strategic growth of CSB’s Consumer and Small Business divisions, with oversight for both deposits and lending.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and nearly $7 billion in assets, today announced that it has provided Chesterbrook Community Foundation with a $25,000 donation to support the renovation of the Chesterbrook Community Center. Located in the 100-unit Chesterbrook Gardens public housing development, the gift to the community center is expected to benefit 300 families via mentoring, academic support, and enrichment in structured after-school and evening programs.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that its Corporate Banking team has provided Fair Haven Community Health Care (Fair Haven CHC) with a combined $26.1 million in loans to support its expansion. CSB has extended a $20 million, three-year bridge loan and $6.1 million, 10-year construction-to permanent loan. Based in New Haven, Connecticut, Fair Haven CHC provides low-income families with accessible, high-quality medical and dental care, regardless of their ability to pay.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and nearly $7 billion in assets, today announced that its Asset-Based Lending (ABL) team has provided a $10.5 million credit facility to Stauer, a direct marketing retailer offering consumers affordable jewelry, watches, accessories, and collectibles with a satisfaction guarantee. Stauer will leverage the financing to repay its outstanding revolver and term loan balance, finance ongoing working capital needs, and support daily operations.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and nearly $7 billion in assets, today announced that it was the lead bank in a $45 million participation loan for Modera Wealth Management, LLC (Modera)’s transaction with Parsec Financial Management, Inc (Parsec). Led by CEO Tom Orecchio, CFA®, CFP®, ChFC®, AIF®, Modera is a fee-only, fiduciary financial advisory firm focused on providing clients with a high level of care and attention.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and nearly $7 billion in assets, today announced that it has hired Ryan Bailey as the bank’s new president and chief executive officer (CEO).

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that it has provided the Melrose Affordable Housing Corporation (MAHC) with a 30-year, $500,000 commercial mortgage loan. The MAHC is a local nonprofit organization committed to establishing safe and affordable housing options for low- and moderate-income individuals who desire to live in Melrose.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $6 billion in assets, today announced that it has provided a small business administration (SBA) term loan to restaurateur Tom Schlesinger-Guidelli. The loan will be used to fund construction and related startup costs for his new venture, Hook + Line, a sit-down, full-service New England seafood restaurant and H + L Market, a fast-casual seafood market.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, today announced that its small business lending team provided a $250,000 loan to Enhanced Mechanical Contracting, LLC. Based in Boston, Enhanced Mechanical Contracting provides customized HVAC services to facilities across Massachusetts and is the first 100 percent female-owned union mechanical contracting company in the state.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $6 billion in assets, today announced the appointment of Michael Richardson to the role of Vice President, Relationship Manager, on the Asset-Based Lending (ABL) team. Richardson will be responsible for managing several of the bank’s ABL relationships, while leveraging his vast network to identify and close on new lending opportunities. Additionally, he will support the team in crafting custom solutions to assist businesses with financing needs to support growth, recapitalization, working capital, and/or an acquisition, merger, or buyout.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that its Asset-Based Lending (ABL) team has provided a credit facility to Bigbelly Solar, LLC (Bigbelly), the global leader in waste solutions for public spaces. Headquartered in Needham, Massachusetts, Bigbelly manufactures cost-effective products that make any space better – improving quality of life, operational efficiency, and sustainability.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $6 billion in assets, today announced it has launched the Cambridge Savings Scholarship Fund. The $100,000 grant for Scholarships and Small Hardships Awards will be available to students currently enrolled in their second year at Benjamin Franklin Cummings Institute of Technology (Franklin Cummings Tech), a technical college and minority serving institution (MSI) that delivers transformative technical and trade education that leads to economic advancement and produces the highly trained and diverse tech talent needed in our economy today.

Cambridge Savings Bank (CSB), a nearly two-century-old, full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that after two years in business its digital banking division, Ivy Bank (“Ivy”), has exceeded $530 million in deposits and added over 6,600 customers nationally. Ivy, which offers access to higher-interest savings products, has become known for its user-friendly digital experiences, fast onboarding, and personalized service. In addition, its sophisticated resources allow customers to easily create and manage personal budgets, monitor credit, and more.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that it has provided $2.6 million in financing to support the acquisition and transition of ownership for White Wood Kitchens, the well-known kitchen and project management company in Cape Cod, MA, to former Information Technology leader, Anton Emelianov. With locations in Sandwich and Pembroke, MA, White Wood Kitchens sells cabinets and countertops to residential and commercial clients, along with local and regional builders, primarily in Southeastern Massachusetts.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $6 billion in assets, is pleased to announce its recent approval of a $100,000 grant in support of the Cambridge Equity Fund. This initiative was launched by the Sustainable Business Network (SBN), an established 501(c)(3) organization that aims to make business a vehicle for social, environmental, and economic change. The Cambridge Equity Fund, which operates as a program within SBN’s Cambridge-Somerville Black Business Network (CSBBN), will offer essential resources that seek to support and uplift minority-owned businesses in the local community.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that it has increased the Commercial and Industrial (C&I) revolving line of credit for First Boston Construction Holdings, LLC (FBCH) to $60 million. Based in Quincy, MA, FBCH is an affiliate of The Grossman Companies and extends private loans to builders, developers, and real estate investors in New England with a focus in greater Boston.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $6 billion in assets, today announces the appointment of Tony Macchi to the role of Senior Vice President, Digital and Products. Macchi will spearhead the bank’s ongoing digital transformation, ensuring that its online and mobile solutions help customers make progress towards their goals through easy-to-use products and services.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that it has invested $1 million in Healthy Neighborhoods Equity Fund II (HNEF II). Developed by Massachusetts Housing Investment Corporation (MHIC) and Conservation Law Foundation (CLF), HNEF II doubles the size of the first Healthy Neighborhoods Equity Fund (HNEF I), created to finance inclusive mixed-use developments near public transportation that offer retail, housing, and social services to support healthier communities.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $6 billion in assets, today announced the appointment of Carlos Osornio to the role of Senior Vice President, Head of Operations and Service. In his new position, Osornio will be responsible for streamlining and managing operations across multiple business lines including deposit and loan operations, payment services, treasury management, and client service.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that its Asset-Based Lending team (ABL) provided a senior credit facility to BFC Solutions (BFC), a national provider of commercial HVAC and refrigeration filter replacement and related routine preventative maintenance services. Headquartered in Nashville, TN, BFC is the largest national, self-performing, planned preventative maintenance company in the U.S.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that it has provided $15.3 million in financing to ROC USA® since 2021. Headquartered in Concord, NH, ROC USA is a nonprofit organization on a mission to make quality resident ownership viable nationwide and to expand economic opportunities for homeowners in manufactured (mobile) home communities.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that it has provided $10 million in financing to American Gas Products (AGP), a full-service national industrial and specialty gas supplier. The capital will help finance new equipment, leasehold improvements at AGP’s new headquarters, and refinance existing debt.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that it is supporting Allen & Gerritsen (A&G) in its effort to reimagine its work environment with a $1 million equipment line of credit. Creative and entrepreneurial in nature, Allen & Gerritsen is an independent agency specializing in creative communications, customer experience (CX), public relations and media and analytics. The firm currently has locations in Boston and Philadelphia.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that it has provided $5.3 million in lending to support the transition of ownership of Formaggio Kitchen, a regional chain of gourmet food stores specializing in cheese, to longtime employee Julia Hallman. After working for Formaggio Kitchen for 15 years as a senior buyer and general manager, Hallman successfully purchased the franchise in January 2023.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, today announced that its Asset-Based Lending team provided an $8.8 million credit facility to Cascade School Supplies. Based in North Adams, MA, Cascade retails a wide range of educational materials to public schools in the Northeast, while also meeting the office supplies and furniture needs of various other organizations.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, today announced it is the lead bank in a $93 million construction loan to support the Innes Redevelopment Project, with the development of two new multi-purpose buildings in Chelsea, MA. The project is being led by co-developers John M. Corcoran & Company and Joseph J. Corcoran Company, in partnership with real estate private equity firm Marcus Partners. The redevelopment team will utilize the capital to replace the eight existing buildings at the Innes Apartments constructed in the 1950’s and build a 350,000 square-foot mixed use community in its place.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, today announced that it has provided $16 million in funding to support the expansion of Tropical Products, a private label manufacturer of personal, pet, and home care products. Based in Salem, Mass., the company manages the development of products for a variety of consumer brands that are sold by Walmart, Target, PetSmart, Petco, Amazon, and many other retailers.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, today announced that its Asset-Based Lending team provided a $4 million revolving line of credit to Artist & Craftsman Supply (A&C), a national provider of arts and crafts supplies headquartered in Portland, Maine. With 22 retail locations across the United States and a strong online presence, A&C is one of the largest art material suppliers in the country.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced it has provided a loan to finance the rollout of an Employee Stock Ownership Plan (ESOP) for Metro Walls, a full-service commercial framing, drywall, and acoustical company with locations across New England.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced its sponsorship and support of the Mass Black Expo (MBE) scheduled to take place at the Boston Convention Center on Friday, September 23rd. Organized by the Black Economic Council of Massachusetts (BECMA), the MBE is a one-of-a-kind annual event that features Black businesses, thought leaders, and allies engaged in helping to close the racial wealth gap in communities across Massachusetts.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced it has provided construction loans totaling $84.5 million to Strategic Land Ventures (SLV), a vertically integrated real estate investment management and development firm. With an office in Needham, Mass., SLV specializes in identifying, permitting, capitalizing, and constructing multi-family residential properties with a focus in eastern Massachusetts.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced that its Asset-Based Lending team provided a revolving line of credit to Crave Better Foods, LLC, a provider of premium ice cream cookie sandwiches and frozen novelties located in Stamford, CT. In collaboration with private equity firm, Cannon Capital, the company acquired the Original Chipwich trademark in 2017 and has since updated the ingredients and been distributing the product in stores across the country.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced that its Corporate Banking team provided new client, Fulfillment America, Inc, with a $6.5 million financing package to support its next phase of growth. Headquartered in Billerica, Mass., Fulfillment America is a national six sigma fulfillment organization that provides B2C and B2B fulfillment services, including warehousing, printing, kit assembly, logistics, and more.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced it has provided a $61.7 million construction loan to The Michaels Organization (Michaels), a national leader in residential real estate with more than 175,000 residents across 37 states, the District of Columbia and the U.S. Virgin Islands.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced that its Corporate Banking team led the financing for the ground-up construction of Lovell Arena with a $20 million participation loan as part of the $30 million project. The state-of-the-art facility, based in Rockland, Mass., is scheduled to be completed in July and will include three ice rinks accommodating 1,500 spectators over nearly 120,000 square feet. It will also feature a gym, pro shop, 7,000 square foot restaurant, bowling, and golf simulators.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, announced that its Corporate Banking team provided Atlantic Equipment with $4.3 million in funding to support its expansion across the eastern seaboard. Headquartered in Revere, MA, the company is an equipment distributor that specializes in the sale, service and rental of safety, roofing, and construction equipment.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced that its Commercial Lending team provided a $2.1 million commercial real estate mortgage and construction to permanent loan to acquire and renovate a new building in Hingham, Massachusetts to a special purpose entity controlled by Stephanie Hernan, President of Yankee Trader Seafood (YTS), and her daughter, Emma Hernan, President of Emma Leigh & Co., in addition to a $300,000 working capital line of credit.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced that its Commercial Lending team provided a $26 million financing package over the life of the relationship, including both a refinance of existing debt and new debt, to Modera Wealth Management, LLC (MWM) and individual members of its ownership group. The financing will enable MWM — a fee-only, independently owned and operated registered investment advisor (RIA) and financial planning firm — to accelerate its expansion along the East Coast, improve client services and offerings, and deploy a strategy to welcome more of the firm’s staff into its ownership structure.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced applications are now open for its 31st annual scholarship program. Since the program’s inception in 1992, the Cambridge Savings Charitable Foundation has granted more than $1.4 million in scholarships to graduating high school seniors in honor of two former CEOs: Robert M. Wilson and Kevin J. Fitzgerald.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced the launch of its Small Business Financial Education Program. Led by CSB’s Financial Education Manager, Philip Mustone, the program will provide small businesses with information on best practices related to marketing, cash flow, available financing options and additional topics that can contribute to a company’s overall financial wellness.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced that it has received an investment grade rating from Kroll Bond Rating Agency (KBRA), a global full-service rating agency. CSB earned a Deposit rating of BBB+, Senior Unsecured Debt rating of BBB+, Subordinated Debt rating of BBB, Short-Term Deposit rating of K2 and Short-Term Debt rating of K2.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announces the appointment of Kevin McGuire to the role of Chief Information Officer.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, announced that its Commercial Lending team provided a lending package to facilitate TransCOR Information Technologies’ business succession plan. Retiring from his post as president, TransCOR’s founder recently sold the company to long-time employee, Derek Biersteker, who assumed the leadership role. CSB supported TransCOR’s acquisition strategy with a lending solution that included two Small Business Association (SBA) term loans totaling $2.1 million and a non-SBA line of credit for $2.5 million.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced that its Asset-Based Lending team provided a $9 million revolving line of credit to Auto Advance, LLC — an auto finance and loan company located in Wayland, Massachusetts. The working capital supports its plans for expansion following the transition of ownership to the company’s President and CEO, Jorge Vinha, who is now also the majority shareholder.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, announced that its Commercial Lending team offered a lending solution to support the growth of LAB Medical Manufacturing with acquisition financing for a new manufacturing facility in South Carolina. Headquartered in Billerica, Massachusetts, LAB Medical is a device manufacturer that produces precision surgical equipment for multibillion dollar organizations.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced that its Asset-Based Lending team provided a $4M credit facility to GWA Auto Parts (GWA), an importer, distributor and online retailer of automotive aftermarket parts, to support working capital investments as the company pursues strategic growth through catalog expansion and M&A efforts.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach, announced that its Asset-Based Lending team has closed a custom financing package for Medical Record Associates, LLC (MRA), a leading provider of medical coding, auditing and cancer registry services. The Wellesley, MA-based, MRA has been working with hospitals nationwide since 1986 assisting with the non-clinical side of healthcare delivery.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach, announced that its Asset-Based Lending team provided a revolving line of credit to Noreast Outdoorz, LLC, an outdoor sporting and recreational equipment supplier based in Pocasset, Massachusetts. With a strong presence in the Northeast, Noreast Outdoorz is solely focused on designing high-quality products for outdoor activities.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, unveiled its personal finance visualization tool, Money Management, to add to the suite of digital, user-friendly resources available to CSB and Ivy Bank customers.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, announced that its Asset-Based Lending team has extended an $8 million credit facility to The Ockers Company, an information and communications technology reseller located in Brockton, Massachusetts.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, is pleased to announce Michael Bonsey has joined the bank as Chief Credit Officer. Bonsey’s charge is to maintain the standing of the bank’s credit portfolio, continue the development of its credit policies and procedures and uphold the quality of its lending portfolio.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, announced the opening of its newest branch in Somerville, MA. Located at 475 Foley Street in Assembly Row, CSB opened the doors to its 18th physical location on Tuesday, August 17th.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, announced that its Asset-Based Lending team has added on to an existing credit facility extended to Purity Services, Inc., a full-service healthcare linen rental and commercial laundering company based in New Bedford, Massachusetts. In July 2020, CSB committed $4,350,000, and has closed an additional $6,500,000 with the full financing package totaling $10,850,000.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, is pleased to announce the launch of Ivy Bank (Ivy), a digital-only division of CSB that offers user-friendly, high-interest rate products, exceptional digital experiences, and personalized service. Backed by CSB, an FDIC insured1 financial institution with a 187-year history of financial stability and success, Ivy provides competitive rates for online savings accounts and certificates of deposit (CDs), and human-centric customer support to help consumers work towards reaching their financial goals.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced it has provided a construction loan and line of credit to Catholic Memorial, a college preparatory school for boys in West Roxbury, MA. The loan will contribute to the school’s $11M renovation project which includes the development of the Yawkey Center for Integrated and Applied Learning (CIAL). The CIAL is the largest capital improvement project in the history of Catholic Memorial and features five cutting-edge studio classrooms, a series of collaborative workspaces, and a black box theater.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announces that its Commercial Lending team has extended financing to R.J. Forbes Painting Contractor, Inc. (R.J. Forbes) by securing a SBA 504 Loan through Bay Colony Development Corporation, a certified development company whose mission is to provide companies with fixed asset financing at affordable rates and reasonable terms.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced it has provided Capital Good Fund, a 501(c)(3) nonprofit organization based in Providence, Rhode Island, with a $750 thousand loan that will be used to fund small-dollar loans to low-to-moderate income families and individuals in Massachusetts. A U.S. Treasury-certified Community Development Financial Institution, Capital Good Fund’s mission is to create pathways out of poverty and advance a green economy through inclusive financial services.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announces a $500 thousand direct investment in Coastal Ventures V LP, a socially responsible venture capital fund managed by CEI Ventures. Located in Brunswick, ME, CEI Ventures, a subsidiary of Coastal Enterprises, Inc. (CEI), a non-profit community development financial institution (CDFI) and innovative leader in rural business development, is one of the only venture capital firms in the U.S. with a mission focus and proven strategy to help create jobs that offer basic benefits such as PTO, health benefits and retirement savings.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today celebrates that its operations center located in Waltham, MA, is now the first building in New England to earn Platinum level certification by the International WELL Building Institute (IWBI); the most prestigious designation given by the IWBI. The WELL Building Standard (WELL) is a global benchmark for advancing and certifying health and well-being in buildings. The operations center also achieved LEED Platinum certification for Core and Shell by the U.S. Green Building Council in July 2020. CSB is the first financial institution to earn both designations.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced it provided Worcester Envelope Company with an expanded credit facility, based upon the growth expected as Worcester becomes part of the performance driven marketing company Moore.