Every year, the East Cambridge Savings Charitable Foundation awards two $1,500 scholarships to graduating seniors at the following high schools: Arlington High School, Belmont High School, Cambridge Rindge and Latin High School (CRLS), Cambridge Community Learning Center, Chelsea High School, Malden High School, Medford High School, Somerville High School, Waltham High School, and Woburn Memorial High School. The Foundation also awards two $2,000 scholarships to graduating seniors who complete the school bank program at Rindge School of Technical Arts at CRLS. Over the past 25 years the Foundation has awarded just over a quarter of a million dollars in scholarships.

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