CAMBRIDGE, MASSACHUSETTS, October 7, 2004…East Cambridge Savings Bank donates $25,000 to Cambridge Family and Children’s Service’s (CFCS) capital campaign.

Arthur C. Spears, president & CEO, East Cambridge Savings Bank and Susan Lapierre, vice president East Cambridge Savings Bank present check to Denise K. Maguire, executive director, Cambridge Family and Children's Service, for Capital Campaign. (Photo credits - ECSB staff)

East Cambridge Savings Bank has long been a supporter of CFCS. Arthur C. Spears, president and chief executive officer of East Cambridge Savings Bank, states, “For over 130 years, CFCS has been providing valuable services that improve the quality of life for members of our community and we are pleased to be able to support their good work.” For its generosity, East Cambridge Savings Bank will receive lasting recognition, named as a donor of the executive boardroom.

Denise K. Maguire, executive director of CFCS notes, “East Cambridge Savings Bank has been around for 150 years and for much of our 130 years, CFCS has been doing business with the bank as well as benefiting from its consistent and generous charitable support and sponsorship of our work in the community. We are really pleased that our new agency home is right in the same neighborhood where East Cambridge Savings Bank has such a strong presence and impact”.

During the last ten years alone, CFCS doubled the number of clients served, resulting in increased demands on space. CFCS searched for and found a permanent home with plenty of program space to serve the needs of its growing client base and launched its first ever-capital campaign, “Bringing Hope Home for the Future,” with a goal of $1,750,000. The campaign’s three components include the purchase and renovation of a new facility for the agency, the purchase and start-up costs for a transitional housing program for teenage boys, and the creation of an Emerging Needs Fund to support new program initiatives.

East Cambridge Savings Bank, a mutual savings bank established by Massachusetts charter in 1854, has full-service locations in Cambridge, Belmont, Somerville and Waltham, and maintains an Educational Training Facility at Cambridge Rindge and Latin School. The Bank is observing its 150th anniversary this year.

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