CAMBRIDGE, MASSACHUSETTS, March 18, 2005 --- East Cambridge Savings Charitable Foundation has donated $10,000 to the Somerville Homeless Coalition (SHC). The funds will be used for the SHC’s Better Homes initiative, which focuses on moving families and individuals quickly out of homelessness and into permanent housing. The donation came from a commemorative gift of "affordable housing funds" presented by East Cambridge Savings Bank’s Board to the Charitable Foundation in recognition of the Bank’s 150th Anniversary.

"We are proud to contribute to an organization with such high standards for improving the lives of people in the Somerville community," said Arthur C. Spears, president and chief executive officer of East Cambridge Savings Bank, "and pleased to hear that the Somerville Homeless Coalition was able to use our donation to leverage so much more from the federal government."

The Somerville Homeless Coalition has taken on the challenges of creating long-term solutions to homelessness by focusing on permanent housing. The Better Homes program will place qualified families and individuals in the Coalition’s leased apartments where they will receive supportive services from caseworkers. These families and individuals will take over the apartment lease once they can demonstrate that they can be independent.

According to SHC’s Executive Director, Mark Alston-Follansbee, "The Somerville Homeless Coalition is grateful for the support East Cambridge Saving Bank is giving to our new permanent housing program, Better Homes. Our mission is to abolish homelessness in our community. I am convinced that the only way we will achieve our goal is to create partnerships with business, government, non-profits, and our neighbors to find real solutions to this national disgrace. And the beauty of this donation is that it allows us to leverage over $110,000 from the Department of Housing and Urban Development; this is truly a welcome gift."

East Cambridge Savings Bank, incorporated in 1854, provides both businesses and individuals with a full line of banking services. The Bank is headquartered in Cambridge with additional full service offices in Cambridge, Belmont, Somerville, and Waltham, MA, and an educational training facility at Cambridge Rindge and Latin School, Cambridge, MA. Through East Cambridge Savings Charitable Foundation, thousands of residents in our communities have received support. East Cambridge Savings Bank is observing its 150th year. Visit www.ecsb.com for more information.