SOMERVILLE, MASSACHUSETTS, November 8, 2006 — East Cambridge Savings Charitable Foundation recently granted donated $10,000 to the Somerville Homeless Coalition (SHC). The funds will be used to support the SHC’s programs which focus 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 in 2004 by East Cambridge Savings Bank’s Board to the Charitable Foundation in recognition of the Bank’s 150th Anniversary.

“The Somerville Homeless Coalition is a great group of people doing great things and 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, “It is very rewarding to hear that the Somerville Homeless Coalition is able to use our donation to leverage additional funding from the federal government.” Department of Housing and Urban Development.” For each dollar donated, the SHC is able to leverage over $11.00 from HUD.

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 when where they start receivingwill receive supportive services from caseworkers. These families and individuals will take over the apartment lease once they can demonstrate that they can be independent.

SHC’s Executive Director, Mark Alston-Follansbee states, “I worry that people see homelessness as a negative and intractable social problem that can’t be solved. But we can end homelessness. The solution to homelessness is a home. Over the past five years the Somerville Homeless Coalition has opened 50 apartments for our clients, with 10 more coming this fall. We couldn’t do this without the support of our community partners like the bank. East Cambridge Savings Bank is a partner in the fullest sense; they bring presents to our clients during the holidays, employees volunteer their time at our events, and the Bank is very generous in supporting our housing programs. With their donations in support of our Better Homes program, we are able to leverage 10 times the gift from the federal government. East Cambridge Savings Bank is part of the solution when we offer a home to the homeless.”