Cambridge Savings Bank Gifts $25,000 to Chesterbrook Community Foundation to Empower Local Youth

Funding will be used to revitalize community center that provides mentoring, academic support, and enrichment in structured after-school programs for low-income families

CAMBRIDGE, Mass.–(BUSINESS WIRE)–#SMBsCambridge 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.


The Chesterbrook Community Center is a vibrant, nurturing place where the children not only benefit from academic tutoring, but also engage in mentoring relationships with college students. In this environment, the children are motivated to do well in school, and they are given an opportunity to develop both their academic skills and their social skills. The community center will use the donation from CSB to renovate its outdoor space, which will provide additional opportunities for programming. These upgrades are designed to improve student safety, the program’s functionality, and the long-term sustainability of the Center’s mission.

“The Chesterbrook Community Foundation is pleased to partner with Cambridge Savings Bank to accomplish a milestone renovation,” said John Casassa, President of the Board of Directors at the Chesterbrook Community Foundation. “Revitalizing the Chesterbrook Community Center will undoubtedly enhance our program and provide a safer, more accommodating space for our students. We are fortunate to collaborate with Cambridge Savings Bank on this important project.”

Staffed by a part-time program director and Bentley University student volunteers, the community center offers a welcoming after-school space for nearly 40 kindergarteners through eighth graders. The director and volunteers provide homework help, academic enrichment, and healthy snacks. Activities also include arts and crafts, indoor and outdoor games, access to computers, and a well-stocked library of books.

“This substantial contribution will have a wonderful impact on the residents of Chesterbrook Gardens and the dedicated team at the Chesterbrook Community Foundation,” added Waltham Mayor Jeannette A. McCarthy. “Many thanks to Cambridge Savings Bank for its generosity and commitment to the Waltham community.”

There is an existing relationship between CSB and the Chesterbrook Community Foundation, as the bank has matched donations from multiple employees in recent years. Additionally, CSB provided a $5,000 grant in 2022 to fund new carpeting, furniture, and other minor upgrades. While the property is managed and maintained by Waltham Housing, the community center has not been remodeled since it was founded in 2008. With a consistent waiting list of students each year, the community center will have more space to provide programming that better fulfills local demand.

“We are committed to supporting the non-profit and neighborhood improvement programs that enrich our communities,” said Ryan Bailey, President and Chief Executive Officer at Cambridge Savings Bank. “It is an honor to have the opportunity to contribute to the Chesterbrook Community Foundation’s efforts to empower the young minds in its programs. We firmly believe that investing in education is pivotal for fostering a brighter future in our communities and will continue to do our part in providing resources to those who need it the most.”

Through its dedicated community relations efforts, CSB has supported a variety of non-profit and community programs through grants, scholarships, sponsorships, financial education courses and more. For more information, please visit cambridgesavings.com/community.

About Chesterbrook Community Foundation

The Chesterbrook Community Foundation (CCF) empowers the children and teens who live in the Chesterbrook Gardens and Dana Court public housing communities in Waltham, Massachusetts by providing them with mentoring, academic support, and enrichment in structured after-school and evening programs. Chesterbrook Community Foundation is a 501(c)(3) nonprofit organization founded in 2008. The Foundation operates two community centers. The Chesterbrook Community Center is located in the 100-unit Chesterbrook Gardens public housing complex in North Waltham. The Dana Court Community Center is located in the 35-unit Dana Court public housing complex in downtown Waltham. The community centers operate free after-school and teen programs for students in the communities. You can learn more at chesterbrookwaltham.org.

About Cambridge Savings Bank

Cambridge Savings Bank is a full-service banking institution with over $6 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. In March 2023, Kroll Bond Rating Agency Affirmed CSB’s investment-grade rating, reinforcing the bank’s position as a reliable business lender. To learn more about how CSB can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender.

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