Savings bank

Cambridge Savings Bank promotes local small business development through financial education courses

CAMBRIDGE, Mass.–(BUSINESS WIRE)–Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-focused approach and over $5 billion in assets, today announced the launch of its financial education program for small businesses. Led by CSB’s Director of Financial Education, Philip Mouston, The program will provide small businesses with information on best practices related to marketing, cash flow, available financing options, and additional topics that can contribute to a business’s overall financial well-being.

Originally offered exclusively through community partners, the small business program will now be widely available to existing and potential CSB customers in the coming months. The course started in September 2021 at Center for Women and Enterprise‘s (CWE) 10-week program for small businesses in Dorchester, MA. CSB presented participating entrepreneurs with a workshop on small business credit that was so well received that it led to the development of a new, broader educational program.

“The lessons our partners at CSB were able to convey to a class of small business owners and aspiring entrepreneurs in a short time were very impactful, providing an invaluable learning experience for all involved,” says Beth Ann Dahan, Program Manager and Small Business Advisor at CWE. “The bank’s strong commitment to the success of every student was evident at our program’s graduation ceremony, which CSB attended to offer additional encouragement and guidance to everyone they had worked with. We found their program so beneficial that we invited them to lead another workshop the following month and have already asked them to lead the program again in 2022.”

The relationship between CSB’s financial education team and CWE has deepened since the completion of these initial courses. Following workshops held in partnership with CWE this fall, CSB continues to provide mentorship and financial education to help guide eight entrepreneurs through the complexities of owning a business. In December, CWE requested Eddy Desirespecialist in financial education for small businesses at the CBS, to serve on its advisory board.

In addition, CBS also presented a small business retirement workshop to 14 participants at the Rotary Club of Cambridge. More recently, the bank completed a program of four workshops with several participants at CSBBN.

“It has been such a rewarding experience to watch our small business financial education program grow and evolve. Witnessing the positive impact these courses have had on the lives of dozens of community entrepreneurs over the past few months has been more rewarding than I can say,” said Mouston. “This program is not only beneficial for the participants, but also for CSB as it provides another way for us to build deeper relationships with minority-owned businesses before they need funding, as well as to intimately learn the ins and outs of businesses run by both current and future clients.

The financial literacy programs offered by CSB include courses customized for organizations, as well as standard workshops for community members of all ages. For those interested in learning more about CSB’s comprehensive small business training programs, please visit: cambridgesavings.com/financial-education.

About Cambridge Savings Bank

Cambridge Savings Bank is a full-service banking institution with over $5 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, our customers and the communities we serve. One of Massachusetts’ oldest and largest community banks, Cambridge Savings Bank offers a full range of personal and business banking services through a strong Massachusetts-based branch network and digital banking solutions for customers. traders, small businesses and consumers. To find out more about how we can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you get the most out of your banking relationship. FDIC member. Equal Housing Lender.


Source link