Cambridge Savings Bank to Sponsor Upcoming Mass Black Expo

CAMBRIDGE, Mass.–(BUSINESS WIRE)–Cambridge Savings Bank, a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced its sponsorship and support of the Mass Black Expo scheduled to take place at the Boston Convention Center on Friday, September 23rd. Organized by the Black Economic Council of Massachusetts, the MBE is a one-of-a-kind annual event that features Black businesses, thought leaders, and allies engaged in helping to close the racial wealth gap in communities across Massachusetts. 

The MBE will highlight Black businesses across industries, connect these firms with procurement opportunities in the private and public sectors, share resources and offer support to help grow its emerging or existing businesses, and ultimately build a stronger Black community within the Commonwealth. Throughout the day, educational sessions will be held to focus on helping to create meaningful impact via four key content pillars: Ownership, Entrepreneurship, Commerce and Placement.

“At Cambridge Savings Bank, we focus our attention on partnering with the neighborhoods that we serve by supporting nonprofit and community programs that enrich the lives of the people in Greater Boston,” said Carol SextonHead of Retail Banking at Cambridge Savings Bank. “We’re thrilled to sponsor the Mass Black Expo and play a small role in the Black Economic Council of Massachusetts’s mission to advance the economic well-being of our state’s Black community. The event, and the supporting organization, share our vision to close the racial wealth gap.”

Assistant Vice President – Business Development Officer and Small Business Financial Education Specialist, Eddy Desir, will be onsite Friday to collaborate with attendees and build awareness of CSB’s Small Business Financial Education Program. The course provides small businesses with information on best practices related to marketing, cash flow, available financing options and additional topics that can contribute to a company’s overall financial wellness. Desir will also be happy to provide further information on CSB’s suite of financial education resources, including upcoming workshops on budgeting and savings, credit, and home buying.

Committed to supporting the financial wellness of local communities, CSB offers a variety of financial literacy programs including custom courses for organizations, as well as standard workshops for community members of all ages. In addition to the small business program, Desir will be in attendance to learn about the unique needs of local Black business owners.

In addition to the in-person activities at the Boston Convention Center on Friday, September 23rd, MBE will also be hosting a virtual portion of the event on Saturday, September 24th rounded out by workshops and keynote speakers. To register for the event, please visit massblackexpo.com.

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, 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 and has branches located in Arlington, Bedford, Belmont, Burlington, Cambridge, Charlestown, Concord, Lexington, Melrose, Newton, Somerville, and Watertown. To learn more about how we can meet your needs, visit us at cambridgesavings.com, or better yet, stop by one of our branches. Member FDIC. Equal Housing Lender.

About Black Economic Council of Massachusetts

In 2015, the Federal Reserve Bank of Boston published its “Color of Wealth in Boston” report detailing the ever-widening racial wealth gap. This report was released against the backdrop of a massive building boom in the city — the third in its 400-year history. Researchers discovered that the median net worth of Black Bostonians was only $8, compared to the $247,500 median net worth of white Bostonians. This alarming figure prompted almost 1,000 Black residents to fill the Prince Hall auditorium in Dorchester, where the community discussed how best to respond to this crisis. Following this gathering and other meetings that occurred in its aftermath, several key business leaders formed the Black Economic Council of Massachusetts (BECMA) to build on the momentum and enact tangible solutions to reverse the trend of depreciating Black wealth in the city. BECMA’s founders know that Black businesses are one of the primary drivers of Black wealth and employment. That’s why the organization advocates specifically for the support and sustainment of Black businesses across the Commonwealth. For more information: becma.org.