Better Serving Every Community
We’re believers in good people who are capable of doing great things. When it comes to the people behind small businesses, non-profits or the development of affordable housing, we are passionate about supporting them. That means opening bank branches in neighborhoods without them. Donating more than just money, but our time by volunteering and serving the people who make our bank what it is. Championing small business owners and encouraging everyone to support them. It means intentionally choosing to be a truly people-first organization, by helping them reach their full potential.
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Community Development Lending Helps Low-Income Neighborhoods Thrive
Lifting Up Who and What Matters
At Eastern Bank, we want to be more than just a good bank, but also a bank that does good. It’s why we’re doing our part to help develop housing solutions for low-to-moderate income families and individuals, support the credit needs of charter schools, health care providers and social service organizations and provide financing to large solar power generating facilities just to name a few.
Our team of lending professionals and experts are committed to supporting the needs of the people we serve through the use of term loans, construction loans and lines of credit so people and businesses can invest back into their communities.
Learn more about Community Development Lending here.
Small businesses are vital to helping our economy grow and flourish. Unfortunately, securing capital is one of the biggest and earliest challenges for small business owners. At Eastern Bank, we know the value that small businesses and their owners bring to each and every one of the communities we serve, so we’ve dedicated ourselves to helping them in a number of ways.
We’ve partnered with the U.S. Small Business Administration (SBA) to offer loans specifically designed to help small to mid-sized business owners get past the initial hurdles like the ever changing business cycles, a line of credit or capital expansions.
We’ve been voted the #1 SBA lender in New England for eight consecutive years, and we’re proud of it. The way we see it, the more small businesses that thrive, the more opportunities there are for the whole community to do the same.
Learn more here.
It’s no secret that there are racial, gender and other disparities in our country that lead to income and wealth gaps in our communities. With underserved communities being perpetually left behind, we took action and created the Foundation for Business Equity. At its core, the independent non-profit organization helps foster greater economic mobility through the growth of Black and Latinx-owned businesses. In 2017, we offered a $10 million commitment to address the widening income and wealth gaps disproportionately affecting these communities by helping enterprises of color scale their businesses with the help of strategic advisors, mentorships and personalized growth plans.
Our experience assisting Black and Latinx business owners has been rewarding. In fact, more than 40 businesses have participated so far, resulting in millions of dollars in new business revenue, significant workforce growth, and millions of capital invested in local businesses. While these results are promising and exciting, there is still room for improvement, and we’re up to the challenge.
Learn more about the Foundation for Business Equity here.
We believe that financial literacy, the ability to save, budget, spend wisely and invest, is an essential tool to have. We also know that dealing with personal finances can be daunting at any age. It’s why we’ve partnered with nonprofit community organizations and high schools to offer education programs designed to help people learn how to take control of their finances and develop better money management skills.
At Eastern Bank, we’re a member of the FDIC Money Smart Alliance and proud supporter of the Money Smart Program. This program is a standardized banking curriculum that covers basic financial topics and offers resources and materials to participants to reinforce their learnings after the course is over. Better financial habits begin with better money management skills, and we believe giving people in our communities the tools they need will only help improve their lives and the communities they live in.
Learn more about our financial education programs here.
Our culture is rooted in community service and involvement. At Eastern Bank, we’re proud to donate more than just money but time to worthy causes and initiatives that improve the lives of the people we serve. In fact, our employees have historically donated more than 50,000 hours annually to organizations and causes that are important to them, which is more than any other company in the Greater Boston region.
The best part? Donating time isn’t mandated for any employee. But our company and the people within it value the act of service and the opportunity to do so. We offer hundreds of dates, times and causes to fit within our employees schedules, ages and interests. We benefit organizations like Cradles to Crayons, Massachusetts Military Heroes Fund, Project Citizenship and The Food Project just to name a few. Because as a bank dedicated to serving our communities, giving back isn’t just what we do, it’s who we are at our core.
To request a corporate volunteerism event, click here.
How You Can Join Us
Are you active in your community? Passionate about supporting small businesses? Committed to giving children equal access to education? We are too. Take a look at a few of our community partners.
You have goals, dreams and passions for your life. We want to help you achieve them all. Learn more about opening a checking or savings account with us below.
Need a partner to help you grow your business? We can lend a hand. Learn more about opening a business account with us below.
We’re a full-service commercial bank with experienced and knowledgeable lending professionals. Learn more about opening a commercial account with us below.
From financial planning to portfolio management, our team is ready to address all of your budgeting and saving needs. Learn more about our wealth management services.
Eastern Insurance is one of the largest independent insurance agencies in New England. Learn more about how we can help you protect what you’ve worked so hard to achieve.