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Eastern Bank donates $10,000 to the Lowell Transitional Living Center

Funds will help consolidate operations and change how the city works with the homeless

LOWELL, Jan. 20, 2010 – Eastern Bank donated $10,000 through its charitable foundation to the Lowell Transitional Living Center, a temporary shelter for homeless men and women, the bank announced today.

The funds will be used to renovate the center’s first floor headquarters at 205-209 Middlesex St. – officially “kicking off” the center’s capital campaign to move its kitchen, dining room and offices from rented space at 191-201 Middlesex St. to their own building.

“I want to commend Eastern Bank for stepping up and providing financial support for the Lowell Transitional Living Center,” said Lowell City Manager Bernard F. Lynch. “A key part of our 10-year plan to end homelessness in Lowell is to concentrate our work on transitional efforts.  We are very optimistic that this approach will succeed.”

The Lowell Transitional Living Center should be viewed as a triage center to direct people to the necessary services to get them a place to live, added Lynch.

“Eastern Bank’s generous gift strengthens our effort to consolidate our operating space as the city moves from a shelter based system to a “housing first” model,” said Peter Duda, Executive Director of the Transitional Living Center.  “Eastern Bank’s donation makes it a leader in the effort to end homelessness in Greater Lowell.”

In 2008, Eastern Bank increased its presence in Middlesex County and the Merrimack Valley with its acquisition of MASSBANK Corp.  With nine branch offices in the Greater Lowell area, the bank is focused on serving these communities with the same level of commitment it has demonstrated in communities throughout eastern Massachusetts, said Eastern Bank President Bob Rivers.
“The Lowell Transitional Living Center supports the Eastern Bank Charitable Foundation mission to ensure that people in our communities have the basic needs of life, including a place to live,” Rivers said. “Lowell is fortunate to have an organization such as the LTLC.”
The mission of the Eastern Bank Charitable Foundation is to contribute, in a meaningful way, to the health and vitality of the various eastern Massachusetts communities.

This is done through financial support for selected nonprofit organizations operating within those communities.  In 2009, the foundation donated more than $2.0 million to numerous eligible organizations across eastern Massachusetts

About Lowell Transitional Living Center
The Lowell Transitional Living Center (LTLC) is a community supported, non-profit organization that provides a safe, temporary shelter for homeless men and women in the Greater Lowell area.  For so many who have lost hope, they can find it again here. At the Lowell Transitional Living Center, our mission is making positive changes in people’s lives as we seek to end homelessness in our community.

About Eastern Bank
Founded in 1818 and based in Boston, Eastern Bank is the largest independent and mutually owned bank in New England, with almost $7.0 billion in assets and more than 80 branches serving communities from the Merrimack Valley to Cape Cod.  Eastern Bank offers banking, investments and insurance all under one roof, and prides itself on working harder to understand its customers’ needs so it can deliver these services in a committed and personal way.  Eastern Bank includes Eastern Wealth Management, Eastern Insurance and Fantini & Gorga, a real estate advisory firm.

For more information, contact: Andrew Ravens, Public Relations, Eastern Bank, 781-598-8528, or e-mail Andrew Ravens.