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City of Lowell and Eastern Bank collaborate to open the city’s pools this summer

Eastern Bank matching donations to fund swimming pools
 
LOWELL, March 10, 2010 – With reductions in state aid jeopardizing the city’s ability to open its swimming pools this summer, Eastern Bank has agreed to match donations to a fund that will be used to open City of Lowell pools this summer, the bank and city announced today.

Dubbed “Make a Splash in Lowell,” the unique public-private partnership will attempt to raise a total of $50,000 – with half coming from public contributions and half from the Eastern Bank Charitable Foundation.

“As revenues decline and expenses rise, cities like Lowell are being forced to make tough choices these days,” said Robert F. Rivers, president of Eastern Bank.  “We hope this program will eliminate at least one of those choices, while providing the city’s kids with a safe place to go and create a few jobs along the way.”

All donations will be matched dollar-for-dollar from the bank’s foundation until the $50,000 goal is met.  Donations can be made at any Eastern Bank branch in Greater Lowell or online at www.easternbank.com/makeasplash.  The online donations are being arranged through the Greater Lowell Community Foundation, which is supporting the initiative by assisting with the fundraising effort.

“While we are faced with tough fiscal choices, the city is committed to providing safe, fun recreation for kids all summer long,” said Lowell City Manager Bernie Lynch. “The more we can find creative solutions with opportunities for public-private partnerships, the more we can ensure that City of Lowell residents get the best services possible. We extend our thanks to Eastern Bank for its generosity and support, not to mention the Greater Lowell Community Foundation and the people here in City Hall who helped get this program off the ground.”

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, Rivers said.

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 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.