News: Financial Digest

East Cambridge Savings Bank supports customers and community

Cambridge, MA Throughout the month of December, East Cambridge Savings Bank reached out to the community to assist those who lost their homes and businesses locally due to the 10-alarm fire in East Cambridge on December 3. Several employees of the bank came forward with names of friends, neighbors and customers who had lost everything. The bank adopted five families and supplied them with basic necessities.

A team of bank employees went out on an assignment to shop for necessities for all of these families. Items needed included bedding, appliances, clothes and toys. The families were invited to the main office of the bank on Wednesday, Dec. 21. Each family was greeted by bank employees, given their requested items and also given a special gift basket.

“This was one of the many ways for us to give back to the community,” said president and CEO Gilda Nogueira, “We are thrilled to be able to help these families. To hear their stories and be able to help goes beyond words.”

On Wednesday, Dec.14, employees of East Cambridge Savings Bank made a special lunch delivery to the Cambridge Firefighters who directly helped with the East Cambridge fire. The lunches were delivered to Inman Sq. Fire Station, Lafayette Fire Station and East Cambridge Fire Station. Later in the week, several employees from the bank also delivered breakfast items, coffee and pizzas to fire departments in Arlington, Belmont, Chelsea, Medford, Saugus, Somerville and Waltham who also helped.

“We stand behind the community that we call home and we wanted to extend our gratitude to all of the firefighters who worked endlessly that day,” said Nogueira.

East Cambridge Savings Bank is a full-service, mutually-held savings bank that believes in connecting with customers. The bank was established in 1854 and is dedicated to providing businesses and individuals with a full line of banking services in the communities it serves. Headquartered in Cambridge, the bank has offices in Arlington, Belmont, Cambridge, Chelsea, Medford, Somerville, and Waltham, as well as an educational training facility at Cambridge Rindge and Latin School, Cambridge, Mass. The bank is a member of the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF) of Massachusetts.

MORE FROM Financial Digest
Financial Digest

Example Story Title FD 5

Boston, MA The fall season always marks the return of IFMA Boston events, and this year is no different. Registration is now open for IFMA Boston’s FMForward Deep Dive 2024. The FMForward Deep Dive 2024 Conference will be held on November 19th at the Babson Executive Conference Center in Wellesley, Mass.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Cracking the code: Understanding the pros and cons of Delaware Statutory Trusts for 1031 Exchange real estate investors - by Dwight Kay

Cracking the code: Understanding the pros and cons of Delaware Statutory Trusts for 1031 Exchange real estate investors - by Dwight Kay

In the realm of real estate investing, the 1031 exchange Delaware Statutory Trust can provide savvy real estate investors a unique opportunity to achieve passive management, the potential for regular monthly distributions, and a way to enter one of the most tax efficient real estate investment strategies available today.
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Another reason to stay debt free in a 1031 Delaware Statutory Trust exchange - by Dwight Kay

Another reason to stay debt free in a 1031 Delaware Statutory Trust exchange - by Dwight Kay

It seems like every day there is another reason showcasing the reason why more and more investors are choosing to stay debt-free when investing in Delaware Statutory Trust (DST) properties in a 1031 exchange.
What’s UP with that? - by Kyle Kadish

What’s UP with that? - by Kyle Kadish

Investors have multiple tools to defer tax liabilities when selling investment properties. The best known is likely a 1031 exchange - which has been around in some form or fashion for over 100 years. Installment sales have existed as part of the code for more than 75 years. Newer legislation (2017) created Qualified Opportunity Zones (QOZs)