Q&A with Wayne Patenaude, President and Chief Executive Officer – Cambridge Savings Bank
We know Cambridge Savings Bank is generous to many local organizations in the Greater Boston area. Why do you feel it’s important to give back to the community?
We live and work in the community; we’re a part of it. We bear a responsibility and a desire to make these towns thrive. As a mutual bank, we choose to make investments in our communities because it’s important to invest locally in the markets that support our customers, including small businesses. Small businesses depend on us not only to support the local economics of the towns they are part of but to also be their partner so they can share in our strength as an organization.
Can you share specific ways that your employees engage in the community?
We give back to our communities through grants, sponsorships, and scholarships as well as through employee volunteerism and our financial education programs. Our focus is on supporting non-profit organizations in human services, community development, youth services and education. CSB Employees are given 2 paid days per calendar year to volunteer in the community—and with that, have contributed over 25,000 hours of volunteer time to non-profit organizations in our communities over the last eight years.
We also have established Financial Education resources to support our communities; providing financial education to all ages, through various stages of life, by way of in-classroom workshops and seminars. Education topics range from basic money management, budgeting, and understanding credit, to first-time homebuyers, retirement, fraud awareness and, identity theft protection. Over the past 10 years, we have served over 25,000 financial program participants.
You are a resident of Concord and a former Board member of the Community Chest. Why have you chosen to live and work here? What sets Concord and Carlisle apart from other surrounding towns?
We were attracted to the classic New England setting—a historic downtown, strong school system, and access to both public and private transportation; it’s the right fit for us.
Cambridge Savings Bank has been a generous supporter of the Community Chest for 15 years. What is it about our organization that connects with your mission? Why do you think people and other local businesses should support the Community Chest?
Cambridge Savings Bank and the Community Chest’s core values align—both are grounded in integrity and dedicated to the betterment of the communities in which we serve. The Community Chest says it well “Neighbors Helping Neighbors” – there is no better way to help a community thrive for the long term. It is important to support, because a local business is only as strong as the vitality of all of its citizens.