CAMBRIDGE, Mass.–(BUSINESS WIRE)–Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-focused approach and over $5 billion in assets, today announced its sponsorship and support of the mass black expo (MBE) is scheduled to take place at the Boston Convention Center on Friday, September 23rd. Organized by the Massachusetts Black Economic Council (BECMA), the MBE is a one-of-a-kind annual event that showcases Black businesses, thought leaders and allies committed to helping close the racial wealth gap in Massachusetts communities.
The MBE will shine a light on black businesses across all sectors, connect these businesses with sourcing opportunities in the private and public sectors, share resources and offer support to help grow its emerging or existing businesses, and ultimately build a stronger black community within the Commonwealth. Throughout the day, educational sessions will be held to help create meaningful impact through four key content pillars: Ownership, Entrepreneurship, Trading and Investment.
“At Cambridge Savings Bank, we focus our attention on partnering with the neighborhoods we serve by supporting nonprofit and community programs that enrich the lives of people in Greater Boston,” said Carol Sexton, Head of Retail Banking at Cambridge Savings Bank. “We are thrilled to sponsor the Mass Black Expo and to play a small part in the mission of the Black Economic Council of Massachusetts to advance the economic well-being of our state’s black community. The event and supporting organization share our vision of closing the racial wealth gap.
Assistant Vice President – Business Development Officer and Small Business Financial Education Specialist, Eddy Desirewill be on site on Friday to collaborate with participants and promote the CSB Small Business Financial Education Program. The course provides small businesses with information on best practices related to marketing, cash flow, available financing options, and additional topics that can contribute to the overall financial well-being of a business. Desir will also be happy to provide further information on CSB’s suite of financial education resources, including upcoming workshops on budgeting and saving, credit and buying a home.
Committed to supporting the financial well-being of local communities, CSB offers a variety of financial literacy programs, including customized courses for organizations, as well as standard workshops for community members of all ages. In addition to the small business program, Desir will be on hand to learn more about the unique needs of local black business owners.
In addition to in-person activities at the Boston Convention Center on Friday, September 23rdMBE will also be hosting a virtual part of the event on Saturday, September 24e complemented by workshops and speakers. To register for the event, go to massblackexpo.com.
About Cambridge Savings Bank
Cambridge Savings Bank is a full-service banking institution with over $5 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, our customers and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full range of personal and business banking services and has branches located in Arlington, Bedford, Belmont, Burlington, Cambridge, Charlestown, Concord, Lexington, Melrose, Newton, Somerville, and Watertown. To find out more about how we can meet your needs, visit us at cambridgesavings.com, or better yet, stop by one of our branches. FDIC member. Equal Housing Lender.
About the Massachusetts Black Economic Council
In 2015, the Federal Reserve Bank of Boston released its “Color of Wealth in Boston” report detailing the ever-widening racial wealth gap. This report was released against the backdrop of a massive building boom in the city – the third in its 400-year history. The researchers found that the median net worth of black Bostonians was just $8, compared to $247,500 for white Bostonians. The alarming figure prompted nearly 1,000 black residents to fill Prince Hall Auditorium in Dorchester, where the community discussed how best to respond to this crisis. As a result of this gathering and subsequent meetings, several key business leaders formed the Black Economic Council of Massachusetts (BECMA) to build on this momentum and adopt tangible solutions to reverse the tide. to the depreciation of black wealth in the city. The founders of BECMA know that black businesses are a key driver of black wealth and employment. This is why the organization specifically advocates for the support and retention of black businesses across the Commonwealth. For more information: www.becma.org.