Cambridge Savings Bank

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Cambridge Savings Bank was the first mutual savings bank in Cambridge.

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We have been headquartered in Harvard Square since January of 1835, when we opened for business as the first mutual savings bank chartered in the city of Cambridge.

It was midwinter during the end of the Industrial Revolution, and our founders had a single-minded goal: to provide a safe and dependable place for the people of the community to keep their hard-earned money.

The Industrial Revolution had led to a dramatic increase in the number of people with stable, long-term employment—and a burgeoning sense of self-reliance and freedom. It had created an entirely new group of people whose lives would be improved by having access to the services of a bank focused on the community.

Commercial banks had been in business since the late 1700s. They provided services to people of means, to businesses and their owners, and to investors—making them an awkward fit for the needs of the new working-class. It was this gap in the market that community-focused mutual savings banks were designed to serve. Mutual savings banks are a logical way to make professional financial resources available to everyone, by providing a safe, dependable place to keep their money and nurturing their financial independence.

In the decades and centuries that followed, this place we call home has progressed into one of the most diverse, forward-thinking cities in the country. As it has evolved, so have we, opening branches in neighboring towns, expanding the services and products that we offer, and increasing our asset base to enable future growth. We are proud of our heritage, and honored to be a longstanding member of this particular community. And for all of our customers, the people who have given us the opportunity to serve them, we are grateful: it is our sincere hope that their relationship with us has made their lives a little better.

Our Values

As you get to know Cambridge Savings Bank, you’ll see that we embody our values in everything we do, every day.

  • Trustworthy: We will be a well managed, stable financial services organization worthy of our customers’ business.
  • Resourceful: We will provide products and services that will meet our customers’ needs.
  • Convenient: We will make it easy for our customer to do business with us.
  • Respectful: We will respect our customers’needs, their financial goals and their time and we will provide them with exceptional customer service.
  • Diversity: Diversity is an essential component of the way we do business.

We believe that for a company to be successful, it must contribute to the success of its communities by offering fair and equal opportunities.

Our policies are designed to provide everyone—from our employees, to our customers, and to our vendors—with equal access to opportunities. We strive to create a diverse workplace in which every team member’s voice is heard, and all will succeed while learning from one another.