News Flash

City of Malden News

Posted on: October 23, 2019

Bank Celebrates Malden Grand Opening with Ribbon Cutting, Community Celebration

East Cambridge Savings Bank Ribbon Cutting

East Cambridge Savings Bank officially opened its doors at 98 Pleasant Street with a ribbon cutting ceremony and grand opening celebration on Oct. 11 and 12, respectively. On Friday, Oct. 11, Mayor Gary Christenson and City Councillor Craig Spadafora joined Bank President and Chief Executive Officer Gilda Nogueira, along with several other Bank and local officials, to formally open the Bank’s 11th full-service banking center and first in the City of Malden. The Bank joins many other new and growing establishments in Malden Center as Pleasant Street undergoes a continued revitalization with an influx of businesses and residents.

“Establishing a presence in the City of Malden has long been of interest to us,” said Nogueira. “We already serve a sizeable number of residents and businesses in this community and we are looking forward to making new and meaningful partnership with the people and organizations that make Malden a special place to live, work, and raise a family.” With locations in nearby Medford and Chelsea, Malden is a natural extension of the Bank’s presence in the area.

Demonstrating the Bank’s commitment to supporting nonprofit organizations in the communities it serves, donations were presented to Malden based Bread of Life and Triangle, Inc. at the ribbon cutting event. A nondenominational organization, Bread of Life brings together people of all faiths and backgrounds with the common goal of providing food for the needy and isolated and addressing the root causes of hunger and poverty. Bread of Life Executive Director Gabriella Snyder Stelmack accepted the donation and noted that, “This support from East Cambridge Savings Bank will support our Under One Roof capital campaign which will enable us to build a new facility with a food pantry, kitchen facilities, and 14 studio apartments which will help some of our clients transition from homelessness to a stable, safe place to live.”

Triangle, Inc., an organization founded in 1971, provides services and support to people with physical and developmental disabilities. Throughout their long history in Malden, Triangle has been a leader in disability advocacy and connects their clients to job training, education, and supportive living arrangements so they can lead more fulfilling lives. Coleman Nee, Chief Executive Officer of Triangle, Inc. remarked that, “We congratulate East Cambridge Savings Bank on their opening and thank them for their generous support of Triangle and our mission. Malden is a vibrant, diverse and welcoming community and I am sure that the Bank will find that their new location and customers share the same deep commitment to social justice and inclusion as their organization and leadership do.”

After the donation presentations, Nogueira welcomed Mayor Gary Christenson who she praised as “a passionate advocate for Malden and its residents” and someone “who is a driving force behind the redevelopment and revitalization of Pleasant Street.” Mayor Christenson welcomed the Bank to Malden and commented on the true community feel of the opening events. “It is a pleasure to welcome East Cambridge Savings Bank to the City of Malden and we wish them success at their new Pleasant Street location. By welcoming community members and nonprofit organizations to today’s ribbon cutting, it truly emphasizes the Bank’s commitment to Malden and the organizations that serve our residents. Their early support of these organizations is truly admirable and an example of how to be a responsible member of the business community.”

On Saturday, the Bank welcomed the entire Malden community to a grand opening celebration. More than 300 people turned out on Pleasant Street for a barbecue, giveaways and raffles, and family activities including a caricature artist, face painting, and pumpkin decorating. Ten lucky attendees won $500 and another took home a $100 gift card package to local Malden businesses.

Johnny Long, a longtime employee at another Malden bank, will serve as the manager of the new location. He is joined by senior service associates Sang Nguyen and Luis Castillo-Ruiz, who also have close ties to the Malden community.

Located in the former Malden Trust Company building, the new banking center will be open on Monday-Thursday, 8:30 AM-5 PM, on Friday from 8:30 AM-6 PM and on Saturday 9 AM-1 PM. Customer parking and a 24-hour ATM are also available.

About East Cambridge Savings Bank
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 locations in Arlington, Belmont, Cambridge, Chelsea, Medford, Somerville, and Waltham, as well as an educational training facility at Cambridge Rindge and Latin School. The Bank is a member of the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF).

For more information, please visit www.ecsb.com/malden.

Content provided by East Cambridge Savings Bank.

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