East Boston Savings Bank Announces New Strategic Alliance with Starkweather & Shepley Insurance

East Boston Savings Bank Announces New Strategic Alliance with Starkweather & Shepley Insurance

East Boston Savings Bank (EBSB), and Starkweather & Shepley Insurance Brokerage Inc. (S&S) are pleased to announce a strategic alliance that will allow both financial service institutions the ability to offer a full line of commercial, personal and life insurance products.

The formation of this alliance will enable both organizations to expand the services offered to their respective clienteles throughout New England. This relationship will enhance the strategic goals of both organizations given the synergies of their client base, geographical footprint, product offerings, industries served as well as the shared value of a strong commitment to the communities served by both organizations.

Richard J. Gavegnano, President, CEO and Chairman of East Boston Savings Bank stated “Every person we are connected with; both employees and customers alike, need insurance protection and we often get requests to assist people with their insurance needs.  We found that S&S can consistently provide insurance solutions that are a perfect fit for our customers in addition to fitting seamlessly into our geographic footprint.  We are thrilled to have found S&S and look forward to referring their services as an option to our employees and customers”.

According to Andrew Fotopulos, President, Starkweather & Shepley Insurance Corp. of Massachusetts.  “We are very proud to be working with a distinguished financial institution such as East Boston Savings Bank that shares many of our core values and history. There is a reason why our two institutions have been in business for approximately 310 years. It’s our continued commitment to customers, community and employees that inspires us to evolve and improve the client experience every day.  The mantra “hard work” is emphasized by EBSB in their marketing campaigns and that’s what we both will do in order to be the best provider of banking and insurance services.”

Established in 1879, Starkweather & Shepley is the 68th largest Insurance brokerage firm in the U.S. Held in trust since 1935, ensures that the firm will remain privately held in perpetuity, providing certainty to clients and associates alike. The firm provides commercial and personal insurance, health and employee benefits, surety bonding and risk management services.

East Boston Savings Bank is a Massachusetts chartered stock savings bank originally founded in 1848. Offering a variety of deposit and loan products to individuals and businesses located Essex, Middlesex, Norfolk and Suffolk Counties, Massachusetts, EBSB is known for exceptional customer experiences, solid financial performance, workforce development and community leadership. The bank operates thirty five full-service branch locations and three loan centers in the Greater Boston metropolitan area.

East Boston Savings Bank is a wholly owned subsidiary of Meridian Bancorp, Inc. The common stock of Meridian Bancorp, Inc. is listed on the Nasdaq Global Select Market and trades under the ticker symbol “EBSB.”

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Meridian Bancorp, Inc Announces New Board Appointments

Meridian Bancorp, Inc Announces New Board Appointments

Richard J. Gavegnano, President, CEO and Chairman of Meridian Bancorp, Inc. and East Boston Savings Bank (EBSB) announces the elections of Carl LaGreca to Lead Director and Peter Scolaro to the Board of Directors for both Meridian Bancorp, Inc. and East Boston Savings Bank.

Mr. LaGreca’s succeeds Richard F. Fernandez, who served as Lead Director since 2015 and as a member of the Board since 2007. Mr. LaGreca will continue to serve as a member of Meridian Bancorp’s Audit Committee, a position he has held since 2009. The Lynnfield resident is a Certified Public Accountant at DiCicco, Gulman & Company, LLP of Woburn.  A graduate of Merrimack College, he also received a Master’s Degree in Taxation from Bentley College where he was awarded the Samuel Wolpe Memorial Award given to the outstanding student in the graduate tax program.

“We are excited to benefit from Peter’s thirty-four year affiliation with EBSB and his experience with ABCD preparing budgets and overseeing property and construction management and his many years of service to the East Boston community. His understanding of budgeting, finance and corporate strategy will enhance the board and we greatly look forward to his contributions” said Gavegnano.

Founded in 1848, EBSB is a proven community bank that offers products and services that meet the deposit and financing needs of both consumers and businesses.  And customers can rest easy knowing that their deposits are fully insured by both the FDIC and Depositors Insurance Fund (DIF).  East Boston Savings Bank currently operates 35 full-service branches in the Greater Boston metropolitan area, and offers a variety of deposit and loan products to individuals and businesses located in its primary market, which consists of Essex, Middlesex, Norfolk and Suffolk counties.

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East Boston Savings Bank’s Annual Holiday Auction

East Boston Savings Bank’s Annual Holiday Auction

East Boston Savings Bank’s 32nd Annual Holiday Auction raised over $75,000 for local charities. EBSB employees, family, friends and vendors gathered at the Danversport Yacht Club where items donated by Bank employees, family members, local businesses and vendors were auctioned off to the highest bidder.  Other items others were offered through various raffles that took place during the evening.

EBSB’s President, CEO and Chairman Richard J. Gavegnano and Executive Vice President John Migliozzi served as auctioneers for the event.  “The auction is a wonderful event and one our employees look forward each year as it brings them all together for the fun and enjoyment of giving to a good cause. We are proud of the role we play as a good neighbor in the communities we serve, and our employees continue to be supportive of those efforts” said Gavegnano.  “It’s hard to believe that the Bank has been doing this for thirty-two years. Each year the event gets bigger and the donated items are more extravagant”.

The five charities benefitting from the event are Bread of Life in Malden, Crossroads Family Shelter in East Boston, East Boston Social Centers, Greater Medford Visiting Nurse & Community Health and Citizens Inn in Peabody.  Each of these organizations received a check for $15,000.

About East Boston Savings Bank

Founded in 1848, EBSB is a proven community bank that offers products and services that meet the deposit and financing needs of both consumers and businesses. East Boston Savings Bank currently operates 32 full-service branches and operates a Mobile Banking Unit in the greater Boston metropolitan area and offers a variety of deposit and loan products to individuals and businesses located in its primary market, which consists of Essex, Middlesex, Norfolk, and Suffolk counties.

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City Manager: Housing Court a Major Need in Chelsea

As substandard housing continues to be a recurring issue within the City – especially during the upcoming heating season – several organizations and officials have renewed their call for a statewide housing court system that would encompass Chelsea.

“Absolutely Chelsea needs a housing court,” said City Manager Tom Ambrosino. “When I was with the Supreme Judicial Court, this was a big issue. Chief Justice (Ralph) Gants has called for the expanded jurisdiction of the housing court. He wants it to be statewide. (Former City Manager) Jay Ash certainly support it. I support it…You would cover the whole state. Right now, people in Chelsea do not have access to a housing court. Housing matters are handled in the district court. There are lots of additional resources in a housing court that are available that aren’t available in a district court.”

A plan circulating throughout Beacon Hill would create several districts within the state, and each district would have a type of circuit judge that would travel within the district to hear cases.

In 2014, the state judiciary put out a call to expand housing court statewide by July 2015, which obviously did not happen. However, legislation is pending on Beacon Hill and support seems to be universal.

“We believe that all residents of the Commonwealth, regardless of where they live, should have the opportunity to have their housing case heard by a Housing Court, and benefit from its specialized expertise in residential housing matters,” said Gants in a 2014 statement.

Created in 1978 the Housing Court Department is a court of specialized jurisdiction that deals with residential housing matters, including landlord-tenant issues, and enforces the Commonwealth’s building, fire, and sanitary codes. Its growth over the ensuing decades has been patchwork in nature: about 20 percent of Massachusetts in geographic terms is not covered by a Housing Court and, since the uncovered areas are quite populous, about 30 percent of the state’s population does not have access to a Housing Court.

Major areas of the Commonwealth do not have the much-needed services of a Housing Court. There is no Housing Court for all of Barnstable, Dukes, and Nantucket counties, most of Norfolk County, and much of Middlesex County. Cities with some of the highest number of rental units, such as Chelsea, Framingham, Malden, Cambridge, Medford, Somerville, Watertown, Woburn, and Waltham, do not have a Housing Court.

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Metro Credit Union Donates to Haven from Hunger

Metro Credit Union Donates to Haven from Hunger

Vanessa Silveira, (right) Metro Credit Union's Peabody branch manager hold the donation check with Alyse Barbash, Director at Haven From Hunger.

Vanessa Silveira, (right) Metro Credit Union’s Peabody
branch manager hold the donation check with Alyse Barbash,
Director at Haven From Hunger.

Metro Credit Union, the Commonwealth’s largest state-chartered credit union, donated $1000 to Haven From Hunger, a local non-profit committed to feeding people in the Peabody, Lynnfield and Salem communities.

“We are so glad to be able to donate to Haven From Hunger at such a critical time, just days before Christmas. We have worked with this organization in the past and truly appreciate what they do in our communities in the fight against hunger,” explains Charlene Bauer, SVP of Community and Business Development at Metro Credit Union.

Alyse Barbash, Director at Haven From Hunger, says “We are so thankful that Metro Credit Union was able to provide us with this timely donation. Haven From Hunger is happy to have another neighbor in the community committed to providing food for the less fortunate.”

The money donated to Haven From Hunger will feed 40 families a full Christmas dinner.

About Metro Credit Union

Metro Credit Union is the largest state-chartered credit union in Massachusetts with over $1.2 billion in assets, and serves more than 150,000 members. It is a growing, federally insured financial institution and a leading provider of a full range of financial services to anyone living or working in Essex, Middlesex, Suffolk, Norfolk, Plymouth, Barnstable or Worcester counties in Eastern Massachusetts, as well as Massachusetts state employees and retirees throughout the Commonwealth.

Founded in 1926, Metro CU is a non-profit cooperative institution, owned by and operated for the people who use and benefit from its products and services. Metro CU uses superior customer service and technology to deliver a full range of financial products to consumers and businesses in eastern Massachusetts. Metro CU is well known for providing members with unlimited refunds of other banks’ ATM fees through its My Reward Checking account.

Metro CU has 14 branch offices conveniently located in Boston, Burlington, Chelsea, Framingham, Lawrence, Lynn, Melrose, Peabody, Salem, and Tewksbury, and is also a leader in workplace banking, serving over 1,800 companies throughout the state. Learn more about Metro Credit Union at www.metrocu.org.

About Haven From Hunger

Haven from Hunger has been a symbol of hope and compassion in the Peabody, Salem and Lynnfield townships since 1982. Housed in the basement of the Masonic Temple, the soup kitchen and food pantry serves well over 100 people every day.

The Haven from Hunger recognizes the vital importance of providing basic nourishment to those who are hungry — much more is needed. Together with the solidarity and commitment of our staff and volunteers, the Haven strives to be a gateway to positive change in the lives of the people it serves and seeks to enlarge our guests’ capacity for self-help and reconnect them to the broader community. Through our programs and in our commitment to combating hunger and homelessness, we provide the support and respect guests need to become self-sufficient and regain hope for the future. The Haven is a place of humanity, compassion, and dignity.

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