When Jeri Foutter talks about Codman Square Neighborhood Development Corporation (CSNDC), she sounds less like a funder and more like a partner who knows she’s found exactly the right organization to stand beside.
Foutter is First Vice President, Community Partnerships and Foundation Officer at Cambridge Savings Bank, where she oversees corporate and foundational giving and the Community Partnerships Team. Under her leadership, the bank has shifted from supporting a wide range of causes to a more focused strategy built around two core priorities: affordable housing and food insecurity.
“I felt that it was important for us to focus on food insecurity and affordable housing so we could make a measurable impact in those areas,” she explains.
Those focus areas are not accidental. As an FDIC‑insured institution, the bank is governed by the Community Reinvestment Act (CRA) regulation, which requires the bank to demonstrate how it serves low to moderate income (LMI) individuals, families, and communities. Affordable housing and food access are central to that work.
“Clearly, we’re looking for organizations where the majority of their beneficiaries are low to moderate income, and that is the case with CSNDC,” she says. “Their programs are clearly focused on supporting under‑resourced groups, and those are the types of organizations we wish to partner with.”
The commitment behind that partnership is significant. The bank pledges 6% of its earnings each year to community giving through its foundation and has contributed more than $20 million since 2003. Those funds support more than 350 relationships through grants, sponsorships, in kind donations, employee volunteerism, and financial education.
CSNDC stands out within that portfolio for both its mission and its structure. As a Community Development Corporation participating in the Massachusetts Community Investment Tax Credit (CITC) program, CSNDC can offer major donors up to 50% of their gifts back in state tax credits, when credits are available and requirements are met. For Cambridge Savings Bank, that creates a powerful “win–win”: its giving goes further, while more capital flows into a neighborhood‑based organization driving long‑term change.
Yet Foutter is clear that the relationship is about more than tax credits or CRA exams. It’s about tackling difficult work alongside a trusted partner.
“Affordable housing development is complicated and expensive and not always met with full support of abutters and the neighborhood,” she notes. “So it’s an uphill walk, and we want to walk that with you. CSNDC is the subject matter expert; we’re here to support you.”
“We are truly grateful to have Cambridge Savings Bank as a partner in supporting a thriving Codman Square community,” says Harrison Holcomb, CSNDC’s Vice President of Fundraising and Impact Analysis. “Their commitment enhances our initiatives and helps drive sustainable growth and opportunity for all residents.”
The bank’s support of CSNDC extends beyond grants to financial education as well. It has partnered with CSNDC to deliver CHAPA‑certified first‑time homebuyer classes and youth financial literacy programs. These courses help residents qualify for affordable mortgage products and down‑payment assistance while building long‑term financial stability.
For Foutter, this multi‑layered approach is exactly why CSNDC is such a natural partner.
“Solving one thing is not going to change everything,” she says. “You need to adapt a multi‑prong approach and push levers at different pressure points, whether that’s housing, food insecurity, economic mobility, or education. CSNDC does all of the above—and that’s why Cambridge Savings Bank chooses to invest there.”
