Bank of America on Monday officially reopened its Harvard Square financial center, which has been transformed into a designated student, investment and retirement, lending and small business center.

The new center is located at 1414 Massachusetts Ave. in Cambridge. The student area includes banking services and amenities customized to provide support for students, and shows school spirit with images of Harvard University’s campus and a 100-year-old crew boat on display. The updates also include digital banking demo tables, iPads in the lobby to be used as discover tools for clients to view financial life priorities and interactive touch screens on the wall that help clients with services such as home buying, retirement and credit.

At the event Monday, Bank of America also presented a $25,000 charitable grant to Y2Y Harvard Square, the nation’s first student-run overnight shelter providing a safe and affirming environment for hundreds of young adults ages 18 to 24 experiencing homelessness each year.