Cambridge Savings Bank has expanded its CSBsmart Financial Education Program into 17 local communities in Eastern Massachusetts.

The CSBsmart program offers formal programs in elementary schools and high schools, according to a statement. It also serves at-risk populations, including elderly and low-to-moderate income residents in the local communities, and underserved populations, including new immigrants, Welfare to Work participants and students.

"Expanding the CSBsmart Financial Education Program fulfills a critically important aspect of the bank’s commitment to improve the financial well-being of people living in the communities we serve," said Robert M. Wilson, president and CEO of Cambridge Savings Bank. "By increasing the scope of CSBsmart, the bank addresses a tremendous marketplace need."

CSBsmart is staffed by more than 25 bank employees who are trained financial educators and is comprised of 10 customized modules that familiarize participants with the basics of budgeting and saving, the importance of maintaining financial stability, credit and fraud protection, and how to appropriately manage personal finances, according to a statement. Pre- and post-program tests of financial knowledge among high school students who participated in the program showed an average 93 percent increase of improved financial understanding and awareness.

"By helping people understand their finances regardless of their age or background, we are fulfilling an integral part of our mission as a community bank," said Susan Lapierre, senior vice president of community relations and Community Reinvestment Act officer for Cambridge Savings Bank. "Every study shows that access to credit and the ability to save are essential aspects of a community’s well-being."