Cambridge Savings Bank has opened a new branch in Somerville’s Assembly Row, the bank’s 18th branch and first in Somerville.

The new branch opened on Aug. 17 and is located at 475 Foley St. The bank will celebrate the new Somerville location from Aug. 27 through Sept. 1 with activities, giveaways and opportunities to meet the CSB Somerville team.

“CSB’s focus on meeting its customers where they are has led to the opening of a new location to offer even more convenience to the more than 3,800 individuals, families, and businesses that it serves in Somerville as well as new customers to whom CSB can extend its services,” the bank said in a statement.

CSB said it has made a commitment in 2021 to donate 6 percent of the bank’s total earnings to the community. The bank said it has active partnerships with several local nonprofits in Somerville and over the past 10-plus years has donated more than $500,000 to organizations there. The bank has also provided over $135,000 in scholarship awards to Somerville High School seniors.

“We are thrilled to be expanding into Assembly Row, which furthers our long-standing commitment to the Somerville community,” Wayne Patenaude, president and CEO at CSB, said in the statement. “The Assembly Row branch is well positioned to offer substantial value to the community through our superior customer experience, innovative digital capabilities, and meaningful charitable giving. At CSB, we know that we’re only as strong as the communities we serve.”

Since 2011, CSB said it has provided financial education courses to over 5,000 participants through collaborations with Somerville High School, the Argenziano School, Somerville Community Corporation, Somerville Homeless Coalition and Mystic Learning Center. In addition to its community-focused efforts, the bank said it has committed to sustainability, including by a 35 percent reduction in energy usage intensity and an 8-million-pound reduction in greenhouse gases over the past 20 years. The bank said it would continue this commitment in Somerville.

The Somerville branch is CSB’s second new location in the past 14 months. In June 2020, CSB entered the Melrose market by acquiring Melrose Bank. The $5.2 billion-asset bank also has branches in Cambridge, Arlington, Bedford, Belmont, Burlington, Charlestown, Concord, Lexington, Newton and Watertown.