Several local banks have joined an initiative to increase voter registration and participation in the U.S.

Cambridge Savings Bank, Cambridge Trust Co. and Eastern Bank are among the companies participating in “A Day for Democracy,” a coalition launched this week by CEOs and leaders of firms in finance, real estate and construction, venture capital, higher education, entertainment, hospitality and healthcare, and other industries.

The non-partisan initiative asks employers across the U.S. to commit to actions that will give employees time off to vote or to participate in voter registration initiatives.

The coalition was created by Peter Palandjian, chairman and CEO of Boston-based Intercontinental Real Estate Corp.

“There is no more important or patriotic act than voting,” Palandjian said in a statement. “I’ve always been troubled by routine low turnout in U.S. elections and wanted to find a way to have a positive effect on increasing voter participation. As a CEO, I recognize that I can help by removing barriers for my own employees and encouraging others to do the same. We can all do better, and this non-partisan effort is an important first step.”

The coalition said in a statement that the U.S. has one of the lowest voter participation rates of any democracy in the world, with less than 56 percent of the U.S. voting age population casting ballots in the last presidential election. Unlike the U.S., most other democracies hold elections on weekends.

Joining Palandjian in “A Day for Democracy” are Ronald O’Hanley, chairman and CEO of State Street Corp.; Miceal Chamberlain, Bank of America’s Massachusetts Market President; and more than 90 other companies representing 300,000 employees.

Other participants include the Massachusetts Bankers Association, The Davis Cos., Bulfinch Cos., the Greater Boston Chamber of Commerce and Suffolk Construction.