Morgan, Lewis & Bockius LLP

One Federal Street

Boston, Massachusetts 02110

September 15, 2017

VIA EDGAR

Securities and Exchange Commission

Division of Investment Management

100 F Street, NE

Washington, D.C.  20549

Re:	Aquila Tax-Free Trust of Oregon (a portfolio of The Cascades Trust)
	(File Nos. 33-4382 and 811-4626)

Ladies and Gentlemen:

On behalf of The Cascades Trust, a Massachusetts business trust (the “Registrant”) and pursuant to Rule 497(c) under the Securities Act of 1933, as amended, attached for filing are exhibits containing in interactive data format the risk/return summary information that appears in a supplement dated September 1, 2017 to the Prospectus dated July 25, 2017 relating to its series, Aquila Tax-Free Trust of Oregon (the "Trust").

Please call the undersigned at (617) 951-8458 or Toby R. Serkin at (617) 951-8760 with any comments or questions relating to the filing.

Sincerely,

/s/ Jeremy B. Kantrowitz

Jeremy B. Kantrowitz