WAYNE, Pa.--(BUSINESS WIRE)--WSFS Bank was presented today with the prestigious FHLBank Pittsburgh Pillars of the Community Award in recognition of the bank’s commitment to community revitalization. The Pillars award is FHLBank’s highest organizational honor and is presented annually to select FHLBank members.
Headquartered in Wilmington, Del., WSFS Bank received the award at one of FHLBank’s regional member golf outings. John Bendel, FHLBank Director of Community Investment, spoke at the event about WSFS Bank’s community achievements. Glenn Kocher, Senior Vice President and Director of Small Business at WSFS Bank, accepted the award on behalf of the bank.
As part of the award, FHLBank also presented a $1,000 check on WSFS Bank’s behalf to Diamond State Community Land Trust in Dover, Del. Diamond State Community Land Trust helps families own homes at prices they can afford by investing funds in every transaction, “buying down” the purchase price of the homes.
An active member of the FHLBank cooperative, WSFS Bank saw completion in 2015 of the Frederica Neighborhood Revitalization, channeling critical Affordable Housing Program dollars into this scattered-site Habitat for Humanity project in central Delaware. WSFS has also been a frequent user of the First Front Door program, assisting first-time homebuyers with down payments and closing costs. Additionally, WSFS has been a program sponsor of the Blueprint Communities initiative, participating on three community teams and helping to make a real difference in neighborhoods throughout the state.
“WSFS Bank shows that it's dedicated to improving communities every day by financing affordable housing, helping first-time homebuyers achieve the dream of owning a home, and taking a leadership role in revitalizing neighborhoods,” said Winthrop Watson, FHLBank’s President and CEO. “We are proud to have WSFS as part of our membership.”
About WSFS Financial Corporation
WSFS Financial Corporation is a multi-billion dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest, locally-managed bank and trust company headquartered in Delaware and the Delaware Valley. As of March 31, 2016 WSFS Financial Corporation had $5.7 billion in assets on its balance sheet and $13.1 billion in fiduciary assets, including approximately $1.2 billion in assets under management. As of March 31, 2016, WSFS operates from 63 offices located in Delaware (44), Pennsylvania (17), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking, cash management and trust and wealth management. Other subsidiaries or divisions include Christiana Trust, WSFS Wealth Investments, Cypress Capital Management, LLC, Cash Connect®, WSFS Mortgage and Arrow Land Transfer. Serving the Delaware Valley since 1832, WSFS Bank is the seventh oldest bank in the United States continuously operating under the same name. For more information, please visit wsfsbank.com.
About FHLBank Pittsburgh
As an intermediary between global capital markets and local lenders, FHLBank Pittsburgh provides readily available liquidity, as well as affordable housing and community development opportunities, to member financial institutions of all sizes in Delaware, Pennsylvania and West Virginia. The Bank is part of the Federal Home Loan Bank System, which was established by Congress in 1932 and serves as a reliable source of funds for housing, jobs and growth in all economic cycles. To learn more, visit www.fhlb-pgh.com.