NEW YORK--(BUSINESS WIRE)--Wolters Kluwer’s Compliance Solutions business has named Washington Financial Bank, based in Washington County, Pennsylvania, as the winner of its 2020 Community Impact Award. The award honors financial institutions for the breadth and innovative application of community development programs to benefit low- and moderate-income communities in which they do business.
The announcement was made at the company’s 24th annual CRA & Fair Lending Colloquium held on December 7.
Washington Financial Bank actively supports ALL (“A Little LIFT”), an initiative developed by a regional non-profit, Blueprints, that focuses on mobilizing public and private resources to deal with the causes of poverty, not just its impact. Earlier this year, the bank formed a committee to directly help address poverty through grants administered by a group of bank employees, giving them a direct say on the bank's charitable giving. The Washington Financial Little LIFT Committee is comprised of 18 bank employees at all levels who review program applications. As of late October, the Committee has provided 51 grants to support community individuals’ needs that range from providing baby clothing and critical car repairs to COVID-19 relief funding. All funding is provided through The Washington Financial Charitable Foundation.
“The Washington Financial Bank partnership with Blueprints’ “A Little Lift” project is an opportunity for us to make an impact through donations that can easily prevent small barriers from becoming overwhelming obstacles for local families, while making our community stronger as a result,” said Brooke Gawlas, CRA Officer, at Washington Financial Bank. “The need for this kind of focused support has become especially apparent in our community since the onset of the pandemic and the resulting lay offs, job losses and other major disruptions to people’s lives.”
In 2019, the bank won a Wolters Kluwer Community Impact Award for its work in supporting three community development initiatives—“The Education Partnership;” “Rebuilding Together Pittsburgh;” and “Making Money Make Sense” programs—that are helping enrich the communities in which it operates.
“The kind of impact that programs such as these are having is truly remarkable and an inspiration to the broader banking industry in demonstrating how banks can positively affect communities where they operate in very meaningful ways,” said Steven Meirink, Executive Vice President and General Manager, Wolters Kluwer Compliance Solutions. “We are honored to recognize Washington Financial Bank’s ongoing commitment and caring toward those they serve.”
Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks and credit unions, insurers and securities firms. The business, which sits within Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business. Compliance Solutions’ CRA Wiz and Fair Lending Wiz help financial institutions manage cost and risks while managing their CRA and fair lending compliance obligations.
Wolters Kluwer’s GRC division provides an array of expert solutions to help U.S financial institutions manage regulatory and risk obligations, including customized offerings to address COVID-19 challenges. Compliance Solutions’ Paycheck Protection Program Supported by TSoftPlus™ helps lenders’ customers access critical stimulus funding. Wolters Kluwer Lien Solutions’ iLien for Main Street helps lenders optimize their due diligence and lien management efforts when securing loans for small and medium-sized businesses under the Main Street Lending Program.
About Wolters Kluwer Governance, Risk & Compliance
Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.
Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2019 annual revenues of €4.6 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.
About Washington Financial Bank
Founded in 1899, Washington Financial Bank is proud to have remained the largest locally owned and managed financial institution in Washington County, PA. With assets of over $1 billion and a network of 11 branch offices and three loan centers, Washington Financial Bank is well equipped to meet the evolving needs of its communities. For more information about Washington Financial Bank, please visit www.mywashingtonfinancial.com. Member FDIC.
