Genesis Housing Corporation was one of five southeastern Pennsylvania-based nonprofit organizations that received a total of $125,000 in donations from WSFS Bank under the State of Pennsylvania’s Neighborhood Assistance Program (NAP). NAP, administered by the Department of Community and Economic Development, promotes community participation and collaboration among residents, nonprofits and businesses to produce outcomes beneficial to the community.
The WSFS donations will support community development, foreclosure prevention, home ownership and a youth achievement program in Chester, Delaware and Montgomery counties. The receiving not-for-profit organizations include the Genesis Housing Corporation, the Boys and Girls Club of Chester, Pa., the Chester Community Improvement Project, theHabitat for Humanity of Chester County, and Clarifi.
“As a community bank, we welcome the responsibility to support the communities where our Associates and Customers live, play and work,” said WSFS’ Shari A. Kruzinski, Senior Vice President and Director of Retail Business Initiatives. “These nonprofit partners are doing important work that benefit communities, individuals and families.”
“WSFS Bank is pleased to be able to be a part of this competitive tax credit donation program,” said Terri Hasson, Vice President and Director of Community Reinvestment. “The Neighborhood Assistance Program provides a framework that drives public/private partnerships that are beneficial to address community needs. We are happy to support these five strong nonprofit organizations in their important work.”
Genesis Housing Corporation will leverage a $50,000 contribution from WSFS to fund projects that will rehab blighted properties, help homeowners improve their own properties, provide financial education and housing counseling services, and pay for façade improvements in a designated neighborhood in Pottstown, Pa. Genesis is collaborating with the Habitat for Humanity of Montgomery and Delaware Counties to increase the impact of the project.
The Boys and Girls Club of Chester, Pa., received $20,000 to support a teen achievement program that addresses societal, educational and employment barriers for 25 at-risk teens in the City of Chester. The program helps youth acquire the education and training necessary to compete in the current employment market, combined with mentoring and community volunteering opportunities.
The Bank also donated $20,000 to the Chester Community Improvement Project for a community stabilization and investment initiative along two blocks in the City of Chester, Pa. The funds will be used to work with neighborhood residents in the 500 to 700 blocks of East 23rd Street to maintain an attractive community, stabilize property values, and increase homeownership.
Increasing access to affordable housing will be the goal of the Habitat for Humanity of Chester County, which received a $20,000 donation from WSFS to support the development of three of 45 new affordable single-family homes in Coatesville, Pa. With the completion of this new housing development, Habitat for Humanity of Chester County expects a decrease in vacancy rates by 1/10th of a percentage point in Coatesville.
Clarifi will use its $15,000 contribution to provide mortgage foreclosure prevention counseling sessions to low-to-moderate income families in the townships of Folcroft, Darby and Upper Darby, Pa., as part of a collaboration with the Delaware County Council and the Delaware County Sheriff’s Office. The foreclosure prevention program offers distressed homeowners a temporary stay on a sheriff’s sale if homeowners work with a certified Clarifi housing counselor to pursue foreclosure avoidance options.
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, 2018, WSFS Financial Corporation had $7.0 billion in assets on its balance sheet and $19.1 billion in assets under management and administration. WSFS operates from 77 offices located in Delaware (46), Pennsylvania (29), 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, West Capital Management, Powdermill Financial Solutions, Cash Connect®, WSFS Mortgage and Arrow Land Transfer. Serving the Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit wsfsbank.com.