‘PennCares Pay’ acknowledges bank employees for their essential efforts meeting customer and community financial needs during pandemic
PERKASIE, PA (June 2020) – Penn Community Bank, the largest mutual bank headquartered in Southeastern Pennsylvania, is saying ‘thank you’ to its more than 350 employees with PennCares Pay. This new recognition program provides an additional week of base salary for all team members. PennCares Pay highlights the bank’s commitment to its team members who have gone above and beyond in response to the coronavirus pandemic.
“I’m proud of Penn Community Bank’s response to this unprecedented situation. Our team members moved quickly to implement internal plans to protect the financial and physical wellbeing of our staff and customers. As the impact deepened, we rolled out relief measures for personal and business customers, and donated tens of thousands of dollars to nonprofit organizations responding to those in need,” said Jeane M. Vidoni, president and CEO of Penn Community Bank. “Being there for the customers and communities we serve – in good times, and bad – is part of who we are. Penn Community Bank team members are integral to our mission. The program, PennCares Pay, is our way of saying ‘thank you’ to them.”
“As the region’s largest mutual bank, we are proud to serve our role as an ‘essential business’ – remaining open to meet the financial needs of our customers and community,” said William Larkin, chair of the Penn Community Bank board of directors. “Just as we support others during this difficult time, it is equally important that we recognize our team members. PennCares Pay is connected to the strength of our organization; as a mutual institution, it is our mission to provide support, and we have the financial soundness to do so.”
PennCares Pay is born of the people-first culture and brand that defines Penn Community Bank. In addition to serving the banking, lending, and investment needs of the community during this crisis, Penn Community Bank has been a leader in the response to the COVID-19 outbreak:
- In March, Penn Community Bank partnered with United Way of Bucks County on the Bucks County COVID-19 Recovery Fund, including a $25,000 initial contribution. The relief fund is being used to assist those experiencing a financial crisis as the result of the pandemic with basic needs such as food, shelter, utilities, and transportation. To learn more and to contribute to the recovery effort, visit http://www.uwbucks.org/COVIDrecovery.
- In April, Penn Community Bank donated $30,000 to Bucks County Health Improvement Partnership (BCHIP) to establish the Penn Community Bank Healthcare Operational Priority Emergency (HOPE) Fund which covers the cost of care for some of the community’s most vulnerable residents. In concert with Bucks County hospitals and local officials, the HOPE Fund provides resources to support individuals who are unsheltered due to COVID-19, these may include shelter clients or those who cannot safely return to group homes. Costs may include expenses such as space for safe isolation during illness, essential medical supplies, or personal protective equipment (PPE) for clients and staffing. In addition, funds are used to address and meet the rapidly changing needs of the Bucks County community brought about by the pandemic.
- In early May, Penn Community Back donated 1,400 N95 masks to the Bucks County Emergency Service Center as they respond to the coronavirus pandemic.
- In late May, Penn Community Bank recognized hundreds of area high school and college graduates as part of Operation Graduation – an initiative to celebrate the class of 2020 as commencements and traditional graduation plans have been interrupted by the coronavirus pandemic. The bank delivered graduation gifts to high school and college graduates throughout the region, representing more than 35 local high schools, technical schools, and universities – including Cairn University, home to Penn Community Bank’s first on-campus banking branch.
About Penn Community Bank: Penn Community Bank holds more than $2 billion in assets, employs more than 350 people, and offers banking, lending and investments at 24 bank branches and two administrative centers throughout Bucks and Montgomery counties, Pennsylvania. As an independent, mutual financial institution, Penn Community Bank is not publicly traded and operates with its long-term mission in mind: to help businesses grow and prosper, to provide financial resources to individuals and families throughout their lifetimes, to strengthen the local economy, and to partner with local organizations to act as a catalyst for positive growth in every market it serves.
