Leading mutual bank honored by Philadelphia Business Journal as 2021 ‘Faces of Philanthropy’ honoree
PERKASIE, Pa. (March 2021) – Penn Community Bank, the largest mutual bank headquartered in eastern Pennsylvania, is pleased to announce that it has been honored as a 2021 Faces of Philanthropy award winner by the Philadelphia Business Journal. The award recognizes the bank’s work with the United Way of Bucks County on the Bucks County COVID-19 Recovery Fund as a “difference-making partnership” between a local business and a nonprofit organization.
“At Penn Community Bank, we believe in the power of Greater Good Banking. That means more than just being a financial services provider, it means stepping up when our communities need it the most,” said Jeane M. Vidoni, president and CEO of Penn Community Bank. “Working with the United Way of Bucks County and seeding funds to establish the Bucks County COVID-19 Relief Fund was an extension of that foundational belief. I’m proud to receive this recognition and spotlight the power of partnerships between businesses and our nonprofit neighbors.”
“We’re proud to be a 2021 Faces of Philanthropy honoree for the region. We are particularly grateful to be named for our partnerships with Penn Community Bank. Through words and actions, Penn Community Bank consistently shows a deep commitment to the greater good,” said Marissa Christie, president and CEO of United Way of Bucks County. “We are fortunate to have Penn Community Bank as a key collaborator. It means a lot to work with a business that shares our values and our commitment to community.”
“One of the biggest takeaways of the past 12 months is the importance of partnerships. As the pandemic took hold, businesses and nonprofits teamed on creative ways to give back to communities across the Philadelphia area. For some, it was a continuation of existing partnerships. For others, the initiatives centered around new efforts,” said Ryan Sharrow, editor in chief of the Philadelphia Business Journal. “The Philadelphia Business Journal is proud to recognize 31 of those difference-making partnerships as our 2021 Faces of Philanthropy honorees.”
In March 2020, as the coronavirus pandemic swept through Pennsylvania, Penn Community Bank’s leaders knew the pandemic and measures put into place to slow its spread would have dire consequences for our communities. In line with the bank’s commitment to Greater Good Banking and foundational believe in the role of community in financial and individual relationships, Penn Community Bank coordinated with United Way of Bucks County to create the Bucks County COVID-19 Recovery Fund – seeded with $25,000 from each organization. Once established, the fund solicited donations from local businesses and donated funds were given as grants to United Way’s member agencies to help them deliver COVID-19-related services to clients. The Fund has no administrative expenses; all money raised goes directly to help people with short-term and long-term financial recovery.
Today, the fund has provided more than 80 grants totaling more than $480,000 to more than 40 organizations. These grants have helped more than 40,000 county residents, including 13,000 children and 6,000 seniors.
About Penn Community Bank: Penn Community Bank holds more than $2.5 billion in assets, employs more than 300 people, and offers banking, lending and investments at 23 bank branches and three 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.
About United Way of Bucks County: Since 1952, UW Bucks has been improving lives in Bucks County by uniting donors, advocates, and volunteers around the common good. United Way programs focus on the building blocks for a good life: a quality education, a stable income, and good health. For more information, call 215.949.1660 or visit www.uwbucks.org.