Pilot program helps eligible residents increase financial literacy, improve credit scores, & secure low-interest used car loans
PERKASIE, Pa (September 2022) – Penn Community Bank, the largest independent mutual bank in eastern Pennsylvania, is partnering with United Way of Bucks County, the County of Bucks, and Credit Counseling Center, to launch a new financial stability program called LIFT United. The pilot program aims to help eligible residents increase their financial literacy, improve their credit scores, and secure low-interest used car loans.
LIFT United, which stands for “Learn to Invest in Your Future and Thrive,” is designed to support ALICE (Asset Limited, Income-Constrained, Employed) households in Bucks County. Credit Counseling Center will offer free financial literacy courses and one-on-one budget coaching for program participants. Successful participants will receive a down payment match of up to $1,000 and a low-interest car loan secured by United Way. All loans are offered by Penn Community Bank.
“At Penn Community Bank, we’re committed to helping families reach their financial goals – including those in the ALICE population,” said Bernard Tynes, Senior Vice President and Director of Marketing at Penn Community Bank. “LIFT United is an innovative way to help working families remain financially stable now and in the future. We’re proud to partner with United Way, the county, and Credit Counseling Center on this exciting new initiative.”
“It’s a challenging time for our ALICE families,” said P.J. O’Brien, Impact Direct for Financial Stability at United Way of Bucks County. “The pandemic hit them hard, and now they’re struggling to keep up with the rising cost of living. LIFT United will ensure that they have safe, reliable transportation to get to work – at a manageable cost.”
All applicants to LIFT United must be referred by United Way’s Member Agencies. For eligibility requirements and more information, contact P.J. O’Brien at email@example.com.
About Penn Community Bank: Penn Community Bank holds more than $2.6 billion in assets, employs more than 300 people, and offers banking and lending services at 20+ 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.