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WSFS Announces Formation of WSFS CARES Foundation to Further Bolster Community Support
WILMINGTON, Del., June 09, 2021 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, announced the merging of the
About this update from Wsfs Financial Corporation
[{"type":"text","content":"WILMINGTON, Del., June 09, 2021 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq: WSFS), the parent company of WSFS Bank, announced the merging of the WSFS Foundation and the WSFS Community Foundation to form the WSFS CARES Foundation. The WSFS Foundation, founded in 2003, was the philanthropic arm of WSFS Financial Corporation, while the WSFS Community Foundation, previously the Beneficial Bank Foundation, was founded in 2007, and joined WSFS as part of the acquisition of Beneficial Bank. The combination of these two foundations will allow WSFS to provide even greater support to the Communities throughout the Bank’s footprint. The WSFS CARES Foundation will focus on supporting local nonprofits that provide tools for success, with its key pillars of support as follows: Community investmentsAffordable housingRevitalization and business economic empowermentEducation and leadership developmentStrengthening those in need “For nearly 200 years, WSFS has been deeply rooted in the Communities we serve,” said Rodger Levenson, WSFS’ Chairman, President & Chief Executive Officer. “The formation of the WSFS CARES Foundation will further enhance our efforts to improve our Communities and to promote inclusion and diversity. We look forward to supporting a variety of initiatives, aligned with our Foundation’s pillars. At WSFS, we believe that as we serve, we strengthen, and as we strengthen, we have more opportunities to serve. It’s a virtuous cycle that enriches our organization and our Community.” WSFS has a storied history of supporting its Communities, especially through the work of its foundation. In 2020, the WSFS Community Foundation provided $300,000 in grants to 21 local nonprofits engaged in the fight against COVID-19, WSFS Bank and the WSFS Community Foundation donated $35,500 to provide hundreds of technology devices to area students for online learning during the pandemic, and the Foundations continued planned initiatives throughout the Greater Philadelphia and Delaware region totaling more than $1.6 million in grants. In addition, in March 2021, as part of the combination with Bryn Mawr Bank Corporation, WSFS made a $2 million grant to the WSFS Community Foundation to support underserved communities. About the WSFS CARES Foundation The WSFS CARES Foundation brings WSFS’ mission of We Stand for Service® to life across the c...