PACB Letter to House & Senate Leadership
& Key Committee Chairs

February 7, 2005

The Honorable ...
Main Capitol
Harrisburg, PA 17120

Dear Senator/Representative ...:

I write to you as the Chair of the Legislative Committee of the Pennsylvania Association of Community Bankers, consisting of two hundred community banks that serve and reinvest in our local communities. Our committee supports PHEAA and applauds its decision to remain independent.

For more than a generation, PHEAA has been a Pennsylvania success story known for its genuine commitment to Pennsylvania families and its drive for superb and responsive customer service. Our association and our members have always enjoyed a good relationship with PHEAA and their 2,300 employees who share PHEAA’s focus on what is good for the Commonwealth, our citizens and the public interest. Working together, we have helped many families realize college dreams and better opportunities.

We are very concerned that this same record of service and commitment will end if the Legislature allows PHEAA to be acquired by Sallie Mae.

While the Sallie Mae offer may have some short-term attractiveness in terms of its benefits to the General Fund, we hope you join us in recognizing the lasting and proven benefits of maintaining PHEAA as a true Pennsylvania treasure.

Thanks so much for your consideration. Our association stands ready to serve as a resource to you and your staff as you consider this very important matter.

Sincerely,

Ronald H. Frey
Chair, Legislative Committee