Part of the Community Since 1853
In 2012, Beneficial Bank was a “Top Fundraiser” for Alex’s Lemonade Stand Foundation. This year the bank surpassed 2012’s record by raising nearly $10,000 through employee and customer donations. Efforts such as this are reflective of Beneficial’s ongoing commitment to being a good corporate citizen in the greater Philadelphia and Southern New Jersey region.
In the mid-1800s, banks catered only to wealthy businessmen. Without a secure place to store their money, Irish immigrants turned to the Catholic Church to guard their savings. As funds began to grow, priests, particularly the Bishop of Philadelphia, became concerned about the security of the money. Hence, Beneficial Bank was founded in 1853 as a place for the community to safeguard their money. Since that time, we’ve been committed to going into communities we serve in the Philadelphia and South Jersey areas to help safeguard other valuable assets – most importantly, people’s basic life essentials.
There is no more critical need in low-income areas than basic life essentials – food, clothing, medical care, etc. – many of which we take for granted, but are sorely lacking to these communities. Beneficial travels into the poorest sections in the Philadelphia area to ensure not only that the community has what it needs to survive at that particular moment, but also that they have the proper foundation for ongoing sustainability.
While other organizations may write a big check to one or several well-known charitable organizations and call it a day, Beneficial Bank makes a concerted effort to invest significant portions of both budget and volunteer hours, resulting in a commitment to a diverse collection of needy programs across the region. We pride ourselves on this endeavor, but we’re not complacent. Each year, management convenes and aggressively increases our commitment, striving to outperform the previous year’s numbers.
Read the full article in August’s issue of Transactions. Aren’t a subscriber? Visit the Transactions page on this website or call PACB at 717-231-7447 to start receiving the magazine.