Banking & Finance
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Marjorie the Berwyn Bovine Champions Local Businesses During Her Appearance at Malvern Bank
Marjorie the Berwyn Bovine, an ambassador for the community’s small businesses, has been spotted along the Lancaster Avenue corridor throughout the summer. She has stopped at a number of businesses, including Malvern Bank, National Association, to remind everyone of the importance of shopping and eating locally. Marjorie was recently seen at the bank’s Berwyn branch,…
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Wells Fargo Closing Broomall Branch as Part of Belt-Tightening Effort
Wells Fargo & Co. plans to close 54 more branches — including a branch at 2701 West Chester Pike in Broomall, writes Jeff Blumenthal for Philadelphia Business Journal. The bank is trying to cut billions of dollars in costs to stay competitive with rivals. It’s also shutting down a site in Kutztown in Berks County…
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Citadel Unveils New Brand, Celebrates a Bright Future for the Community
Throughout the past 15 years, Citadel Credit Union has evolved to serve a broader region across the Greater Philadelphia area and, with more than $4 billion in assets, has grown to become one of the nation’s 60-largest credit unions. Now, Citadel has introduced a new brand identity — complete with a redesigned logo, refreshed color…
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Citadel Offers Tips to Increase Your Cybersecurity
By Citadel As technology advances, you can be sure that identity thieves are not far behind. Here are some common methods cyberthieves use to steal your personal information and how you can increase your security. Credential Stuffing Credential stuffing is a cybercrime tactic in which criminals use login credentials that were previously exposed due to prior security…
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‘Exact Change Only’. Local Businesses Struggle With Coin Shortage
Of all of the consequences of COVID-19, a national coin shortage wasn’t one we saw coming, writes Victor Fiorillo for phillymag.com. So why is there a national coin shortage? According to the U.S. Federal Reserve, the COVID‐19 pandemic has disturbed the normal circulation patterns for coins. Cash transactions declined significantly during the COVID-19 shutdown. That…
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PNC Bank Is Closing 19 Branches, Including Its Branch in Media Borough
In PNC Bank’s biggest consolidation in 2020, another 19 branches will close, including one in Media, writes Patty Tascarella and Jeff Blumenthal for The Philadelphia Business Journal. According to a Feb. 14 filing with the Office of the Comptroller of the Currency, PNC Financial Services Group intends to close 1114 W. State St. in Media,…
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Malvern Bank Donates First-Quarter ATM Fees to Local Nonprofits
Malvern Bank, National Association is continuing to donate revenue from monthly ATM fees to local nonprofits on a quarterly basis. Based upon its fiscal-year, first-quarter ATM revenues, the bank made another donation totaling $894 to the following nonprofits: Valley Forge Park Alliance received $408 from the Berwyn branch’s ATM receipts The Paoli Fire Company received…
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Radnor-Based Lincoln National Makes Fortune 500 List
Radnor-based Lincoln National is once again one of the highest-ranked Philadelphia area companies on the Fortune 500 list, coming in at No. 188, writes Kennedy Rose for the Philadelphia Business Journal. The company dropped one spot compared to last year, but still managed to preserve its place in the top 200 of the annual list…
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Malvern Bank Helps Decades-Old Art Show Respond to COVID-19
What happens when a nonprofit’s most important annual fundraiser is closed because of the COVID-19 pandemic? That is the situation faced by the nation’s approximately 1.5 million nonprofits. The coronavirus has altered the lives of every American, and many businesses – including nonprofits – are facing dire economic repercussions as a result. “Many nonprofits are…
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Delaware County Hosts May 4 Presentation on Available Business Resources During the Pandemic
Delaware County is hosting a free online presentation to the business and workforce community on Monday, May 4, 3:30 p.m., outlining resources and information to help businesses with the current pandemic crisis. It will focus on: The Delco Strong Program Assistance with Unemployment Benefits Updates from the Delaware County Chamber of Commerce and the Commerce…
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Delaware County Elected Officials Put Forth Bi-Partisan Effort to Reinstate Popular Business Loan Program
A popular state business loan program has run out of money but a group of bipartisan Delaware County elected officials are asking the state to re-capitalize the program, writes Pete Bannan for the Daily Times. Thirteen Delaware County businesses successfully applied to the COVID-19 Working Capital Access Program before money ran out, receiving a combined…
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Citadel Rolls Out COVID-19 Loan Relief Program to Support Members in Need
Due to the COVID-19 pandemic, Citadel has introduced a Loan Relief Program to help alleviate financial struggles for members. The program aims to support all Citadel members in need due to COVID-19. Through the program, Citadel has automatically pushed back due dates for members with the following types of loans for at least two payment…
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Malvern Bank CEO Warns About Another Type of Virus Businesses Should Be Concerned About
While everybody in the nation is rightfully concerned about the coronavirus pandemic, companies’ audit committees and boards should also make sure they are better prepared for a different kind of virus – cyberattacks on their data networks, writes Anthony C. Weagley, the CEO of Malvern Bank, National Association, for The Pottstown Mercury. Recently, Malvern Bank…
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Paycheck Protection Program Application
By Brinker Simpson We are trying to keep our clients and business colleagues informed of programs that may be beneficial to them and could help them through this challenging time. We are unveiling a special website where you will be able to read the various articles we’ve written and links to resources. This site is…
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Pennsylvania Offers COVID-19 Small Business Loan Plan
Small business owners can now sign on to Pennsylvania’s COVID-19 Working Capital Access Plan to qualify for interest-free loans up to $100,000. The program applies to businesses with 100 employees or less. The program is administered through the local Certified Economic Development Unit (CEDO), a network of economic development organizations, including the Delaware County Commerce…
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Here’s How Government Is Cushioning the Pandemic for Businesses, Employees
Public health efforts to stop the spread of COVID-19 by closing businesses is causing economic upheaval in the business community and leading to worker layoffs. Government efforts are now underway to mitigate some of the damage through loans, extension of benefits and tax credits. On March 17, the Delaware County Chamber of Commerce hosted a…
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Seedcopa Alert: Coronavirus Assistance for Small Businesses
Seedcopa, an affiliate of the Chester County Economic Development Council is sharing information on possible assistance for Delaware County small businesses in the wake of Covid-19. SBA Administrator Jovita Carranza has issued a statement in response to the President’s address to the nation on coronavirus and efforts to support small businesses. She outlined the process for…
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Find Out Which Delco Community Made a Top 10 Nationwide List for Paying Down Credit Card Debt
Drexel Hill made WalletHub’s top 10 list of communities nationwide that are paying down their debt, coming in ninth, reports the personal finance website. Average credit card household debt in Drexel Hill in 2019 was $12,605, a decrease of $1,978 over the previous year. Total credit card debt in Drexel Hill dropped by $21,630,773, with…
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