WSFS Bank and WSFS Community Foundation Pledge $35,500 to Provide Hundreds of Technology Devices to Area Students for Online Learning

Rhea-AI Summary

WSFS Bank has pledged $35,500 to provide laptops, tablets, and internet devices for students from low-to-moderate income families, addressing the technology gap exacerbated by the pandemic. The funds will assist organizations including United Way of Delaware and KIPP School in Camden, NJ. This initiative aligns with WSFS's commitment to support education and the community, following previous donations totaling $500,000 for COVID-19 relief. The Community Foundation aims to enhance public education and economic growth in underserved areas.

Positive

• Pledged $35,500 for technology devices to support low-to-moderate income students.
• Aligns with WSFS Community Foundation's mission to enhance education.
• Follows previous grants of $300,000 for local nonprofits and $200,000 to CDFIs for small business relief.

Negative

• None.

WILMINGTON, Del., Sept. 17, 2020 (GLOBE NEWSWIRE) -- Today, WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), announced a $35,500 pledge from the Bank and the WSFS Community Foundation to provide laptops, tablets and internet devices for students from low-to-moderate income families throughout the Bank’s footprint.

As the pandemic has impacted school plans and curriculums, and with many districts turning to virtual or hybrid learning methods to start the school year, the need for technology devices for students has increased. The grants will be awarded to the following organizations and schools:

• United Way of Delaware for students in New Castle and Sussex Counties (Delaware)
• Independence Mission School (Philadelphia, Pa.)
• Widener Partnership Charter School (Chester, Pa.)
• KIPP School (Camden, NJ).

“During this time of the year, WSFS typically runs a school supply drive with our Associates giving hundreds of baskets of supplies to schools in the most underserved areas,” said Vernita L. Dorsey, Senior Vice President, Director of Community Strategy at WSFS Bank. “In the current environment, we understand technology is the most needed school supply to ensure every child has the opportunity to participate in online learning. For WSFS, it was the right thing to do, at the right time. This initiative aligns  with the WSFS Community Foundation’s mission and our commitment to serve and help those in need in our communities to live a good life.”

“Delaware, like the majority of the country, has experienced challenges in ensuring children from vulnerable communities have access to the tools necessary to navigate virtual learning in their homes,” said Michelle A. Taylor, President and Chief Executive Officer of United Way of Delaware. “Many families are not in the position to secure the technology necessary for distance learning. Thanks to WSFS, we’ve been able to galvanize resources to place devices in the hands of families that need them most.”

“We are so grateful for the generosity of partners like WSFS Bank and their commitment to the continued education of Camden students during this time,” said Drew Martin, Executive Director of KIPP New Jersey. “Now, more than ever, having access to technology is critical and this donation helps ensure our students have the tools they need to start the school year strong.”   

The WSFS Community Foundation previously provided $300,000 in grants to 21 local nonprofits engaged in the fight against COVID-19. In addition, WSFS Bank provided a $200,000 donation to four community development financial institutions (CDFIs) to utilize for relief grants to help accelerate recovery efforts of local small businesses within the Bank’s footprint.

About the WSFS Community Foundation
The WSFS Community Foundation focuses on supporting quality public education grades K-12, health and human service programs for the homeless and needy, economic and business growth, and art education. Grants are awarded for initiatives that are innovative, creative, sustainable and replicable.

About WSFS Financial Corporation
WSFS Financial Corporation is a multi-billion-dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest and largest locally managed bank and trust company headquartered in Delaware and the greater Philadelphia region. As of June 30, 2020, WSFS Financial Corporation had $13.6 billion in assets on its balance sheet and $20.8 billion in assets under management and administration. WSFS operates from 115 offices, 90 of which are banking offices, located in Pennsylvania (54), Delaware (43), New Jersey (16), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking, cash management and trust and wealth management. Other subsidiaries or divisions include Arrow Land Transfer, Cash Connect®, Cypress Capital Management, LLC, Christiana Trust of Delaware, NewLane Finance, Powdermill Financial Solutions, West Capital Management, WSFS Institutional Services, WSFS Mortgage, and WSFS Wealth Investments. Serving the greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name. For more information, please visit www.wsfsbank.com.

Media Contact:
Kyle Babcock
215-864-1795
kbabcock@wsfsbank.com

FAQ

What is WSFS's recent financial commitment to education?

WSFS Bank has pledged $35,500 to provide technology devices for students from low-to-moderate income families.

Which organizations will benefit from WSFS's donation?

The donation will benefit United Way of Delaware, Independence Mission School, Widener Partnership Charter School, and KIPP School.

How does WSFS's donation impact the local community?

The donation addresses the critical need for technology for students, particularly as schools shift to virtual or hybrid learning.

What previous donations has WSFS made for COVID-19 relief?

WSFS Community Foundation has donated $300,000 to local nonprofits and $200,000 to community development financial institutions for recovery efforts.

What is the mission of the WSFS Community Foundation?

The Foundation focuses on supporting quality public education, health services, and economic growth initiatives.