We Stand Ready to Serve

Information regarding Coronavirus (COVID-19)

We Stand Ready to Serve

WSFS is committed to keeping our Associates and Customers informed and safe. With the ongoing concern about the Coronavirus (COVID‑19), we wanted to update you on steps we have taken.

Our Banking Office Lobbies Have Reopened – we’re here to serve you


At WSFS, we remain focused on the health, safety, and well-being of our Customers and Associates. As the uncertainty of the pandemic continues, we wanted to remind you about the requirements and safety standards we’ve taken while visiting our banking offices, and the resources available for our Customers.

Our team is committed to continuing to do our part to deliver the highest levels of safety and cleanliness at all our locations, and to deliver the Customer service you expect from us. Sometimes that will require closing a banking location out of an abundance of caution, so please visit our banking office and ATM locator to view currently open lobbies near you.

We also encourage you to book an appointment in advance of visiting a banking office, using our same-day Appointment Scheduling Tool, which enables you to schedule an appointment at an open location within two hours. While appointments aren’t required at fully opened locations, it may help to avoid waiting in line when you arrive due to capacity limits around COVID 19 guidelines.

Here’s what you can expect when visiting reopened banking offices.

Health and safety precautions:

  • Reserved lobby hours from 9:00 a.m. ‑ 10:00 a.m. Monday ‑ Saturday for seniors and immunocompromised Customers
  • Associates and Customers will be required to wear face coverings or PPE gear as required by the states of DE, NJ and PA
  • Hand sanitizer available for Customers and Associates
  • Increased cleaning of banking offices, especially high-touch areas like ATMs and doors.

Physical changes to the branches:

  • Decals to demonstrate 6-feet of distance inside and outside, as appropriate
  • Health shields on all teller lines and desks
  • Numbered teller lines and meeting spaces; you will be directed to the appropriate location
  • Fewer Customers inside the banking office at one time.

As a reminder, you can bank with us wherever and whenever you need to using online or mobile banking, at the ATM, or by using myWSFS, which provides the convenience of digital banking with a human touch.



We Stand Ready to Help You


To support Customers directly during this pandemic we are extending the following assistance efforts:

  • Providing borrowers with deferred payment options for consumer, small business and commercial loans
  • Providing SBA disaster assistance for businesses in Delaware, New Jersey and Pennsylvania. WSFS’ Small Business team is also working with state and federal agencies to help launch any new programs quickly to Customers
  • Expedited process for credit line increases for consumers and businesses
  • Increasing remote deposit limits to ensure Customers can deposit checks
  • Implementing the Federal Reserve’s temporary waiver of the monthly limit of six (6) transfers and withdrawals from savings and money market accounts to allow Customers easier access to their savings deposits.
  • Publishing helpful tips and strategies for managing your finances and your business within our Knowledge Center.

Consumer Loan Assistance

Those impacted by COVID‑19 and in need of assistance for a WSFS Consumer Loan, please click here to submit a Consumer Loan Assistance Request Form. All others are encouraged to call our local Contact Center from 7:00 a.m. – 7:00 p.m., Monday – Friday, or 9:00 a.m. – 3:00 p.m. on Saturday and Sunday at 1-(844)-WESTAND.

Ways to Access Your Accounts

  • Online Banking – Access your accounts 24/7. Reminder, to use the mobile app, you must be enrolled in Online Banking. Learn More
  • Mobile App – If you don't already have the WSFS Mobile app, you can download it here. Learn More
  • Snapshot Deposit – An easy way to use a mobile phone to deposit checks into your WSFS account. Learn More
  • Zelle® – A fast, safe and easy way to send money in minutes1 to friends, family and others you trust. Learn More
  • myWSFS – Our secure mobile chat application that enables Customers to communicate with a WSFS Associate. Learn More
  • Call Center – Our Call Center is available seven days a week. Learn More
  • ATM Network – ATMs are available for deposits and withdrawals at all our banking office locations. Our full network includes nearly 500 ATMs for your convenience. Learn More
1 Transactions typically occur in minutes when the recipient’s email address or U.S. mobile number is already enrolled with Zelle.


Ways to Protect Your Accounts


Quick reminder, keeping you and your information safe is our top priority. WSFS won’t ask you to provide any personal information via email, phone or text like social security number, or account numbers. Visit the Security section of our website for more information on how to keep you accounts safe. If you suspect you have been a victim of fraud or if you receive a suspicious communication claiming to be from WSFS, let us know at 1-888-WSFSBANK.

  • 1. WSFS will never call you and ask for your passwords or for verification codes. Hang-up and call us at 1-888-WSFSBANK. We’re here for you and welcome those calls.
  • 2. Check your accounts regularly. Call us immediately if something doesn’t look right.
  • 3. Set-up alerts. Sign-up for alerts online or through mobile to get quick access to any charges or changes to your account.

Free Remote Learning Resources for WSFS Customers and Their Children

As a way to help our communities and Customers who are balancing work and family commitments while so many schools are closed, we are thrilled they can now access 20+ digital courses for students in grades K-12 on critical topics including financial education, mental wellness, compassion, digital wellness, and prescription drug safety.

WSFS’ education partner EVERFI, who helps us offer financial education classroom lessons and WSFS iQ across the Greater Delaware Valley, have opened up their K-12 learning library to all students for FREE in response to widespread school closures.

How It Works:

  • Visit the EVERFI Family Portal
  • Select your state
  • Select your child’s school name
  • Receive the full catalog of age-appropriate courses for your child
  • If you can’t find your child’s school, please contact EVERFI at remotelearning@everfi.com.

We hope you find these resources valuable!




WSFS Community Foundation Partners with Local Charities on Relief Efforts for COVID‑19, Pledges $300,000

Published: 3/19/2020

WILMINGTON, Del., March 19, 2020 (GLOBE NEWSWIRE) -- WSFS Bank today announced a $300,000 pledge from the WSFS Community Foundation to help local charities’ coronavirus relief efforts.

These funds will help provide necessary services to people in the Greater Delaware Valley during this unprecedented time. The pledge will be allocated in $25,000 grants to the following organizations:

  • United Way of Delaware (Delaware)
  • Delaware Community Foundation (Delaware)
  • Family Services of Montgomery County (Montgomery County, PA)
  • Chester County Food Bank (Chester County, PA)
  • Rolling Harvest Food Rescue (Bucks County, PA)
  • Jewish Relief Agency (Philadelphia, PA)
  • Loaves and Fishes (Delaware County, PA)
  • Burlington Food Pantry (Burlington County, NJ)

The remaining $100,000 will be distributed in the months to come to support pandemic recovery efforts throughout our neighboring communities.

“Serving our communities includes partnering with local nonprofits who play a critical role in helping those in need. By providing this grant, we are helping to restore and ensure a better life and brighter future for members of our communities impacted by the pandemic,” said Vernita Dorsey, Senior Vice President, Director of Community Strategy, WSFS Bank.

“We are thrilled with the generous response of so many, so quickly, to the community’s need at this point. WSFS has always been a leader in this region, and their early contributions show that leadership again,” said Stuart Comstock-Gay, Delaware Community Foundation and a partner in the Delaware Collaborative, which has four leading nonprofits coordinating initiatives to respond to the COVID‑19 pandemic in Delaware. The group is coordinating fundraising, grantmaking and volunteer activities.

“Here at JRA we are in the business of reducing hunger and uplifting spirits, and WSFS has always been an enthusiastic partner,” said Jodi Saks, Executive Director, Jewish Relief Agency. “At a time when the need for JRA’s services is as great as we’ve ever seen it, WSFS has come forth with additional emergency funding to allow us to assist the most vulnerable individuals in our community. This funding will enable us to continue to make our deliveries while adhering to the strict safety standards we’ve adopted through the counsel of public health professionals and CDC recommendations. It simply couldn’t happen without the support of WSFS.”

“In this pandemic we have seen an increase in phone calls and food needs. We want to once again thank WSFS for their generosity and being part of our community; they are a true partner,” said Domenic Zulla, Executive Director, Burlington Food Pantry.

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.

What the CARES Act Means to You

We are committed to doing all the right things to keep our Customers and communities healthy and safe, while providing essential banking services to all we serve. That includes offering financial guidance online.

The government has begun to disburse funds from its $2.2 trillion stimulus package. For those expecting their COVID‑19 stimulus check through direct deposit, they will begin posting to accounts on April 15, 2020. We caution Customers to continue to beware of fraud. WSFS won’t ask you to provide any personal information via email, phone or text like social security number, or account numbers.

For more information on stimulus check eligibility and other FAQs, please visit this webpage.


Consumer Benefits from the CARES Act

Government is offering tax credits in the amount of:

  • Individual taxpayers whose earnings are under $75,000 ($112,000 Head of Household) will receive a one-time $1,200 tax credit, set to phase out completely at $99,000.
  • The income thresholds and one-time credit are double for married filing joint taxpayers for $150,000 of earnings receiving a $2,400 credit set to phase out at $198,000.

Ways WSFS Stands Ready to Help

There is nothing for you to do to receive this benefit; if you meet the criteria for eligibility, you will receive a check or direct deposit into your bank account. This will be based on how you filed your taxes or social security benefits with the IRS. If you receive a check, consider depositing it through a WSFS ATM or using our mobile app.


Tips to Avoid Consumer Fraud

Fraudsters are using the CARES Act stimulus program to scam consumers. They are posing as Federal and bank employees, asking consumers for their social security numbers, bank account numbers, bank routing numbers and other identifying information.

The Federal Trade Commission clearly states that “the government will not call to ask for your Social Security number, bank account, or credit card number. Anyone who does is a scammer.” Click here to view the FTC’s fraud prevention tips.

Additionally, WSFS Bank will not ask Customers for full account numbers or our own routing information. If you are solicited for this information, notify us by calling 1-888-WSFSBANK and report it to the FTC.


Consumer Loan Assistance

WSFS has a payment assistance program in place to help with your consumer loans. Those impacted by COVID‑19 and in need of assistance with their WSFS Consumer Loans please click here to submit a Consumer Loan Assistance Request Form.


Mortgage Benefits

The CARES Act states that mortgage companies and banks can provide payment deferrals on federally backed loans for Customers experiencing hardship related to the COVID‑19 pandemic.

Ways WSFS Stands Ready to Help

WSFS already has a payment deferral program in place to help with your mortgage loans. To request assistance with one of your WSFS Consumer Loans, click here.


Retirement Savings Benefits

The CARES Act also waives penalties and makes accommodations for those who need to access retirement savings early like:

  • Retirees don’t have to take the required minimum distribution and can avoid paying taxes.
  • The IRS extended the due date for IRA contributions and plan contributions to July 15 instead of April 15. Also, the package waives the 10% tax for withdrawals for amounts up to $100,000 from all retirement plans and IRAs. But it must be repaid in three years.
  • Loans from retirement accounts increase from $50,000 to $100,000.
  • Up to $300 of cash contributions to non-profits can be deducted on 2020 taxes, regardless of itemization.

Ways WSFS Stands Ready to Help

To learn more about retirement and wealth investments, please reach out to your WSFS financial advisor or call WSFS Wealth at 302-571-6853.

Business benefits from the CARES Act

The $2 trillion government stimulus can help your business – we stand ready to help you access CARES benefits.

The government’s Coronavirus Aid, Relief, and Economic Security (CARES) Act is a sweeping stimulus package designed to provide significant benefits that can help your business during and after this unprecedented time.

WSFS Bank is no longer accepting PPP loan applications. However, as a preferred SBA lender, we stand ready to serve your business and help you navigate the range of benefits available through the SBA. As a reminder, we caution Customers to continue to beware of fraud. WSFS won’t ask you to provide any personal information via email, phone or text like social security number, or account numbers.

Below is a quick guide to accessing benefits and how we can help.


Paycheck Protection Program Loan Forgiveness

At WSFS Bank, we remain committed to helping our Customers navigate the requirements for their Paycheck Protection Program (PPP) loan. Recently, the U.S. Small Business Administration (SBA) provided guidance for the PPP Loan Forgiveness program, and these initial details are below.

Please note this guidance may change – we will provide additional details as they are released by the SBA.

Important Update on PPP Loan Forgiveness

Please check this page for updates to SBA rules and guidance, a modified borrower application form, and a modified loan forgiveness application when they are released by SBA.

The modifications to PPP loan forgiveness include:

  • Reducing the amount of the loan needed to be spent on payroll from 75% to 60%, thus increasing the amount of funds available for other expenses from 25% to 40%
  • Extending the minimum maturity of PPP loans to five years
  • Extending the covered period for using PPP loan proceeds from June 30, 2020, to Dec. 31, 2020
  • Extending the covered period for PPP loan forgiveness from 8 weeks from the date of origination to 24 weeks from the origination date
  • Borrowers who have already received PPP loans retain the option to use an eight-week covered period
  • Extending the deadline for the rehire exception from June 30, 2020, to Dec. 31, 2020
  • The amount of loan forgiveness will not be reduced by a reduction in the number of full-time equivalent employees, if, with respect to the period February 15, 2020, to December 31, 2020, the borrower is able to document in good faith (A) an inability to rehire employees who had been employed on February 15, 2020, and an inability to hire similarly qualified employees for unfilled positions by December 31, 2020, or (B) an inability to return to the same level of business activity at which the borrower was operating before February 15, 2020, due to compliance with federal governmental requirements or guidance set forth between March 1, 2020, and December 31, 2020, relating to standards of sanitation, social distancing, or other worker or customer safety requirements due to COVID‑19
  • The most recent bill revises the deferral period allowing recipients to defer payments until they receive compensation for forgiven amounts. This can be up to 10 months
  • The bill extends the covered period to 24 weeks, meaning the maximum forgivable salary amount would be $46,153 ($100,000/52 X 24).

Please visit the SBA website for additional PPP loan forgiveness details.

Applying for PPP Loan Forgiveness

WSFS Bank is now accepting forgiveness applications for the Paycheck Protection Program (PPP). We have partnered with BDO USA, LLP to process loan forgiveness.

You will need the following information to register and begin using the portal:


  • SBA Loan Number or Lender Loan Number
  • Covered Loan Amount
  • EIN or the last four digits of your Social Security Number


This information is found in the note you signed via DocuSign for your CARES Act PPP Loan.

You will receive an email from us on how to register. If you did not receive an email, or if you have trouble registering, please contact BDO at PPPSupport-WSFS@support.bdo.com. For more information on forgiveness from the SBA, please click here. For detailed registration instructions or to add a delegate (accountant or other person submitting your forgiveness application), please click here.

In addition, here are two videos to help you get started and understand what to expect during the forgiveness process.




As the SBA and Congress continue to discuss PPP forgiveness, there may be additional changes to the forgiveness process for loans $150,000 or smaller. We will provide an update if that happens but encourage Customers with CARES Act PPP loans of $150,000 or less to wait to submit their forgiveness applications until further notification.

Per current SBA guidelines, WSFS has 60 days to submit the application once completed by you to the SBA and the SBA has 90 days to review it and reach a decision on forgiveness. We will notify you by email of status changes to the application.

Please note: for all PPP Loans originated with us after June 30, 2020, a registration e-mail will be sent in early September.

Preparing to Apply for PPP Loan Forgiveness

Determine which forgiveness application you need and when:

  • Review FAQ for Forms 3508 and 3508‑EZ, and determine which PPP forgiveness application form to use
  • Select PPP forgiveness application you should use: Form 3508 or Form 3508‑EZ
  • Determine when you should file your application: After 8-weeks or 24-weeks (“Covered Period” for forgiveness).


Collect the documents you will likely need:

  • Payroll reports for your “Covered Period”
  • Health insurance premiums or costs paid for self-insured plans
  • Employer 401(k)/pension contributions
  • State/local unemployment insurance premiums during the Covered Period
  • Compensation, subject to the limited amounts, to all owner-employees, self-employed individuals and general partners whose compensation must be included on line 9 of Schedule A of Form 3508
  • Payments of Rent on real property or personal property for the Covered Period
  • Payments of Interest on mortgages for the Covered Period
  • Payments of Utilities for the Covered Period
  • Calculate your Loan Forgiveness using the Schedule A worksheet
  • For Form 3508‑EZ filers, you can go directly to the Form 3508‑EZ
  • For Form 3508 filers, you will need to begin with the Schedule A worksheet.

Forgiveness Application Guidance – FTE, Payroll and Non-payroll Documentation

Full Time Employees (FTE)
If you are using Form 3508 EZ and are attesting that:

  • You did not reduce annual salary or wages by more than 25% during the Covered Period compared to the period between January 1, 2020 and March 31, 2020 and;
  • You did not reduce the number of employees or the average paid hours of employees between January 1, 2020 and the end of the Covered Period, then;


Covered Period, or when you submitted the application, if sooner.

Payroll

  • Please provide at least one Form 941
  • If you do not use a third-party payroll provider, please provide evidence of the payroll amounts being paid (i.e. bank statements or canceled checks)
  • If you are a Sole Proprietor, please provide a copy of Schedule C filed for 2019
  • If you are a Partner in a partnership or LLC, please provide a copy of each Schedule K-1(s) filed for 2019
  • If you are submitting health insurance payments or contributions to employee retirement plans, please indicate what portion is employer paid vs. employee paid. The portion that is paid by an employee is not eligible because it is included in their payroll
  • Remember that employer taxes (i.e. FICA, FUTA, etc.) are not eligible for forgiveness. If you are including Employer State and Local taxes assessed on employee wages such as unemployment taxes, please provide the State quarterly business and individual employee wage reporting and unemployment insurance tax filings reported, or that will be reported, to the relevant state.


Non-payroll

  • According to new SBA guidance released on August 24, 2020 rent payments made to a related party who owns the property are limited to the allocable interest on the underlying mortgage. If there is no mortgage, no forgiveness is allowed for related party rent payments (unless the related party is passing the rent on to an unrelated landlord)
  • If you are submitting amounts for utilities or rent, please provide evidence (invoices for utilities or a rental/lease agreement) of the obligation as of February 15, 2020 and evidence that the payments were made. For utilities, the previous month’s payment may be listed on the invoice as evidence. If not listed, please provide bank statements or canceled checks.


If we require additional information or have questions during the application process, we may reach out to you via email or phone. Please ensure the best contact information available is included when submitting your forgiveness application.

Please visit the SBA website for additional PPP loan forgiveness details.


Repayment Terms Under the Paycheck Protection Program (PPP) Flexibility Act

In an effort further assist our Paycheck Protection Program (PPP) borrowers, WSFS Bank has opted to extend the repayment terms of PPP loans under the Paycheck Protection Program Flexibility Act that was signed into law on June 5, 2020. This legislation is intended to make it easier for many businesses to spend their PPP funds in a way that is forgivable.

Below are modified terms, which extends the deferral period to begin making payments on any amounts that are not forgiven. It also reflects some of the changes to the forgiveness calculation, including the following, per the SBA:


  • Submission of Information and Documents: Forgiveness will be subject to Borrower’s submission to Lender of information and documentation as required by the SBA and Lender. At any time as required by the Lender but no later than October 31, 2021, Borrower shall provide Lender with information, in form and substance acceptable to Lender, specifying the amount of forgiveness Borrower requests, together with all documentation required by the CARES Act, as amended, rules and regulations issued by the SBA and/or Lender to evidence and/or verify such information. Required information may include, without limitation:
    • the total dollar amount of payroll costs during the Forgiveness Period and the dollar amounts of covered mortgage interest payments, covered rent payments and covered utilities for the Forgiveness Period to the extent Borrower seeks forgiveness for these costs;
    • the average number of full-time equivalent employees of Borrower per month from time to time as may be required by the SBA to make a determination on the Forgiveness Amount;
    • the total amount of salary and wages for any owners and employees of Borrower from time to time as may be required by the SBA to make a determination on the forgiveness amount; and such further information and documents as Lender or the SBA shall require.
  • Initial Deferment Period: (i) No payments are due on the Loan until the SBA remits the Forgiveness Amount to Lender (or when the Lender or the SBA issues a determination that there will be no forgiveness of the Loan) so long as Borrower applies for forgiveness of the Loan within 10 months of the last day of the Forgiveness Period. (ii) If Borrower does not apply for forgiveness of the Loan within 10 months of the last day of the Forgiveness Period, payments of principal, interest and fees on the Loan will be due beginning on the day that is not earlier than 10 months after the last day of such Forgiveness Period. (The term “Deferment Period” means the date required by 3.C(i) or 3.C(ii), as applicable.) Interest will continue to accrue during the deferment period.
  • Payments from End of Deferment Period through Maturity Date: To the extent the Loan is not forgiven (in whole or in part) during the Deferment Period, the outstanding balance of the Loan, and interest thereon, shall be repaid in substantially equal monthly payments of principal and interest, commencing on the first business day after the end of the Deferment Period.
  • Limited Effect. Except as expressly provided hereby, all of the terms and provisions of the Note and the other loan documents are and shall remain in full force and effect and are hereby ratified and confirmed. The amendments contained herein shall not be construed as a waiver or amendment of any other provision of the Note or the other loan documents.

Tips to Avoid Business Fraud

Fraudsters are using the CARES Act and the Paycheck Protection Program to scam businesses. They are posing as Federal and bank employees, asking business owners and operators for financial and tax information, including bank account numbers and bank routing numbers.

These scams are reportedly being used to “verify” information before disbursing PPP and other SBA loan funds. If you are solicited, do not provide this information. In that event, contact your WSFS business relationship manager directly or notify us at 1-888-WSFSBANK, and report it to the SBA.

The SBA provides additional details regarding scam attempts on businesses, which can be viewed by clicking here.


The CARES Act expanded SBA benefits

The following programs are in place to enable your small business to qualify for larger loan amounts at more favorable terms:

  • SBA Express program maximum increased to $1 million (from $350,000) through December 31, 2020.
  • Economic Injury Disaster Loan (EIDL) program expansion to provide businesses, nonprofits, and self-employed individuals or independent contractors access to low interest loans up to $2 million to pay for expenses that could have been met had the pandemic not occurred. This program is offered through the SBA only.

Visit the US Chamber of Commerce’s Emergency Loans Guide for more resources.


WSFS Bank relief for businesses

WSFS is offering the following relief for small business Customers impacted by COVID‑19:

  • Interest Rate Reductions (Federal Reserve) - All variable interest rate loans will have an interest rate cut effective April 1 due to the Federal Reserve reducing interest rates
  • Payment Relief/Deferment Options - If your business is experiencing challenges during this particularly difficult time, we fully understand and can explore options for your loan.

Contact your WSFS Relationship Manager to discuss how we can help you take advantage of this program.


Additional Options

Also, you are able to apply directly to the SBA for Disaster Relief by visiting this website. The Disaster Relief Loan Program is a direct loan from the SBA and doesn’t involve banks.





Continued Support

We have implemented our business continuity plans across our footprint and are in contact with federal, state and local agencies including the CDC, and are reinforcing best health practices and universal precautions in offices and banking locations.

We are doing all we can to ensure our Customers and Associates remain safe including enhanced cleanings in our Banking Offices, continually wiping down surfaces, providing hand sanitizer, rescheduling non-essential travel and group activities, and implementing our business continuity plans across our footprint.

We are closely monitoring the situation and will evaluate if any updates to our plans are warranted.

Thank you for banking with WSFS and for allowing us to serve you.

We're available at 1-888-WSFSBANK.

Our hours of availability are 7am to 7pm on Monday-Friday and 9am to 3pm on Saturday & Sunday.

Contact Us


Additional Resources