While we often stress how saving can help lead to a better life, it is just as important to remember to be a giver as well. Why? Giving back may be one of the most important principles in life. Those who are givers often receive the rewards of giving in many ways other than just financial gain….
The pandemic has had an unprecedented impact on the communities in which we live and work. As the needs of many have increased, so too have the hurdles for providing support to nonprofit and community organizations in a safe, socially distanced way. At WSFS, we believe it is integral to do more than just serve…
Back-to-school season is here, and this year is different than any other in our lifetimes. The impact of COVID‑19 on our schools last spring was swift as districts had to quickly pivot to remote learning as the pandemic intensified. With a couple months to assess resources and gain feedback from faculty, staff, parents and students, districts…
It starts with you. With retirement a mere five to ten years away, many Americans will start to panic thinking (perhaps appropriately) that they are not on track to retire comfortably. In the decade that I have been an advisor, I’ve seen many unique stories that all share a common thread – the desire to…
Now, more than ever, communities and their nonprofit organizations need support. Social distancing has provided an extra hurdle for nonprofits to assist those in need, but where there’s a will, there’s a way. If you want to give back to charities and/or the community, all you need to do is look around for various opportunities to…
Think back to the days leading up to your wedding – the tension, the fear and then the relief when the final vows were spoken. It turns out that the homebuying process is a lot like that for many people. In fact, 64 percent of those surveyed in a recent study by WSFS Mortgage said the…
Corynn Ciber, Senior Vice President & Chief Digital Officer at WSFS Bank, first became aware of the Anthony Penna Charitable Fund’s work in the Delaware community a few years ago. The organization is dedicated to the life of Anthony Penna, who tragically passed away following a car accident in 2017 but helped save the lives of…
In this new normal, businesses need to be more certain than ever about their cash flow. Knowing how much cash is coming in – and going out – allows you to evaluate your business’ financial standing and make necessary operational decisions to keep your business healthy. One way to make this happen is through smart safe…
Pastor Lottie Lee-Davis of the Be Ready Community Development Corporation first began working alongside WSFS in about 2016 through serving on the Steering Committee for West Side Grows Together with WSFS Associate Jeff Graf, a Retail Office Manager. In the four years since, the relationship between WSFS and Be Ready – a community service organization providing…
By definition, confidence is “a feeling or consciousness of one’s powers or of reliance on one’s circumstances.” People tend to exhibit confidence in their own abilities based on many factors, including knowledge and experience. Sometimes confidence is felt and observed in the moment, while at others it is seen over time through positive results. Financial confidence,…
School is out for summer! While it’s a time to rejoice for children, it can leave many parents wondering how to keep their kids learning in between ice cream cones and dips in the pool. Now is as good a time as ever to teach children about financial literacy, a topic that can often be overlooked…
For many students, internships help forge a path for their future careers, enabling them to gain hands-on experience and determine what type of work inspires them. At WSFS Bank, interns are given the opportunity to take those experiences to the next level, contributing to projects that impact the Bank and assist Customers with their banking needs. “Our…
Internships provide an opportunity to take principles learned in the classroom and apply them in the real world, while gaining experience that can’t be found in a textbook, to build the foundation for future careers. WSFS Bank has remained committed to finding a way to provide these invaluable learning experiences to students from across the…
If you’re emerging from your home after the COVID-19 shutdown wanting to buy a new one, you aren’t alone. Fifty-six percent of residents in Delaware and the Greater Philadelphia region are interested in buying a home this summer and fall, according to a recent WSFS Mortgage Regional Study. Historically low interest rates, changing work habits and…
Introduction When approaching the age to begin required minimum distributions from retirement accounts, many investors may benefit from a Roth conversion. A Roth conversion is the process of taking funds from a Traditional/Rollover Individual Retirement Account (IRA) and “converting” such funds to a Roth IRA. Depending on an investor’s tax bracket, a Roth conversion may…
Rents are up, mortgage rates are down, and pandemic restrictions are easing. It’s no wonder that so many people across the region are looking to buy their first homes. Fifty-six percent of people living in Delaware and the greater Philadelphia region are interested in buying a home this summer or fall, according to a recent WSFS…
The sharp downward turn in equity markets due to the pandemic and eventual global quarantine caused volatility to spike to a record high. Abrupt increases in volatility seem to always elevate interest in a segment of investing that is more fantasy than reality: day trading. The allure of making quick profits in the stock market…
As a longtime small business owner, Ed Tropeano of NewsWatch TV and Bridge Communications LLC knows a thing or two about the rewards and challenges many of his clients experience when running their companies. “I started Bridge Communications in the Washington, DC area in 1989 as a solely-owned video production and communications company,” says Tropeano. “As…
It can be overwhelming to think about the amount of money you’ll need for a big expense, like paying for a wedding or making a down payment on your first home or a car loan. A great place to start is calculating how much you’ll need to save each month to meet your goal. For example,…
Whether you’re new to banking or are just looking for a refresher on banking basics to enhance your money management, we’re here to help. Here’s a quick guide to checking and savings accounts as well as the tools you can use to access your money safely and securely like debit and credit cards, online and…
These truly have been unprecedented times. COVID-19 will continue to impact businesses and communities in ways we have not experienced in generations. Now that businesses have developed their reopening plans, it’s a good time for all of us to evaluate these changes while still providing employees (at WSFS, we call ours Associates) and customers with…
WSFS Bank surveyed 1,007 Delaware and Greater Philadelphia area residents in February and May 2020, finding that while people are confident they are prepared to buy a home and get a mortgage, they also have anxiety about the process. View the infographic below to learn more about the study’s key findings.
Across Delaware and the Greater Philadelphia region, WSFS Associates are stepping up and branching out as they live the mantra, “We Stand for Service.” From volunteering to work overtime and pitching in at various branch locations to providing a jump start for a dead car battery, Associates are doing whatever they can to help Customers. “It’s been…
As businesses reopen and face new ways to operate and generate revenues this summer and beyond, many are looking for guidance as they develop new growth strategies, discover new cash flow resources and consider an SBA program for support. We spoke with Zoe Combs, who joined WSFS Bank as Vice President, SBA Relationship Manager in March…
In this new era of social distancing in public, people are turning to using their credit cards, mobile apps and other forms of contactless payments while shopping. Whether through the convenience of online shopping or delivery or curbside pickup at local small businesses, the safety, benefits and rewards of using low-touch forms of payment have increased…
With living rooms taking the place of classrooms as learning continues online, many parents find themselves serving as a teacher now more than ever. An important topic to teach all children – and one that can often be overlooked – is financial literacy. We asked Bob Juliano, Vice President and Director of Community Development at WSFS…
You’ve been dreaming about it, thinking about it, and now the time has come to start looking for your new home. It’s an exciting moment in your life, but then reality sets it – you need to get a mortgage. And a realtor. And the stress begins. The reality is, buying a home is one of…
As financial institutions develop innovative ways to protect the accounts of businesses large and small, so to do criminals work to develop their own methods. According to Accenture, 45 percent of cyberattacks are aimed at small businesses but only 14 percent are prepared to defend themselves. Meanwhile, highly intelligent hackers with sophisticated techniques like keylogging, malware,…
The coronavirus pandemic has caused lots of uncertainty and change in both our personal and business lives. It has forced us to adapt to a new normal, perhaps changing the way business gets done in the future. While things remain fluid, there are some steps companies should consider to keep payment processing moving forward and efficient….
What started as a hobby became a passion, a way of life. For Glen and Karen Smith, owners of Route 113 Boat Sales and Service in Selbyville, Del., being on the water also became the entrepreneurial itch they needed to scratch. “We were living in Severn, Md. and working in the corporate IT world,” explains Glen. “We have…
With the world still mired in an unprecedented pandemic and social distancing is the new norm, people find themselves adjusting the “old way” of handling everyday tasks in order to stay safe. Banking and financial services transactions are no exception, and now is as good a time as ever to find easy, fast and safe ways…
As businesses continue to shift to digital payment systems for in-store and online transactions, fraudsters and financial institutions (FIs) are caught in a game of cat and mouse. While a layered or multi-step approach is always key to mitigating the risks of payment fraud, and as FIs innovate to protect their customers, so too do the…
Erica McMullen was all set to start her new job as Senior Credit Officer, Credit Administration at WSFS Bank when she found out her first day was also the day the Bank would be moving most employees to remote work to help combat the COVID-19 pandemic. While starting at a new organization can present its challenges,…
“I love the ‘get-it-done attitude’ at WSFS,” says Jake Grothaus, a personal banker in the bank’s Devon, Pa., branch. That mindset went into action recently at the branch. With a pandemic causing an unprecedented situation nationwide, it was far from business as usual for both Customers and WSFS Associates. That wouldn’t deter the branch from doing whatever it…
During these unprecedented times it is unsettling to watch the news surrounding the stock market, but it is also important to maintain perspective – history has shown that the market will recover. One of the biggest risks investors face over time is overreacting to events and market volatility, which can negatively impact their savings. Our…
As the Federal Trade Commission (FTC) reports a dramatic increase in fraud complaints related to COVID-19, now more than ever, businesses must protect themselves and their customers from the realities of payment fraud. The FTC, the government agency charged with consumer protection and ensuring business practices remain fair, has already received nearly 8,000 complaints from…
Someone once said: character is not built during a crisis, it is revealed. WSFS Bank continues to stand by its Customers and Associates, even during these uncertain times when nationwide unemployment is on the rise as a result of COVID-19. Imagine that your start date for a new job in a different industry is in the…
By now, you’ve probably stashed away some extra non-perishable food, cleaning products and toilet paper as we ride out the COVID-19 pandemic. The past months have forced us to adjust how we obtain and use essential products and services as we take extra steps to protect the health of our families, friends and communities. Many people…
The new Federal stimulus package, or CARES Act, provides many Americans with much-needed relief from the COVID-19 pandemic. In addition to giving people additional funds to weather the financial storm that COVID-19 has caused, the stimulus provides tax relief for retirement savers and retirees. Unfortunately, it has also provided a ripe opportunity for fraudsters to take…
The COVID-19 pandemic has increased the focus of banks on the impact of fixed costs. The unfortunate axiom is that even though the volume of banking activities has decreased, fixed costs remain constant regardless of volume. Post the 2009 financial crisis, banks have done a good job at reducing fixed costs by relying on trusted…
The impact of COVID-19, or the coronavirus, goes beyond health and hygiene. Staying healthy during the pandemic remains first and foremost, of course. But the virus’ impact also reminds us that our personal finances need a health check, too, and that we need to be more diligent than ever to protect our financial wellbeing. Below are…
There’s lots of advice out there on how to use credit cards, and much of it is conflicting. To make matters more confusing, the methods credit bureaus use to calculate your credit score are not exactly transparent. However, there some basic tips to keep in mind that will help keep you use credit to your…
The home buying process can seem a little overwhelming – but not when you wield the tools of a smart house hunter. Purchasing your first home is a major life milestone, and everyone’s experience differs from person to person. Understanding the basics of how this process works will make the process go a lot smoother….
Maintaining a secure work environment and minimizing fraud are key for business owners today. One commonly perpetrated type of fraud can be especially costly: business email compromise, more commonly known as BEC. BEC involves a request for a transfer of funds or payment that comes from a hacked or fake account. Often, the sender’s domain…
The coronavirus pandemic has caused lots of uncertainty and change in both our personal and business lives. It has forced us to adapt to a new normal, perhaps changing the way business gets done in the future. While things remain fluid, there are some steps companies should consider to keep payment processing moving forward and…
Effective cash management is a priority for every small business. As most small business owners can attest, it’s important to know where every dollar is coming from and where it’s going by using the right products, services and controls. Even though transaction types can differ depending on your industry, some general guidelines for managing cash…
Today’s mobile devices are as powerful and connected as any personal computer. Beyond simple text messaging and photo taking, smartphones and tablets can be used to stream video, shop and navigate to a destination. There’s an app for just about everything. It’s important to take the same precautions on your mobile device that you would…
For many, the idea of investing can be daunting. How much money should you invest? How should you invest it? Where? What is investing, even? Don’t worry — investing is not as complicated as it may seem, and in fact there are some very simple things you can do to get started. First, let’s answer…
Investment Products: Are Not FDIC Insured | May Lose Value | Are Not Bank Guaranteed
