Purchasing a home is one of life’s most important financial decisions. If you’re a first-time homebuyer, WSFS is here to help with the information and resources you need so you can make your next move with confidence. Join us for our upcoming events for a comprehensive step-by-step review of the homebuying process, from choosing a…
It’s no secret that high interest rates and still-stubborn inflation have impacted consumers and businesses alike. The rising costs of raw materials and inventory coupled with increased borrowing costs can have a major impact on the sustainability of small businesses’ cash flow and operations. Here are tips for small businesses to help manage the impact…
Main Line Monograms has been part of the Newtown Square, PA, community for about 10 years, providing personalized gifts for all occasions. But the story of new owners Heather Fusaro and Jordan Raech begins earlier. Heather and Jordan’s mother, Theresa, were friends and neighbors, and Jordan was even the babysitter for Heather’s children. Heather and…
The internet has provided a host of benefits to many consumers’ lives, enabling them to do research, make purchases and much more with just a few clicks. This ease and convenience can be great when used properly, but what about when scammers leverage technology to target their victims? Here are tips to help identify and…
In today’s career and financial landscape, fostering the next generation of talent is paramount. Through a remarkable partnership with Cristo Rey Philadelphia High School’s Professional Work-Study Program, WSFS is actively engaged in empowering future leaders within the finance industry. This unique program offers Cristo Rey students an opportunity to gain hands-on experience and develop essential workplace…
An immigrant and former Division I track and field athlete, Soj Jibowu’s journey has taken him quite a few places. After studying biomedical chemistry, Soj worked in that space for about 16 years before a multi-sport race in Chicago ignited the passion that led to a career change and the launch of Varlo Sports. Varlo…
Reverse mortgages can often be a misunderstood financial option for many consumers. One of the many reasons: since you must be 62 to obtain a reverse mortgage, consumers don’t get as much experience early on in their financial journeys as they would with credit cards or student loans. Driving this point home, a recent WSFS…
Originally founded in 1830 as a general store, Lederach Corner Store Piano Bar brings a unique and quaint experience to its community. After purchasing the building from a prior owner a few years ago, Sara Picard and her team set out to create a memorable experience packed with fine food and music. The Piano Bar…
Graduation season is an exciting time for many families. Whether it is a college, high school or vocational graduation, this occasion often marks the beginning of a new stage in the graduate’s life. As graduates mature into adulthood, their financial responsibilities will only increase. Here are tips to help recent graduates set themselves up for financial…
Corporate Interiors, with locations in Pennsylvania and Delaware, began as a Steelcase furniture dealership – in the business of facilitating the purchase of furniture for corporate environments. However, recognizing the shifting dynamics in the office environment, leadership at Corporate Interiors saw the opportunity to be more than just a furniture dealer. Instead, they aimed to…
The end of one year and the beginning of another become so busy with financial obligations and planning commitments that it becomes challenging to keep your foot on the gas for a critical component to your company’s success – employee development and satisfaction. With the first quarter now at a close, now is an excellent…
Founded in 1982, Kids ‘N Kribs, located in Devon, Pa., has been a leading baby and family lifestyle store serving area families for more than four decades. Kids ‘N Kribs, which celebrates its 42nd anniversary in May, provides quality heirloom nursery furniture, baby apparel, baby gear, décor, specialty toys, books, puzzles, and gifts from all…
In the realm of finance, liquidity is paramount. Whether you’re seizing investment opportunities or managing unexpected expenses, having access to cash without disrupting your long-term financial strategy is crucial. Enter Marketable Secured Lines of Credit (MSLOCs)—a strategic solution that leverages your investment portfolio while preserving its integrity. How MSLOCs Work Collateral from Marketable Securities: MSLOCs utilize…
The past few years have certainly thrown quite a few challenges at small businesses, with many reimagining and reinventing their business. While tough economic conditions can certainly impact profits and cash flow, many of the most successful businesses lean-in, embrace change and adapt to market conditions to strengthen their business for the future. Here are…
Saving isn’t easy. Personal finance often remains a blind spot for many youth until they face their first financial obligation, which can oftentimes result in taking on debt. That is why it is important to introduce the basic principles of financial literacy early. Through our partnership with schools across the Greater Philadelphia, New Jersey, and…
Spring homebuying season is heating up, with buyers and sellers looking to make their moves and ultimately land their dream homes. The economic landscape of the past few years has certainly presented challenges for many homebuyers, however, with some being shut out of the market entirely by rising prices and interest rates. In an often-fast-moving…
Cash flow is often the number one priority for small businesses, as well as what keeps many business owners up at night. Having sufficient cash flow is vital to the success of any business and can prove critical in building and maintaining strong supplier relationships, which in turn can help strengthen your business, lead to cost…
WSFS Bank announced it has launched Early Pay, which allows Customers to receive eligible direct deposits from their employers up to two days early.[1] Early Pay is also available for recurring government benefits, such as Social Security payments. “We’re thrilled to be able to offer Early Pay to our Customers to help streamline their eligible direct deposits…
Fraud continues to rise across the country, including a 14% increase in reported losses in 2023, with consumers losing more than $10 billion, according to the Federal Trade Commission (FTC). Imposter scams topped the list of most commonly reported fraudulent tactics. Consumers reported losing $1.8 billion to fraudulent bank transfers or payments as well as $343.7…
Each April marks Financial Literacy Month in the United States and serves as an opportune time to refocus your finances and sharpen your financial acumen. Thirty eight percent of respondents in a recent WSFS Bank Money Trends study are spending more money now compared to the prior year, while only 21% in the region are…
Having studied biomedical chemistry in school, Soj Jibowu set out on a career path in the medical device industry, where he worked for about 16 years. A former Division I track and field athlete, Soj came across his first multi-sport race in Chicago in 2014 and was hooked. He would soon find himself having participated in…
The WSFS CARES Foundation, the charitable giving arm of WSFS Bank, announced it has provided grants to five organizations as part of its continuing series of philanthropic activities by WSFS and the Foundation. The grants, approved in the first quarter by the WSFS CARES Foundation board, will support the following organizations: Delaware Prosperity Partnership ($150,000…
$10+ billion: that’s how much consumers reported losing to fraud in 2023, according to the Federal Trade Commission. It is the first time that losses to fraud have crossed that threshold and represents a 14% increase from 2022. With so much money on the line, it is vital to take steps to educate yourself on…
Spring is in the air, which for many homeowners means a busy season ahead to refresh their curb appeal or complete renovations. While spring is typically homebuying season for many consumers, for those already in a house or location they like, leveraging your home’s existing equity can be a way to make desired improvements. With…
Reverse mortgages – and the mortgage industry in general – have undergone significant changes the past decade. Perhaps the biggest change, however, is how many financial advisors are now incorporating housing wealth into their retirement income planning. Despite the rise in usage as a retirement planning tool, many consumers are unfamiliar with the options and…
Dr. Jessica Hershman, DMD and her father, Dr. Hal Hershman, DMD, first purchased their own dentistry practice in 2013 from another local dentist who was ready for retirement. As fate would have it, another area dentist was preparing for retirement in the next two years, and the Hershman’s would soon purchase that practice too. From…
Touchstone Home Products has roots that originated 38 years ago and has since grown to be an industry leader in electric fireplaces, patio heaters, TV lift cabinets, and other home goods. The company has continually exceeded customer expectations, and as the business evolved, took an interest in electric fireplaces — a product that was only…
The past few years have brought a few challenges for businesses, as many have reimagined their models and services, while also dealing with financial strains and rising interest rates. A working capital line of credit (WCLOC) can be a great tool for businesses – both small and large – providing flexibility to cover short-term operational…
At WSFS Bank, we are committed to providing you with timely, up-to-date information about your accounts. Our personalized Customer feed, now called myWSFSfeed, allows us to quickly share important updates with you, delivered right to your mobile device. Through myWSFSfeed, we will also occasionally send important alerts, account reminders, and financial security tips, like the latest…
Like many aspiring rockers, Paul Sinclair and Paul Hammond have seen their fair share of challenges through the years, but persevered in pursuit of their dream, falling back on nearly forty years of friendship to guide them along the way. “We first met in September 1984 as a pair of young guys looking to make…
Spring is just around the corner and can be peak season to buy or sell your home. But before you’re ready to make a move, it is important to do your research and homework so you’re ready when the time is right. Here are tips to help buyers and sellers prepare for the spring homebuying…
Love is in the air each year around Valentine’s Day. A great way to show some love to yourself and your finances this Valentine’s season is by refocusing on your savings. A recent WSFS Bank Money Trends study found that 38% in the region are spending more money now compared to last year, while only 21%…
The WSFS CARES Foundation, the charitable giving arm of WSFS Bank, announced it provided grants and donations totaling more than $2.7 million to more than 390 community organizations located across Delaware, New Jersey and Pennsylvania in 2023. WSFS also made a $2.0 million contribution to the WSFS CARES Foundation in 2023 to support future investments…
Tax season is in full swing. Whether you file your returns yourself, with the help of a professional or tax filing software, it is important to remain vigilant of potential scams. The Federal Trade Commission (FTC) reported consumers lost nearly $8.8 billion to fraud in 2022, with imposter scams accounting for $2.6 billion of those…
WSFS has various ways to communicate with Customers. A small sample of these communications may include: e-statement notifications, updates to products and services, rate change notifications, and fraud prevention alerts. In this sense, to Internet Service Providers (ISP) like Google, WSFS could be considered a bulk email sender. Email Communication Changes While all banks must…
Online and mobile banking continue to see increased adoption from consumers, and for good reason, as they provide quite a few tools to help you more efficiently manage your finances. From helping you budget and track your spending to paying bills and transferring funds, there are quite a few options within your online and mobile…
Cash flow is king for small businesses. It plays a critical role in their success and is something small business owners should always have a pulse on to ensure they’re operating efficiently. Cash management solutions offer small businesses efficient cash handling, risk mitigation and liquidity management. These services can streamline financial operations, reduce administrative burden…
In the realm of financial planning, the traditional approach often focused on achieving specific financial milestones or accumulating a predetermined sum of money. However, as the dynamics of personal finance continue to evolve, a more holistic and personalized strategy has emerged – goals-based investment planning. This method shifts the emphasis from merely accumulating wealth to…
The housing market has seen large fluctuations in recent years – first with record low interest rates early in the pandemic, followed by bidding wars, increased housing prices, and interest rates significantly higher than where they were just a few years ago, but most recently beginning to moderate slightly. A National Association of REALTORS survey recently…
Nonprofit organizations are not immune to the current financial challenges. An often-underutilized tool to help with these challenges is tax-exempt financing. Whether your organization is a health system, residential healthcare or senior housing facility, or another nonprofit organization outside of the healthcare space, there are options to explore that should fit your needs. Bank held tax-exempt…
Goal setting is often top-of-mind for many consumers around the New Year. As you look to set your goals for the year ahead, it is important to remember to include your financial goals. A recent WSFS Bank Money Trends study found that the uptick in interest rates has motivated 30% in the region to reduce…
In 2011, Amanda Adams was working for a jeweler-turned-mentor while pursuing her master’s degree. Daniel Uffleman, her boyfriend at the time, had started his entrepreneurial journey converting his parents’ 27-unit motel investment property into condominiums. When Amanda suggested they combine their basic knowledge in the jewelry industry and entrepreneurship to start their own jewelry business,…
Over the last several years, there has been an unprecedented combination of financial challenges for business leaders — a global pandemic, rising unemployment rates, rising interest rates and inflation. I was leading a team during the economic downturn of 2008 but the last three-plus years have been unique, especially with the recent (and welcomed) emphasis…
WSFS Bank celebrated the Grand Opening of its banking office and the accompanying Wiss Fiss Lounge, marking another chapter in the Bank’s commitment to Philadelphia. The new banking office is located at WSFS’ Philadelphia headquarters at 1818 WSFS Bank Place on Market Street. Located in the heart of Center City, the new banking office includes offices…
It’s well documented that over half of first-time marriages in the U.S. will end in divorce, with money being a driving factor. Conflict in marriage is normal as it is the coming together of two people who may share similar values but with critical differences. Money isn’t easy to talk about for anyone, but it…
In recent years, due to volatile investment and housing markets, reverse mortgages have become increasingly attractive to retirees looking for cash while staying in their homes. Working with their financial planner and mortgage lender, retirees can use reverse mortgages to benefit from their home’s equity for many purposes that were not generally considered years ago,…
Even the strongest budget needs to be revisited occasionally, particularly in a period of high inflation and rising interest rates. Rising costs and inflation topped the list of why regional consumers are spending more (72%), according to a recent WSFS Bank Money Trends study. Here are tips to help you revamp your budget and reach…
$8.8 billion. That’s how much consumers lost to fraud in 2022, according to the Federal Trade Commission. With so much money on the line, it is vital to take precautions to protect yourself and your wallet from adding to this startling statistic. The New Year can be a great time to set goals for what…
