Fraudulent calling attempts are on the rise. Scammers are posing as WSFS Associates – using fake caller IDs and personal details to gain your trust. NEVER share your account passwords or verification codes on unsolicited calls. Verify the call by hanging up and notifying us directly at 888.973.7226 7am‑7pm ET (M‑F) and 9am‑3pm ET (on weekends).
Fraudulent calling attempts are on the rise. Scammers are posing as WSFS Associates – using fake caller IDs and personal details to gain your trust. NEVER share your account passwords or verification codes on unsolicited calls. Verify the call by hanging up and notifying us directly at 888.973.7226 7am‑7pm ET (M‑F) and 9am‑3pm ET (on weekends).
Founded in 2003, Tech Impact is a nonprofit and national leader in technology services and training with a mission to leverage tech to advance social impact. Through capacity-building services, educational resources, and workforce development programs, Tech Impact works to transform lives, organizations and the world through technology. Tech Impact has worked with a variety of…
As housing inventory continues to be tight, creating a seller’s market even with higher interest rates, many prospective homeowners are turning to newly constructed homes. Recent reports indicate that home builders are starting to build more homes for these buyers, which over time can help ease the strain on available homes. If you have been…
If you’ve visited Delaware’s beaches during the summer, chances are you’ve been to Grotto Pizza. An institution that has grown to more than 20 locations in Delaware and Maryland, Grotto Pizza was born in 1960 when Dominick Pulieri opened the first location with his sister and brother-in-law at a boardwalk storefront in Rehoboth, Del. The…
Discussing finances has long been thought of as a taboo topic for many. A recent WSFS study found 71% of regional consumers wished they had received more financial guidance and education. Having open and candid discussions with those closest to us about our finances can go a long way in helping to increase confidence in…
Cash flow is the top priority for small businesses, but it’s also the top reason that small businesses fail. Why it matters: Having solid cash flow and access to capital directly impacts small businesses in practically every way, from managing assets and operations to financing and managing supply chains. Small business owners can take initial…
For a small business owner or operator, cash flow will always be king. Without sufficient cash flow and capital, small businesses face an uphill climb to achieve long-term success, making optimization of existing cash flow and reserves a primary focus of operations, vendor management and sales strategies. Here are eight primary ways to improve your…
Thirty-six percent of all U.S. banking customers said they have experienced some kind of financial fraud in the past 12 months, according to J.D. Power, with unauthorized purchases on debit cards being among the most common occurrences. As the busy summer travel season kicks into high gear, many consumers will find themselves using ATMs and…
It seems that each day the financial press inks yet another article about an impending US recession. They’ll cite expert sources and provide a slew of economic data backing up their talking points. Investors with a long-time horizon, one that is beyond 10 years, should be content to ride out any market turbulence as a…
Deciding whether now is the right time to purchase a vacation home depends on various factors, including your personal financial situation, the real estate market conditions, and your long-term goals. It’s essential to consult with a financial advisor, or a mortgage or real estate professional, for personalized advice. Here are a few points to keep…
Working with a private banker can offer a wide range of benefits, particularly for individuals with significant financial assets or complex financial needs. Private banking provides personalized, comprehensive services that can help you effectively manage your wealth. Personalized Financial Solutions: Private bankers take the time to understand your financial situation, goals, and risk appetite. They…
Beginning the mortgage process can seem mind-boggling at first, but there are two steps to take prior to ever applying for a loan that can make obtaining your dream home easier than expected. These steps are pre-qualification and pre-approval. Although they have similar names, they are quite different, and knowing the difference between them can…
Tennessee-based real estate, development and investment firm Hutton was looking to expand its business into a new arena. When the company was investigating potential development projects for multiple car wash companies, it noticed one commonality — the industry wasn’t familiar with new development. Having previously built a name through hundreds of projects, the team at…
Many of us know how to budget, how to be prudent consumers, and we’re smart, but why don’t we invest as much as we save? A Black Rock 2016 survey discovered that 71% of women keep their assets in checking and savings accounts, or under the bed, or anywhere but an investment account.[1] A 2021…
Cash flow. It’s the top priority for most small businesses, and for good reason, because cash flow problems are the top reason small businesses fail, according to SCORE.org. Having solid cash flow and access to capital directly impacts small businesses in practically every way, from managing assets and operations to financing and managing supply chains. Key…
The weather is heating up and so is vacation season! A recent WSFS study found that 35% of regional respondents had a goal to save for a large purchase like a vacation, but following a year of increased costs for everyday items coupled with rising interest rates, saving and budgeting for a vacation can be difficult. Whether you’re…
Accessing capital can feel overwhelming for small business owners, but it doesn’t have to be. Why it matters: Having capital means having cash flow, which is critical for any small business’ success and growth. Common uses for capital include: Working capital for operations Purchasing assets Funding growth through assets, property or expansion Supply chain purchases/costs There are many options…
To celebrate Small Business Month, WSFS Bank teamed up with Bob Kelly and FOX 29 to spotlight small business Customers that are making strides to grow their businesses as economic engines in their communities! To kick off the celebration, WSFS Bank’s Candice Caruso joined Bob Kelly on Good Day Philadelphia for a live segment with small…
For the second consecutive year, WSFS has been named an honoree of The Civic 50 Greater Philadelphia by Philadelphia Foundation, in partnership with Points of Light and local partners. “WSFS’ mission, vision and strategy are closely intertwined with our efforts to support our Communities,” said Vernita Dorsey, Senior Vice President, Director of Community Strategy at WSFS…
Don’t just work to pay for your family’s home, take care of your small business’ needs too. Why it matters: Small business owners that don’t own the property where their business operates are missing out on opportunities like: Cost certainty New revenue streams Reinvestment into the business Long-term growth The rewards of owning your business’ home far outweigh…
It’s no secret that inflation and rising interest rates have impacted many consumers’ financial security over the past year. A survey from WSFS Bank found that 34% of regional respondents were not confident they could afford rising costs of living, leading many to change their saving and spending habits. Nearly two-thirds (61%) in the region said they are…
Budgeting and saving play a key role in your financial journey, particularly when it comes time for larger expenditures. A recent WSFS study found 35% of regional respondents had a goal to save for a large purchase such as a wedding, car or vacation, but 25% of respondents with this goal were less confident they could achieve…
The WSFS CARES Foundation, the charitable giving arm of WSFS Bank (Nasdaq: WSFS), announced it has provided grants to two organizations located in Delaware and Pennsylvania as part of its continuing series of philanthropic activities by WSFS and the Foundation. The grants, approved in the second quarter by the WSFS CARES Foundation board, will support…
WSFS Bank and the Philadelphia Union today announced the launch of a co-branded debit card. As the official bank and community supporter of the Philadelphia Union and Subaru Park, WSFS is offering a one-of-a-kind design that features the Philadelphia Union logo and colors to showcase fan support for their hometown team. The card is available to…
In April, Rob Coppock, Vice President, and Anna Fournaris, Fiduciary Specialist at The Bryn Mawr Trust Company of Delaware (BMTCD), a subsidiary of WSFS Bank that provides trustee services for individuals and families establishing trusts for personal tax and/or estate planning purposes, participated in a presentation, “Holding Art in Trusts,” at the University of Delaware…
Interest rates have been on the rise since early last year when the Federal Reserve began raising the federal funds rate that now sits at roughly 5.00%. Investors have been looking to take advantage of today’s interest rate environment and add additional income to their coffers. And rightfully so. Opportunities certainly exist, although they can be…
By the year 2034, the Social Security Trust fund will be depleted, and benefits will be reduced by 20% if nothing changes, according to the Social Security and Medicare Board of Trustees 2023 Annual Report. This will have a disastrous effect on the more than 66 million Americans who rely on Social Security for benefits[i]….
Borrowing and credit can play a key role in reaching many major life milestones but need to be managed properly, particularly during periods of elevated interest rates, to avoid falling into debt. A survey from WSFS Bank found that 38% in the region are focusing more on paying down debt, and 37% are avoiding borrowing or…
WSFS and the Philadelphia Union joined forces recently to volunteer at CityTeam Chester, an organization focused on restoring lives and rebuilding communities through innovative programs that provide food, shelter, clothing, training and spiritual transformation. As part of the initiative to support CityTeam Chester, WSFS also provided a $5,000 donation to the organization on behalf of its…
Avenue North is poised to be an inspirational example of what it means to live, work and play in the modern world. Once complete, the campus — nestled near both I-95 and the Delaware Green Way — will be comprised of 80 multi-use acres, including housing, office space, retail and other amenities. In addition, the…
Buying a home for the first time is likely the largest purchase people will make at that point in their lives. And for those looking to upgrade their home, the financial stakes are higher. With that comes a lot of preparation, responsibility, and even stress. A recent WSFS Mortgage survey found that 37% of prospective homebuyers…
It may be difficult to think about your parents passing, so discussing their estate plan is often avoided. However, ensuring their wishes are met can provide peace of mind. Your parents’ last will and testament is just one document that dictates the distribution from an estate, but there are others such as revocable trusts, asset…
Financial education and literacy can be key to achieving many goals in life. With school curriculums already packed and budgets stretched thin, a formal financial education is something that is often not covered in the classroom. To help bridge this gap and set students on the path toward future financial success, nearly 40 WSFS Associates took to…
For many small business owners, taking the next step with their business’ growth comes down to available cash flow. Managing cash flow and comparing it to a business’ financial projections allows owners to make important financial decisions to help sustain and grow their business, like applying for a loan. However, gaining access to the capital small…
Congratulations, you just graduated! Whether you’re celebrating a high school, college or trade school graduation, this can be one of the most exciting times of your life. With graduation comes many new responsibilities in life, one of the most important being the need to manage your finances as you enter adulthood. Here are tips for recent graduates to…
In today’s global economy, currency risk is an important concern for companies conducting business internationally and individuals planning to send or receive money from abroad. Since the early days of the pandemic, most currencies have been on a roller coaster ride with the U.S. dollar. The euro lost over 22% from May 2021 to September 2022…
Have you started saving for retirement? While most people recognize the importance of saving for retirement, studies show that many have no idea how much money they will need in retirement, let alone how to get started. And with our schedules becoming busier each day, many people tend to put it off until they get…
Following a year of rising costs coupled with rising interest rates, many consumers are feeling the economic strain on their finances. A recent WSFS study found that 61% of regional respondents are cutting back on non-essential spending, while 38% are focusing more on paying down debt because of rising costs, and 33% are tapping into their savings…
After months of increasing mortgage interest rates, we’ve recently seen rates begin to drop ahead of the spring homebuying season—and that’s great news for potential buyers. The Reasons Mortgage rates are more influenced by the bond market, mortgage-backed securities and more specifically, the 10-year Treasury yields than they are when the Federal Reserve raises the Prime…
Interest rates have continued to climb to levels not seen in recent years and have impacted many consumers’ financial situation and goals. A recent WSFS study found that regional respondents said building an emergency fund (52%) is their top goal, followed by increasing savings in retirement accounts (49%). While rising rates and inflation impacting the cost of everyday…
Inflation and rising costs have had an impact on many consumers’ financial security and goals over the past year. A new survey from WSFS Bank found Americans are confident managing their money, including 91% of respondents in the Greater Philadelphia and Delaware region, but 34% in the region are not confident they could weather an economic downturn…
The WSFS CARES Foundation recently announced grants to three community organizations located in Delaware and Pennsylvania as part of its continuing series of philanthropic activities by WSFS and the Foundation. “Revitalization and Business Economic Empowerment, Education and Leadership Development are among the core pillars of the WSFS CARES Foundation,” said Patrick J. Ward, Executive Vice President, Pennsylvania…
Often, losing a family member leads to new, unexpected paths for those left behind. That was certainly the case for Steve Duncan, whose brother, Michael “Slim” Duncan passed away in 2010, leaving behind a 10-year-old daughter, Lexi, who he lovingly called his “Princess.” Steve opened up his home and helped raise Lexi until she went on…
Americans are confident managing their money, including 91% of respondents in the Greater Philadelphia and Delaware region, but 34% in the region were not confident they could weather an economic downturn or recession, a survey from WSFS Bank found. Impact of Inflation and Rising Costs Among regional respondents: 34% were not confident they could afford rising costs of living….
With interest rates rising and record high inflation over the past year, many consumers are looking for ways to save more money. For those who have built up a solid nest egg, rising interest rates can present an opportunity to grow their savings through tools like high-yield money markets. Here are tips on how to leverage the…
As a result of recent events in the banking and finance industry, the Federal Deposit Insurance Corporation (FDIC) and its coverage limits on banking customer deposits have been top of mind for many people. Many banking customers have questions about FDIC limits and whether their money is protected. It is important to understand how FDIC insurance…
Each March, Women’s History Month takes place to honor and recognize the key contributions made by women to society and history. As the official bank partner and community supporter of the Philadelphia Union and Subaru Park, WSFS joined forces with the Union on a variety of events and initiatives throughout the month to support women. During Union…
Recent events have brought new attention to the financial services industry and have business leaders wondering if they are taking the right steps to ensure their money is safe. There are several ways to safeguard against threats like fraud or market volatility but ensuring your business’ money is protected in Federal Deposit Insurance Corporation (FDIC)…
With inflation continuing to drive costs higher for everyday products and services, large purchases like vehicles and more, many people are looking for ways to save and keep a balanced budget in any way they can. And while the resulting high interest rates are making unsecured debt—like credit cards with revolving balances—and other variable interest…
