Shortly after being named Bishop of Philadelphia in 1852, John Neumann helped put the wheels in motion to provide a safe place for the working class and immigrant population to store their savings, leading to the founding of Beneficial Saving Fund Society in 1853.
Beneficial Bank officially began operations in 1854, utilizing many of Neumann’s guiding principles throughout its history.
In 2019, Beneficial was acquired by WSFS Bank, another locally founded bank with a storied history of serving its Communities since 1832.
In 2022, WSFS began to look for a permanent home for a bust of the now patron saint of immigrants and sick children that it inherited as part of its combination with Beneficial. With strong ties to the National Shrine of Saint John Neumann Museum already in place, the decision was made to donate the bust to the museum.
“’I’ve always had to rely of the kindness of strangers,’ is a famous quote from ‘A Street Car Named Desire,’” said Father Richard Bennett, C.Ss.R., Rector of the National Shrine of Saint John Neumann. “Although the folks at Beneficial Bank were no stranger to the National Shrine of Saint John Neumann, we have continued to forge that strong collaborative relationship with WSFS since the acquisition.”
“The National Shrine of Saint John Neumann Museum holds many sacred artifacts from Saint John Neumann’s life and is open daily to the public,” said Robert Juliano, VP, Director of Corporate Giving & Financial Literacy at WSFS Bank. “We couldn’t think of a more fitting home for this tribute to a Saint who had such a lasting impact on our region and the world.”
With the feast day of Saint John Neumann taking place on January 5, the first month of 2023 was the perfect time to make the donation and continue WSFS’ history of supporting its Communities and vision of a day when everyone will thrive.
“The spirit and legacy of Neumann, lives on through the shared values of WSFS and Saint John Neumann for bettering the lives of people here in the Delaware Valley and tri-state area,” said Father Bennett. “Financial health and stability will always help families create a better tomorrow for their future generations to come.”
“We’re excited the bust’s new home will enable current and future generations of visitors to take in the history of Philadelphia and the legacy of Saint John Neumann,” said Juliano. “We look forward to continuing to work together with the Shrine Museum to enrich lives.”
Helping you boost your financial intelligence.
Read our financial resources from your friends at WSFS.