The area’s leading independent mutual bank sponsors local affordable housing initiative
MORRISVILLE, Pa. (October 2018) – Penn Community Bank, the area’s leading independent, mutual financial organization, is pleased to announce a sponsorship pledge of $100,000 to Habitat for Humanity of Bucks County over the next three years to support the creation of affordable housing in Bucks County.
The donated funds will support the building of a new single-family home in Morrisville Borough. Penn Community Bank President and CEO Jeane M. Vidoni and Executive Vice President, Chief Relationship Officer Todd R. Hurley announced the pledge at the Oct. 10 groundbreaking on the four-home Woodland Park project on Woodland Avenue.
“Each of the homes we build becomes a family legacy,” said Florence Kawoczka, Executive Director of Habitat for Humanity of Bucks County. “Stable, affordable housing improves the health and well-being of the whole family and leads to better educational outcomes for vulnerable children. These families just need a hand up, and partnerships with organizations such as Penn Community Bank enable us to extend that helping hand.”
The homes will pave a path to homeownership for four deserving families. To qualify for Habitat’s homeownership program, families must invest at least 200 “sweat equity” hours in the building project, have a stable income and credit history, and be able to afford the projected monthly mortgage payments while earning an average of 60 percent to 80 percent of Bucks County’s median family income, which Habitat pegs at $87,400 for 2018.
The Philadelphia suburbs are among the most expensive places to live in Pennsylvania, often putting homeownership out of reach of lower-income earners. Supporting efforts to create safe, stable, affordable housing is one of Penn Community Bank’s four primary priorities for community giving.
“We believe the availability of affordable housing is a key factor in building a community that thrives,” said Vidoni. “That is why we are so pleased to support the efforts of Habitat Bucks, and we look forward to helping these new families become proud Bucks County homeowners.”
In addition to the funds that Penn Community Bank has donated to Habitat for Humanity of Bucks County each year, the bank’s employees also regularly volunteer hundreds of hours of their time helping to build Habitat homes. The Woodland Park project will offer many opportunities for volunteerism. To learn more and to get involved, visit https://www.habitatbucks.org/.
About Penn Community: Penn Community Bank holds more than $2 billion in assets, employs more than 300 people, and offers banking, lending, insurance and investments at 25 bank branches and two administrative centers throughout Bucks and Montgomery Counties, Pennsylvania. As an independent, mutual financial institution, Penn Community Bank is not publicly traded and operates with its long-term mission in mind: to help businesses grow and prosper, to provide financial resources to individuals and families throughout their lifetimes, to strengthen the local economy, and to partner with local organizations to act as a catalyst for positive growth in every market it serves.
About Habitat Bucks: Founded in 1990, Habitat for Humanity of Bucks County’s mission is Building Communities, Empowering Families. Since then, it has built or fully renovated 114 affordable homes in Bucks County through its Homeownership Program, which provides an opportunity for low-income families to build strength, stability and self-reliance by partnering with Habitat. Its low-cost Home Repair program makes interior and exterior repairs to help individuals improve accessibility and remain safe in their own homes. Revenue from Habitat Bucks ReStores provides a source of sustainable funding for the construction and repair of homes. Habitat Bucks has an open-door policy: All who believe that everyone deserves a decent, affordable place to live are welcome to volunteer to lend a helping hand. For more information, call 215.822.2812 or visit www.habitatbucks.org.