Independent, mutual bank is one of only five Pennsylvania banks participating in program
DOYLESTOWN, Pa. (March 2018) – Penn Community Bank is proud to announce that it has joined the FDIC Youth Banking Network, becoming one of just five financial institutions statewide to participate in the new financial literacy program.
The FDIC Youth Banking Network provides opportunities for banks that are focused on financial literacy for young people to learn from each other and from FDIC staff. One of the program’s goals is to educate school-aged children about financial basics and to help them develop the habit of saving through dedicated savings accounts.
“A program like this is a great learning tool to help young people really understand how money can work for them,” said K. Bernard Tynes, Penn Community Bank Vice President, Retail Strategy & Distribution. “Helping young people manage their finances and showing them the financial freedom that comes from regular saving is a large component of our focus on financial empowerment.”
To participate in the program, banks must be insured by the FDIC and must have been in operation for at least three years. They must be working, or planning to work, with a school, school district, or nonprofit organization that serves youth under age 18 to carry out a program that allows the young people to open a savings account at the FDIC-insured institution. They also must provide financial education, either directly or in collaboration with a partner school, school district, or nonprofit organization.
Penn Community Bank is working with school districts and colleges in Bucks and Montgomery counties to offer on-site financial education and access to on-site banking services. To learn more about how your school or organization can bring financial literacy programs to your students, contact K. Bernard Tynes at firstname.lastname@example.org.
About Penn Community: Penn Community Bank holds nearly $2 billion in assets, employs more than 300 people, and offers banking, lending, insurance and investments at 24 bank branches and two administrative centers throughout Bucks County and Montgomery County, 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.