January, 2016

As mega-banks continue to acquire smaller financial institutions nationwide, community banks are more important than ever. Some consider mega-banks “safer” places for depositors, but all bank deposits are FDIC-insured up to $250,000 regardless of the bank’s size. That means there’s no increased risk in choosing a community bank over a mega-bank. In fact, community banks offer benefits larger financial institutions don’t. Fewer Fees While large banks may offer a wide variety of services, consumers definitely pay for them. The majority of large banks no longer offer free checking and some charge more than $10 per month for the service. At [ read more ]

Pennsylvania banks have a long and well-earned  reputation for innovation and independence. The Bank of North America, America’s first commercial bank, was chartered by the Confederation Congress immediately after America’s victory in the War for Independence. The newly minted financial institution opened its doors on January 7, 1782 in Philadelphia with the purpose of lending money to the federal government, individual states and local businesses. Pennsylvania then saw other banking firsts, including the nation’s first savings bank and its first savings and loan association. In the same spirit of innovation and independence, The First National Bank of Newtown began serving Bucks [ read more ]