Bethlehem, PA – August 21, 2019 - In addition to recently being named the top credit union in Pennsylvania, First Commonwealth also earned the America Saves Designation of Savings Excellence Award. The accolade is given to financial institutions that make extraordinary efforts to encourage people to save and to help their communities become more financially stable. First Commonwealth, along with 14 other awardees across the nation, helped 246,677 Americans save a total of $503,575,890!
“Almost half of all Americans are facing a savings crisis with the inability to meet an emergency of $400 without incurring debt, which is a staggering statistic,” said Donna LoStocco, CEO of First Commonwealth FCU. “As a purpose-driven organization, we are dedicated to helping people achieve financial happiness, and are proud to be recognized for our efforts.”
As part of their financial wellness efforts, First Commonwealth is also launching a local Lehigh Valley Saves campaign, in partnership with other local organizations, to bring education, resources and tools to the communities they serve.
America Saves Week is an annual event that inspires Americans to assess their financial status and make a simple savings action plan that starts or increases their savings. The event is coordinated by America Saves, with input from planning support that includes federal government agencies such as the FDIC and CFPB, corporations, as well as nonprofits and Cooperative Extension educators.
“Credit unions were created to help people economically prosper, and we know that being able to save is a critical component to achieving financial freedom,” said Gigi Hyland, Executive Director at the National Credit Union Foundation. “The Foundation was honored to once again serve as Chair of the America Saves Designation of Savings Excellence Credit Union Selection Committee and are proud of the credit unions selected that went above and beyond to serve their communities.”
First Commonwealth, based in Bethlehem, PA, is a leader in banking innovation and the largest credit union in the Greater Lehigh Valley. With eight financial center locations and a best in class digital banking center, First Commonwealth serves more than 63,000 members and 1,500 member companies in the Greater Lehigh Valley and beyond. As a member-owned, not-for-profit financial cooperative, First Commonwealth is a leader in the B2C and B2B financial services marketplace and has been committed to growth, innovation, technology and personal, friendly service since 1959. First Commonwealth has over 170 employees and $760 million in assets and serves its membership through purpose-driven and mission-based values to empower the pursuit of financial happiness. First Commonwealth FCU is committed to giving back through their First Commonwealth FCU WE Thrive Foundation and Corporate Social Responsibility initiatives. www.firstcomcu.org