Awards & Recognition

ICBA names Washington Savings Bank as one of the Top 75 Community Banks nationwide.

ICBA AWARD LETTER


ICBA Congratulates Washington Savings Bank for 20 Years of Membership

Washington, D.C. (August 2010) – The Independent Community of Bankers (ICBA) congratulates Washington Savings Bank in Philadelphia, PA for reaching and important milestone as an ICBA member.  This marks the community bank’s 20 years as a member of ICBA, the only nation organization dedicated exclusively to serving the needs of the nation’s nearly 8,000 community banks.

“ICBA is fortunate to have had Washington Savings Bank as a member of the association for 20 years,” said Camden R. Fine, ICBA president and CEO.  “Community banks such as Washington Savings Bank are passionately committed to serving their local customers and communities.  Community banks are truly the lifeblood that drives America’s communities nationwide.”

Community banks work hard every day to improve the quality of life in their communities because they are an integral part of their communities and the economic, financial and civic fabric of thousands of towns and cities across America.

“As an ICBA member, Washington Savings Bank is proud to be a part of a nationwide network of community banks that advocate on behalf of community banks and their customers,” said Mr. Martin G. Bednarek, President/Chief Executive Officer of Washington Savings Bank.  “Washington Savings Bank looks forward to continuing its role with ICBA to help strengthen and preserve the franchise value of community banks across the country.”

ICBA-member community banks employ nearly 300,000 people in more than 20,000 locations in all 50 states, the District of Columbia and two U.S. Territories.


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Washington Savings Bank Named Community Service Award Winner

Philadelphia, PA -Washington Savings Bank has received recognition for its outstanding commitment to community service by the Pennsylvania Association of Community Bankers (PACB). The PACB sponsors the annual Community Service Awards Program and encourages their community bank members to submit examples of their outstanding service projects for judging on a state level. This year, Washington Savings Bank won the award for their Teaching Children to Save Day. This event consisted of giving students from St. Timothy School a tour of the main branch on Comly Rd. After the tour, the students were given a power point presentation on the importance of saving money. Washington Savings Bank had provided lunch and transportation to the students of St Timothy school. The Teach Children to Save Program has been in place for 3 years at Washington Savings Bank, however this was the first year that Washington Savings decided to bring students to the actual bank. “The bank field trip is definitely something we would like to continue in the future,” said Washington Savings President Martin Bednarek, “I think it was very beneficial to the students to get a hands-on lessons on how to save money and other aspects of banking. Next year we hope more schools will join as well.


Best of Port Richmond 2010, Best Bank: Washington Savings

Philadelphia, PA – June 17, 2010: In the last few years the news has been crowded with stories of bank failures and takeovers, of mismanagement and lost savings. Customers might well ask whether the money they deposit on Monday will be there to withdraw on Tuesday. With such bleak news, it might be tempting to resort to the old-fashioned practice of stuffing cash into a mattress and bypass the banks.
But there’s a better choice, one that’s also harks back to a simpler time – the overwhelming choice of Port Richmond Star readers, in fact.
You may remember that bank from your childhood. Perhaps the manager visited your school and offered pointers about saving money. Your parents walked there to do business, taking you along, and the teller remembered their names – and maybe even your favorite cartoon character. Perhaps your grandparents banked there as well. Since the bank was founded in 1903, that would not be surprising. What is surprising is that this bank still exists and thrives today. And it’s located in your neighborhood: Washington Savings Bank.
Washington Savings is, above all, a community bank, with plan to stay that way. There are five branches, all within city limits. “We want to keep the bank in Philadelphia,” says Port Richmond branch manager Vera Nimczuk, By doing so, they keep in touch with customers. “We know customers’ first names, not just their Social Security numbers,” says Nimczuk.
Nimczuk, who has managed the Port Richmond branch for five years began as a teller, trained at different departments and smaller branches before her promotion to her present position. Her greatest satisfaction comes “when I help customers and they leave satisfied, they recommend the bank to others.”
She noted that many of the customers come from the immediate neighborhood. “People walk here” from their homes. “They’ve banked here many years and stay loyal, so we get to know them on a first-name basis.”
Moreover, the personal connection does not exclude even the top executive. Said CEO Martin Bednarek, “You can pick up the phone and ask for the CEO, and he will be sure to get back to you.” Bednarek’s roots with the bank run deep. “I am proud to say,” he explained, “that a member of my family has been involved with the management of the bank since it was founded.”
With such a long-standing relationship with the bank and with the community, Bednarek is especially committed to ensuring that his bank acts responsibly towards his customers. “Washington Savings would never put a family in a home it can’t afford to keep,” he said. “We have not foreclosed on a property in over five years and our loan portfolio is very strong.” Further, “We have plenty of money to lend to qualified customers who need a mortgage, home equity, car or numerous other loans.”
While Washington Savings offers a variety of services typical of any bank, the added dimension is that of community service. Said Nimczuk, “We visit schools and talk to children about saving money. We have shredder events, and also raise funds for breast cancer awareness, have canned food drives, and set up tables at park events.”
It looks as though Star readers recognize something good when they see it – and use mattresses for sleeping, not for storing money, They rest easier knowing that Washington Savings is taking care of their money instead. Washington Savings Bank is located at 2701 E. Allegheny Ave, 215-427-3500.
Article Written By: Diane McManus, Port Richmond Star


New Year, New Banking Concerns, But Not if You Bank at Washington Savings

January 2009: Washington Savings Association, Philadelphia, Pennsylvania proudly announces it has earned BAUERFINANCIAL, Inc.’s recommended 4-Star Excellent rating for financial strength and stability. BAUERFINANCIAL has been analyzing the nation’s banks for over 25 years and has earned the reputation as “the Nation’s Bank Rating Firm”, so to garner its recommendation is a time-honored badge of distinction. Customers of Washington Savings Association can be proud that their bank still shines, even under the watchful eye of the BAUERFINANCIAL microscope. The rating is based on the overall financial picture of the bank and at 4-Stars indicates that Washington Savings Association is one of the strongest banks in the nation.

The Association sponsors the annual Community Service Awards Program and encourages their community bank members to submit examples of their outstanding service projects for judging on a state level.

“This New Year in particular brings with it a whole new set of worries, but where a consumer banks shouldn’t be one of them”, remarks Karen L. Dorway, president of BAUERFINANCIAL. “Some banks ignored proper loan underwriting standards in recent years and are now paying the price for that decision. But, Washington Savings Association is a prime example of a bank that has stuck to traditional, conservative banking strategies, which, in this climate, is exactly what the ‘other banks’ are returning to. Washington Savings Association is a model of banking safety and soundness and its customers can rest assured in that knowledge.”

Established in 1903, Washington Savings Association has been serving the banking needs of its neighbors and friends for 106 years. It currently operates through five conveniently located offices in Philadelphia and can be found on the internet at www.washingtonsav.com.

Washington Savings Association: “Solid, Safe and Exceeding Expectations.”

BAUERFINANCIAL, INC., Coral Gables, Florida, the nation’s leading independent bank rating and research firm, has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No institution pays for its rating, nor can it be eluded. Consumers may obtain star-ratings by visiting www.bauerfinancial.com.


Congratulations to Washington Savings Association On Its 77th Consecutive Recommended Rating

December 2007: Coral Gables, FL. BAUERFINANCIAL, Inc., the nation’s leading independent bank rating and research firm, proudly announces that Washington Savings Association, Philadelphia, Pennsylvania has earned another 4-Star rating. Washington Savings Association has been recommended for 77 consecutive quarters. The 4-Star rating is based on the financial condition of the bank and indicates that it is one of the strongest banks in the country.

“Washington Savings Association’s ability to earn our Recommended rating time and again speaks to its strength, stability and longevity,” said Karen L. Dorway, president of the research firm. “In a banking environment that is struggling with loan quality and delinquencies, it is an honor and a pleasure to recognize Washington Savings Association and the values it represents.”

Washington Savings Association has been serving the financial needs of its neighbors and friends for 104 years. Established in 1903, it currently operates through five conveniently located offices in Philadelphia and can be found on the internet at www.washingtonsav.com.

Washington Savings Bank: “Serving the Community Since 1903.”

BAUERFINANCIAL, INC., Coral Gables, Florida, the nation’s leading independent bank rating and research firm, has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No institution pays for its rating, nor can they elude it. Consumers may obtain free star-ratings by calling 800.388.6686 or visiting www.bauerfinancial.com.