Media Center | Press Releases « 2004 Press Releases »

2004 Press Releases

FOR IMMEDIATE RELEASE

Contact: Scott Smith, 412-288-7696, scott.b.smith@fhlb-pgh.com

NATIONAL PENN BANK HONORED AT FEDERAL HOME LOAN BANK OF PITTSBURGH'S PILLARS OF THE COMMUNITY AWARDS

LITITZ, PA, June 28, 2004 — The Federal Home Loan Bank of Pittsburgh's Pillars of the Community awards honor financial institutions for outstanding work in creating housing for lower-income families and promoting community revitalization and economic development throughout Delaware, Pennsylvania and West Virginia.

At the fourth of four regional conferences held in June, the FHLBank of Pittsburgh honored National Penn Bank of Boyertown, PA.

"Financial institutions honored as Pillars of the Community understand that affordable housing and community development are central to creating sustainable and livable communities," said John J. Bendel, director of Community Investment of the FHLBank of Pittsburgh. "National Penn Bank has put our program dollars to work in ways that will benefit Pennsylvania communities far into the future. We're privileged to honor them today."

In honor of this award to National Penn Bank, the FHLBank of Pittsburgh is presenting a check for $1,000 to Neighborhood Housing Services of Reading, PA.

For more than 130 years, National Penn Bank has been serving the financial and community needs of southeastern Pennsylvania. National Penn has been an active user of FHLBank programs. 2003, for example, saw the completion of the Allentown Supportive Housing, or Good Shepherd, project. Funded through the FHLBank's Affordable Housing Program, Good Shepherd now offers 18 apartments for low-income adults with severe physical disabilities who are nevertheless capable of providing for their own personal care needs.

Additionally, over the past three years, National Penn has obtained grant assistance through the FHLBank's Home Buyer Equity Fund, helping 34 low-income families and individuals realize their dream of homeownership. National Penn has also co-funded a program that strengthens budget-counseling services and provides energy-savings improvements to homes for low-income families.

National Penn Bank is very active in the local community. In 2003, National Penn contributed in excess of $400,000 to hundreds of community nonprofit organizations. During the same time, employees gave more than 8,500 hours of their own time as volunteers in local communities.

Pillars of the Community award recipients are selected from all financial institution members of the FHLBank of Pittsburgh that have used the FHLBank's community investment products in the previous calendar year. Winners are selected by an FHLBank committee and are approved by the Affordable Housing Committee of the FHLBank's Board of Directors.

The Federal Home Loan Bank of Pittsburgh, with assets of more than
$57 billion, serves nearly 350 financial institution members in Delaware, Pennsylvania and West Virginia and is part of the Federal Home Loan Bank System. It is one of twelve FHLBanks, all private cooperatively owned banks that provide wholesale housing finance, community lending and correspondent banking services to member banks, savings institutions, credit unions and insurance companies.

To request photos or interviews, please call 412-288-7696.