If you’ve ever participated in career day at a local elementary school, you’ll probably relate to this story. A banking colleague visits her son’s kindergarten class and amid explaining the role of a banker, one eager child pipes up and says, “It’s like the lifecycle of a plant!”
He’s right—community banks like Audubon Savings Bank take in deposits and distribute loans and feed into a self-sustaining micro-economy by keeping funds right here in Audubon, Mt. Laurel and Pine Hill!
The idea of “sustainability” is linked to a lot of our local activities these days—whether it’s reusing or recycling products that otherwise might be tossed out, sampling culinary delights from the local bakery or family-run diner, or choosing to buy American-made products to support our national economy. There are plenty of reasons why eating, dining and banking locally makes good economic sense.
It’s all part of a symbiotic relationship that community banks have with their communities. Funds taken in by the community are put to productive use by lending that money back into Audubon, Mt. Laurel or Pine Hill’s economic ecosystem—to local small businesses and residents just like you.
When you deposit money at Audubon Savings Bank, those funds are used to support local businesses, homebuyers, and everyday consumers. And the proceeds from those businesses employ local residents, fund municipalities, and continue the cycle of locally based economic growth.
This April, in celebration of Community Banking Month, we encourage everyone to consider what it means to bank locally and help sustain Main Street today, tomorrow and for generations to come.
Stop by our Bank today to discuss your financial situation and learn how a community bank can help you realize your financial dreams—and contribute to a more vibrant and sustainable economy in your community.
Remember—we’re all in this together. Community banks are only successful if our customers and communities are too. That’s why the community bank and its relationship business model have thrived for more than 150 years. We know what it takes to create successful local economies—join us in helping to build a more sustainable, vibrant economy here at home!
Audubon Savings Bank is pleased to feature our first Local Business Spotlight: Alliance Adult Medical Daycare!
We were happy to host at our Audubon Branch on Friday, February 2nd from 12-2pm to meet with representatives from Alliance! Thanks to all who came!
About Alliance: We at Alliance believe that not only does our program help to improve our client’s physical well-being, but that with them being here, it allows for an emotional balance to form between them socializing with other clients, and stimulating their minds and their spirits. For the families, your loved ones will spend their days in a professional, secure, and non-judgmental environment with the appropriate care allowing for peace of mind. The cost can be covered by Medicaid program, state, or federal health insurance, or private pay. We offer two hot meals a day as well as many activities and trips for our clients to enjoy.
Contact Alliance Today!
Address: 607 S. White Horse Pike, Audubon, New Jersey 08106
You can also check out their Facebook here!
Audubon Savings Bank wants to know about your local business and how you serve the community! Our branches will be offering local businesses the opportunity to showcase their company in our branch lobby on a scheduled Friday. The Bank will promote the event in the branch, on our website and through social media. Contact your local Branch Manager to get details on how to participate in one of our Local Business Spotlight events!
Dear Audubon Savings Bank Customer,
We are writing this letter with enormous enthusiasm, because we are about to embark on the next exciting chapter of our history by creating one of the truly great community banks in the Delaware Valley!
A merger with William Penn Bank provides us with a unique and special opportunity to build one of the area’s best community banks. When the merger is complete, the Bank will operate six offices across two states. We will triple the size of our assets, from approximately $160 million to approximately $480 million.
We believe the merger will be great for our current and future customers because you will have access to a broader offering of competitively priced products and services, and our ability to make loans, especially to local businesses, will be vastly enhanced by our expanded capital base.
Our legal lending limit will increase from approximately $1.8 million per borrower to more than $10 million per borrower.
We also believe the merger will be great for our employees, because a larger and stronger bank will result in expanded opportunities for career growth and development.
The combined bank will initially be led by William Penn’s current President and CEO, Terry Sager. Terry has announced that she will retire on February 1, 2019. Audubon’s current President and CEO, Ken Stephon, will initially serve in the capacity of Senior Executive Vice President and Chief Operating Officer of William Penn and, upon Mrs. Sager’s retirement, Ken will become President and CEO of the combined bank. Three of our Directors, Chairman Vince Sarubbi, Vice Chairman Mike Carmody, and Ken Stephon will join the William Penn Bank Board of Directors. Additionally, a Southern New Jersey Advisory Board will be formed and all Audubon Savings board members not serving on the William Penn board will be invited to join.
We look forward with great anticipation to serving your financial needs for many years to come, and we will continue to work in your interest by doing all we can to deliver on the extraordinary potential of this merger.