Penn Liberty Bank Donates $10K to YMCA

Officers from Penn Liberty Bank and the Freedom Valley YMCA were on hand on Wednesday as Penn Liberty donated $10,000 to the YMCA through its Educational Improvement Tax Credit program. 

Penn Liberty Bank assistant vice president Tom Thunstrom told Patch that the program allows the bank to help non-profits directly.

"The EITC program is a state program that gives businesses a credit on their tax dollars, if it goes back into the community," Thunstrom said. 

Penn Liberty Bank donated approximately $300,000 in 2012, according to chief credit officer Richard Sarfert, and has donated nearly $2 million since the bank was founded in 2004.

Spring Valley YMCA Executive Director Ann Nelson said, "It's helping us serve the community, by assisting with scholarships, financial assistance for members and child care."

The donation this year will mostly support the YMCA's Early Learning Center program at Grace Lutheran Church in Royersford. 

YMCA Financial Development Director Allison Stinger said that improving the child care programs at the Y also helps the child's immediate family. 

"It helps us serve the parents in our community too. Serving parents helps them become productive members of society, because they can go to work knowing that they have access to child care," Stinger said. 

Penn Liberty Bank's donations have supported many area non-profits, including several parish schools, the Chester County Development Council, and the SPCA.

"It's great for us to reinvest back into our community," Thunstrom said.