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Beneficial Acquires Northwood Savings Bank

Beneficial Savings Bank marked the grand opening of its new office in Warrington, Bucks County, with a ribbon-cutting ceremony on Tuesday, February 14th.


Beneficial Savings Bank has acquired Northwood Savings Bank of the Fishtown and Port Richmond sections of Philadelphia. As a result of the transaction between these two mutual institutions, Beneficial assets will total $2.4 billion. 

Northwood's office at 1500 East Susquehanna Avenue will remain open through February 9, 2006. Northwood customers now have access to all 38 Beneficial offices, including the one at Aramingo Avenue and Cumberland Street, just a half-mile away from Northwood. 

"Given our shared history and commitment to area residents, this is an extremely fitting acquisition," said George W. Nise, president and CEO of Beneficial Savings Bank. "We look forward to serving our newly-expanded customer base in Fishtown and Port Richmond, while continuing our growth in the greater Philadelphia region."

Founded in 1853, Beneficial reorganized into a federally-chartered mutual holding company structure in 2004, facilitating its flexibility to acquire financial institutions or non-bank businesses. In addition to opening five new offices since then, the bank acquired Philadelphia-based insurance brokerage firm Paul Hertel & Company to give individual and business customers full access to an array of property, casualty, life, health and benefits insurance.

Beneficial Savings Bank is a full-service financial services company with offices located throughout Philadelphia and the surrounding counties. 




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1818 Beneficial Bank Place
1818 Market Street
Philadelphia, PA 19103

888.742.5272
info@thebeneficial.com
The use of non-secure email is intended for general questions, inquiries and comments only. Confidential Customer information cannot be accepted electronically.


Routing No: 236075689
SWIFT Code: BENFUS33

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USA PATRIOT Act

To help the government fight the funding of terrorism and money laundering activities, the USA PATRIOT Act requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you – When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license and other identifying documents.