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Beneficial Bank Partners With Cristo Rey High School

Innovative school program allows students to earn money and gain valuable work experience

PHILADELPHIA, PA OCTOBER 2, 2012 – Four students from the new Cristo Rey Philadelphia High School didn't just start another school year on September 4 – they also began working at the Center City headquarters of Beneficial Bank.

The four freshmen - Yohalis L., Kelliann A., Mark H. and David J. – are learning about accounting, lending, and compliance, among other areas, and are gaining real-life job skills in the process. Cristo Rey Philadelphia is a new independent, college preparatory Catholic school for low-income students that helps build skills to succeed in college and the modern workplace. Based on a successful model used in 24 cities across the U.S., teams of four students work five days per month in partnering corporations, which provides them with invaluable work experience and subsidizes approximately 60 of the cost of their education. Beneficial Bank is a Job Partner for the school's inaugural year, along with 19 other area corporations. The Beneficial Foundation contributed $30,000 for Cristo Rey to establish its innovative program in Philadelphia. Beneficial Bank President and CEO Gerry Cuddy said, "Because Beneficial's mission is to help customers do the right thing financially, we were pleased to have the opportunity to support this innovative educational initiative. It is especially rewarding for us to mentor such enthusiastic students, and to introduce them to the world of banking. This partnership also allows us to help train and contribute skilled, responsible workers to our region."

Cristo Rey Philadelphia President John McConnell commented, "Beneficial Bank is a terrific Job Partner for the Cristo Rey Program. At Beneficial, our students receive great coaching from enthusiastic mentors. They challenge the students to learn valuable skills that will help them succeed in college and beyond. We are very grateful for Beneficial's willingness to invest in the future of our community."

About Beneficial Bank

Founded in 1853, Beneficial Bank is the oldest and largest bank headquartered in Philadelphia. It is a community-based, full-service financial services company that has served individuals and businesses in the Delaware Valley for 159 years. With over 60 offices in the greater Philadelphia and South Jersey regions and approximately $5 billion in assets, Beneficial offers a full array of financial products that includes commercial, consumer and real estate lending, insurance and wealth management. Visit www.thebeneficial.com for more information.

About The Beneficial Charitable Foundation

Beneficial Bank established The Beneficial Foundation to fund community development programs that support children and families in crisis, with special emphasis given to educational, after school and early childhood development programs. Since its inception in 2007, The Beneficial Foundation has awarded more than 766 grants totaling approximately $2.5 million to non-profit community organizations throughout Southeastern Pennsylvania and Southern New Jersey. Visit https://www.thebeneficial.com/foundation-mission for more information.

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