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Second Annual Beneficial Foundation School Challenge to Launch on October 1

Second Annual Beneficial Foundation School Challenge To Launch on October 1. Program will again award $13,000 to local schools through a grant competition

PHILADELPHIA, PA SEPTEMBER 18, 2012 – Beneficial Bank and The Beneficial Foundation will launch the Second Annual Beneficial Foundation School Challenge on October 1, which will provide schools in the greater Philadelphia and South Jersey regions with the opportunity to compete for grants to fund education-improvement projects. The Beneficial Foundation will award multiple $5,000, $1,000 and $500 grants, for a total of $13,000 in grant prizes.

Funds will be awarded to schools whose students develop a project concept that will create an impactful, long-term improvement at their school. The winners will be chosen by the public through an online voting contest. In its inaugural 2011-2012 school year, The Beneficial Foundation awarded two first-prize $5000 School Challenge grants to Our Lady of Calvary School Grades 4-8 category winner and Central High School Grades 9-12 category winner. Schools who were awarded grants in the inaugural year are eligible to enter this year's contest.

Gerry Cuddy, Beneficial Bank President & CEO, said, "We were thrilled with the success of the first Beneficial Foundation School Challenge, and we expect that it will be even more exciting this year. Beneficial has always been committed to enhancing the learning experience for students in our local schools, and we are very proud to again provide this opportunity to hundreds of schools and thousands of students."

The Beneficial Foundation School Challenge call for entries will be open from October 1-December 7 for all schools within the Bank's service areas in Pennsylvania Philadelphia, Montgomery, Bucks, Chester and Delaware Counties and New Jersey Burlington, Camden and Gloucester Counties. Beneficial will provide entry instructions to schools within these areas to encourage them to enter the competition.

Submissions can be made in either one of two categories- Grades 4-8 or Grades 9-12. Entries must be classified as belonging to the Financial Literacy/Math, Science/History or Language Arts/Reading subject area.

In early 2013, Beneficial will announce the ten finalist schools five in each grade category. The ten finalist schools will then be responsible for developing a creative video showcasing their Beneficial Foundation School Challenge idea that illustrates why their school should be awarded grant funds. All videos will be posted on the Beneficial website, and the public will be invited to vote on their favorite - ultimately selecting the winners. A first, second and third place winner will be named in each grade category, for a total of six winning projects. First place winners will receive a $5,000 grant, second place winners will be awarded a $1,000 grant and third place will receive $500 in grant funds. The final winners will be announced in March 2013.

"Providing the public with the opportunity to ultimately select the Beneficial Foundation School Challenge winners will allow our community to experience, first-hand, the ingenuity and creativity of local students," said Cuddy.

Teachers or school administrators with questions about the program should direct them to .

For more information about Beneficial and all of the Bank's education initiatives, please visit www.thebeneficial.com or www.facebook.com/beneficialbank.

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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