Business
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Wiser Wealth: With Bitcoin’s Value Dropping, Investors Wonder If Now Is the Time to Buy-In
When Bitcoin first appeared, most people underestimated the heights that its value would reach. Some early investors saw their assets skyrocket. But now the cryptocurrency is starting to dip, and investors are wondering if this is another ripe moment to get in. However, that is of course only a wise idea if Bitcoin is expected…
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Cryptocurrency 101: Here’s What You Need to Know
The topic of cryptocurrency is discussed by pundits on the news, influencers on social media, and people trying to make small talk. You would think with how much cryptocurrency gets mentioned we would all be experts by now. But it feels like when you try to ask someone what cryptocurrency is or why they own…
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Wiser Wealth: Is the High Risk, High Reward Nature of Being an Angel Investor Worth It?
If you are an angel investor, that means you are putting your money into a startup business. As the name suggests, the act almost feels benevolent seeing as the company has no proven track record to guarantee you will get any return. But you probably are not making this investment out of altruism. Angel investors…
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Gov. Wolf Increases Minimum Wage for Commonwealth Employees to $15
As of January 31, some state workers in Pennsylvania received a raise, thanks to a boost to the Pennsylvania minimum wage. A staff report from 6abc tallied the details. Governor Tom Wolf has increased the minimum wage for commonwealth employees to $15 per hour. “Increases in the minimum wage raise employee morale, productivity and work…
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Meridian Bank Closes SBA Loan for Local, Family-Owned Biotech Company
Meridian Bank’s SBA Lending Team has closed a $1,350,000 SBA loan for a Delaware County-based company to purchase commercial real estate and FF&E (furniture, fixtures, and equipment). The mortgage loan was structured with a fully amortizing 25-year term and financed 90 percent of the real estate purchase, new equipment, funds for minor property improvements, and…
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Struggling Pa. Homeowners Can Apply for Financial Help to Avoid Losing Their Homes
As of yesterday, February 1, Pennsylvania homeowners who are struggling due to the pandemic can apply for federal assistance to keep them from losing their homes, writes Michaelle Bond for The Philadelphia Inquirer. Pennsylvania has received $350 million through the federal Homeowner Assistance Fund under the American Rescue Plan Act. The resource is heading to…
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Penn Community Bank President & CEO Named Vice Chair of Federal Reserve Council
Jeane M. Vidoni, president and CEO of Penn Community Bank, has been appointed by the Federal Reserve Board of Governors to serve as vice chair of the Community Depository Institutions Advisory Council (CDIAC). CDIAC advises the board on the economy, lending conditions, and other issues of interest to community depository institutions. Members are selected from representatives…
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Paoli Billionaire — One of the World’s Richest People — Seeks His Successor to the Throne of SEI
After his most likely successor departed the company, SEI Investments Chairman and CEO Alfred West — a Paoli resident and one of the world’s richest people, according to Forbes — has acknowledged the Oaks-based company is searching for his replacement. Jeff Blumenthal linked into the story for the Philadelphia Business Journal. “We’re looking for a…
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WSFS Bank’s Charitable Donations — More Than $2 Million in 2021 — Are a Catalyst for ‘Generational Change’
The charitable-giving arm of WSFS Bank, the WSFS CARES Foundation, provided grants and donations totaling more than $2 million to 349 organizations located across Delaware, New Jersey, and Pennsylvania in 2021. “For nearly 200 years, WSFS has worked tirelessly to enrich our communities through our philanthropic efforts, personal commitment to service, and intentional desire to…
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Firstrust Bank: 88 Years of Grit, Vision, and Family Strength in a Local Financial Institution
American life in 1934 was on the upswing. The Great Depression was showing signs of abating; the U.S. gasped at the first photograph of the Loch Ness Monster; and Donald Duck debuted on movie screens. And locally, what would eventually become Firstrust Bank was launched by Samuel A. Green. Humble Beginnings and Familial Continuity Samuel…
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Penn Community Bank, Startup Bucks Announce Economic Development Partnership
Penn Community Bank has announced an exclusive partnership with Startup Bucks, aimed at supporting and growing the startup ecosystem in Bucks County. The collaboration brings together the largest mutual bank in eastern Pennsylvania and the Doylestown-based nonprofit to help entrepreneurs and small- to mid-size companies scale in size to create local jobs and drive economic…
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Forecast of Vanguard CEO, Top Strategists: Next Decade One of More Modest Returns
Vanguard CEO Mortimer “Tim” Buckley and the firm’s two top strategists have offered investors a lackluster stock market forecast for the following decade, writes Erin Arvedlund for The Philadelphia Inquirer. They warned investors that they should expect to see far more modest returns this year and over the coming decade, while also giving a guarded…
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Wiser Wealth: Inflation Even Has Wealthy Investors Worried About the Market
Regardless of what income bracket someone is, nobody likes dealing with inflation. In fact, recent surveys reveal that even millionaires are concerned about the rising cost of living. That is probably because 2021 saw the biggest jump in inflation rates in over thirty years, so everyone is feeling the difference now. Per MSN Money, a…
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One Small Investor on Tax Effect of Vanguard Fund Changes: ‘I Think I’m Screwed’
Owing to a change that Vanguard made to its institutional Target Retirement funds, many of its smaller investors got unexpectedly saddled with huge tax bills, writes Jason Zweig for The Wall Street Journal. Vanguard offers target-date funds: bundles of stocks, bonds, and cash that become more conservative as investors near retirement. These funds are specifically…
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Green Family Foundation and Firstrust Bank Eagerly Anticipate Receipt of College Scholarship Applications from Class of 2022
For the past 53 years, the Green Family Foundation has supported local high schoolers in pursuit of college degrees. It has done so in collaboration with Firstrust Bank, overseeing a scholarship program with far-reaching implications. The charitable outreach is again committing to help area students gain an advanced degree from which to launch a lucrative…
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‘Smart Gun’ From Radnor Start-Up LodeStar Fires Only for Authorized Users
LodeStar, a Radnor start-up, is using smartphone technology to make guns safe, reports Christie Ileto for 6abc. Safety technology personalizes the gun, allowing it to be fired only by a verified user. The 9mm gun checks the fingerprint of the user and requires a code to be entered on the weapon’s keypad before it can…
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Wiser Wealth: 5 Immediate Precautions to Ward Off Inflation’s Impact
Nobody is enthusiastic about inflation, but people typically feel like there is nothing they can do about it except grit their teeth and deal with it. Unfortunately, for some purchases, that may very well be true. However, some expenditures are worse than others right now. According to some of the financial experts Fortune talked with,…
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Phila. Cost of Living Rate: It’s One Tenth of a Percentage Point Cheaper Living in Vegas Than Here
In the past decade, the Philadelphia-Camden-Wilmington metro area recorded the fourth-lowest cost of living increase out of 55 large-sized metro areas, writes Ryan Mulligan for the Philadelphia Business Journal. A new report by Filterbuy ranked areas with the highest cost of living rise over the past ten years. The analysis looked at cities with more…
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