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NEWS RELEASE
July 22, 2008
MEDIA CONTACT| Yvette Núñez, 267-296-7346
APM BRINGS TRUMARK FINANCIAL CREDIT UNION TO EASTERN NORTH
PHILADELPHIA
TruMark Financial first financial
institution to move into neighborhood in decades
PHILADELPHIA—In a time when financial
institutions are closing branches, TruMark Financial Credit
Union, a nonprofit, full-service financial institution, is
breaking ground in Eastern North Philadelphia. Asociación
Puertorriqueños en Marcha (APM), a Latino-based health, human
services and community development organization founded in
1970, is responsible for bringing the financial institution
into the neighborhood, one that the agency has revitalized in
leaps and bounds. APM has built 103 new homes, with another 25
currently being built or rehabbed for first time homeowners in
Eastern North Philadelphia. The new housing has spurred a need
for ancillary development, also led by APM, including the
44,000 square-foot retail space housing a supermarket and
laundromat at 5 th
& Berks. It is also on this
site that APM has created a space for TruMark Financial Credit
Union, the first financial institution to move into this
neighborhood in decades, according to APM Vice President of
Community and Economic Development, Rose Gray.
The groundbreaking ceremony, held today and
attended by Pennsylvania State Senators Shirley M. Kitchen and
Christine M. Tartaglione, along with City Councilwoman Maria
Quiñones Sánchez, highlighted the need for the City and
State’s investment in community development initiatives that
lead to progress for once underserved neighborhoods. “APM’s
housing counseling program serves more than 400 families each
year,” shared Nilda Ruíz, APM President and CEO. “We are
capitalizing on that opportunity to increase financial
literacy in our community by partnering with TruMark Financial
Credit Union in a truly meaningful way. Beyond offering
workshops in our community, TruMark Financial is moving in,
and once businesses say that this neighborhood is viable, the
potential for wealth in this very community grows
exponentially.”
The project was made possible with support
from the Philadelphia Department of Commerce, Federal Home
Loan Bank, LISC, PECO, and the William Penn Foundation.
TruMark Financial Credit Union will open its doors at 5 th
& Berks in December 2008.
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ABOUT APM:
APM is a Latino based health, human services and
community development organization committed to assisting
Philadelphia area families to achieve their full potential by
offering a conglomerate of programs and services including
education for children, mental health support, drug and
alcohol treatment, health prevention and promotion and access
to affordable housing options.
ABOUT TRUMARK FINANCIAL CREDIT
UNION:
A full-service financial institution, TruMark Financial Credit
Union is a non-profit cooperative dedicated to helping its
members reach their financial well-being. Founded in 1939,
TruMark Financial’s membership originally was limited to
employees of the Bell Telephone Company of Pennsylvania. Since
then, the credit union has grown to more than 90,000 members
and $900 million in assets. Deposits at TruMark Financial are
insured at least to $100,000 by the National Credit Union
Share Insurance Fund of the National Credit Union
Administration, a U.S. government agency.
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