Press Release

Medgar Evers College and Customers Bank Present
Opportunity Zones Forum Featuring Leading Industry Experts

Engaging in Opportunity Zones – Ecosystem for Economic Development

Wyomissing, Pa (May 20, 2019) – Customers Bank, a leading super-community bank with operations in Pennsylvania, District of Columbia, Illinois, New Jersey, New York and New England, partnered with Medgar Evers College in Crown Heights, New York to host a special event focused on how communities and organizations can further economic development through Opportunity Zones.

Opportunity Zones, which were created by the Tax Cuts and Jobs Act of 2017, are designated areas for the purpose of incentivizing certain types of investments in lower income areas to spur economic development. Opportunity Zones have been established in all 50 states and five U.S. territories according to the Internal Revenue Service.

This special event brings together key stakeholders, business leaders, economic development leaders and students as part of a broader plan to create a national template for the Center for Entrepreneurial Opportunity (CEO) that will be housed at Medgar Evers College’s School of Business. Participants at this event will learn from industry experts representing the Federal Reserve Bank of New York, leading tax and legal organizations and investment companies, as well as business leaders about how communities and organizations can further economic development through Opportunity Zones.

“As a community bank, one of the founding principles of Customers Bank is to increase economic opportunities in the communities we serve for both businesses and our neighbors,” stated Richard Ehst, President and Chief Operating Officer at Customers Bank. “We are very excited to partner with such a distinguished educational organization to create the CEO and look forward to seeing the impact the center has on economic development.”

Located in Central Brooklyn, Medgar Evers College is one of the youngest City University of New York (CUNY) colleges. The college was established through cooperation between community leaders and the New York City Department of Education, and many of the attending students are the first generation in their families to attend college.

“For more than 50 years, Medgar Evers College has acted as an economic and educational resource for the community of Central Brooklyn,” stated Jo-Ann Rolle, Ph.D., Dean of the School of Business at Medgar Evers College. “The Opportunity Zone Economic Forum is a comprehensive half-day event and is the first phase in creating the Center for Entrepreneurial Opportunity (CEO), with the goal of establishing an educational and collaborative forum to promote economic growth and development in our communities.”

About Medgar Evers College
Medgar Evers College is a senior college within the City University of New York system, the nation’s leading urban university. It was founded as a result of collaborative efforts by community leaders, elected officials, the chancellor, and the board of trustees of the City University of New York. The College, named after the late civil rights leader Medgar Wiley Evers (1925—1963), was established in 1970 with a mandate to meet the educational and social needs of the central Brooklyn community. The College is committed to the fulfillment of this mandate and to the belief that education has the power to positively transform the lives of individuals and is the right of all individuals in the pursuit of self-actualization. Consequently, the College’s mission is to develop and maintain high-quality, professional, career-oriented undergraduate degree programs in the context of liberal education. More information is available on the CUNY website (cuny.edu) and the Medgar Evers College website (mec.cuny.edu).

About Customers Bank
Customers Bank is a super-community bank with $10.1 billion in assets as of March 31, 2019, offering commercial and consumer banking services along the I-95 corridor from Washington, DC to Boston; and in Chicago. Commercial products include cash management; commercial and industrial loans; small business loans; SBA government-guaranteed loans; commercial and multi-family real estate loans; and financing for leasing businesses and residential developers.

Customers Bank provides consumer banking services including savings, checking, and money market accounts; certificates of deposit; residential mortgages; and consumer loans. Additional consumer products include “BankMobile Vibe online banking,” marketed by the BankMobile Division and “Ascent Money Market Savings,” marketed by the Customers Bank Digital Banking Division.

Customers Bank is a member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation. Customers Bank is an equal opportunity lender. Customers Bank takes pride in delivering extremely high levels of customer service while charging comparatively very low fees; service that makes our clients say, “Wow.”

Commercial clients enjoy Single Point of Contact service with one team to handle all banking needs. Retail bank clients are afforded Concierge Banking® Services that brings banking to them, when and where they need it.

Customers Bank, with its headquarters located in Phoenixville, Pennsylvania, is a subsidiary of Customers Bancorp, Inc., a bank holding company. The voting common shares of Customers Bancorp, Inc. are listed on the New York Stock Exchange under the symbol CUBI.