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Customers Bank Awarded $150,000 to New Jersey Community Capital


Funds will support New Jersey Community Capital’s East Trenton Collaborative

Wyomissing, Pa (April 9, 2019) – Customers Bank, a leading super-community bank with operations in Pennsylvania, District of Columbia, Illinois, New Jersey, New York and New England, awarded $150,000 to New Jersey Community Capital to support the East Trenton Collaborative through the New Jersey Department of Community Affairs Neighborhood Revitalization Tax Credit Program.

The East Trenton Collaborative is a neighborhood revitalization initiative of New Jersey Community Capital led by local residents, nonprofit organizations, and community leaders. The program is focused on promoting community-driven neighborhood planning and resident leadership; increasing the supply, accessibility and quality of affordable housing; the number of businesses and employment opportunities within East Trenton; and the availability of public services for area residents including recreation, open spaces, education, and social services.

"Customers Bank has always been fundamentally focused on improving the communities in which we operate," said Richard Ehst, President and Chief Operating Officer of Customers Bank. "That means we constantly look for ways to support community and nonprofit organizations that improve the quality of life for residents. The achievements of New Jersey Community Capital and the East Trenton Collaborative are remarkable examples of the positive effects community organizations can have on resident’s lives and we are very proud to support such an important organization and its efforts to invigorate the East Trenton community."

The contribution from Customers Bank will fund the East Trenton Collaborative’s efforts to build new homes, advance professional opportunities for youth, adults and local business, and support the East Trenton Center, which provides neighbors with a safe place to learn, organize and participate in community events.

"Our goal is to help revitalize East Trenton for the benefit of every resident by improving [the community’s] homes, businesses, and public places. The financing from Customers Bank enables us to do this critical work," said Wayne Meyer, President of New Jersey Community Capital. "We’re grateful for partners like Customers Bank, who help us strengthen organizations, invest in neighborhoods, and advance community development opportunities in underserved neighborhoods across New Jersey."

About New Jersey Community Capital

New Jersey Community Capital is a nonprofit community development financial institution (CDFI) that provides innovative financing and technical assistance to support the preservation and development of affordable housing and sustainable community development ventures that increase jobs, improve education, and strengthen neighborhoods. Founded in 1987, NJCC has invested over $630 million in New Jersey communities, resulting in the creation/preservation of over 9,950 housing units, 6,350 early care seats, 18,950 education seats, and 10,700 jobs. For more information, visit: www.newjerseycommunitycapital.org.

About Customers Bank

Customers Bank is a super-community bank with $9.8 billion in assets as of December 31, 2018, 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.

Customers Bank
1015 Penn Avenue
Wyomissing, PA 19610

Contact:
Richard Ehst
President & COO
610-505-9190