Coatesville Savings is now Prosper Bank
Name change reflects expanded reach and customer focus
The leadership of Coatesville Savings Bank said change reflects the bank’s growth and expanded footprint.
Coatesville Savings Bank has a new name — Prosper Bank.
The leadership of Coatesville Savings Bank said the name change reflects the bank’s growth and expanded footprint to serve a wider community throughout Chester, Lancaster, Lebanon, Dauphin and Cumberland counties.
“As we introduce Prosper Bank in both our existing and new markets with an unwavering focus to become the mostloved bank, we are pleased to confirm this change is in name and brand only,” Janak M. Amin, president and CEO of Prosper Bank, said in a press release. “Our Prosper Bank headquarters remains anchored in Coatesville, where it has been for over 100 years, and our commitment to support all of the existing communities we serve remains intact. Our new name is not a result of merging or being acquired by another bank.” On Thursday, the bank held a ribbon cutting ceremony at its headquarters, 185 E. Lincoln Highway, Coatesville, to officially unveil the name change. Joining Prosper Bank representatives were several Chester County community leaders, including Chester County Commissioners Josh Maxwell and Marian Moskowitz; Sonia Huntzinger, Coatesville 2nd Century Alliance economic development administrator; Gary Smith, Chester County Economic Development Council president & CEO; and James Logan, City Manager, City of Coatesville.
The announcement of the new name is the culmination of a transition that began 11 months ago with a comparison of the bank with eight competitors in the region, to analyze how the bank could do better, according to Amin.
“What emerged is a bank that provides high care, high performance and high accountability. We believe it’s our job to create convenient and affordable banking for our individual and business customers, without caveats or complexity,” he said.
“We never forget our roots and are proud to have carried the Coatesville legacy name for so long,” Doug Byers, chief banking officer at Prosper Bank, said in the release. “Just as the City of Coatesville is rising, so is Prosper Bank. The name ‘Prosper’ was used in the bank’s prior proclamation documents and is clearly stated in our purpose: to strive to be the most-loved bank that allows our families, customers and communities to prosper.”
Founded in 1919, the bank’s first branch expansion took place 43 years ago when service was extended into New Holland, Lancaster County. Today Prosper Bank serves customers online, on mobile app and in five branches in Coatesville, Georgetown/ Christiana, New Holland, Oxford and Quarryville.
Always locally managed, Coatesville Savings Bank was the only bank to remain in the City of Coatesville after the closing of Lukens Steel, and is one of the few banks in the region that remained open as an essential business provider throughout the COVID-19 pandemic, according to the company.
“This year, Prosper Bank proactively reached homebound customers, and invested over $35,000 in community donations to support local residents, first responders and local businesses in critical need,” Larry Witt, chief technology officer, Prosper Bank, said in the release.
According to Amin, Prosper Bank has invested in technology and people, “to create an excellent customer service experience.” The bank has created eight new positions in Coatesville.
“We have built a knowledgeable and diverse team where women comprise 60% of management positions. Together we are creating an inclusive and diverse culture that will provide the best possible experience for our customers and our communities,” he said. “We are committed to staying and investing in the City of Coatesville and helping its residents prosper.”
“Pride in excellent customer service is engrained in our culture. I’ve built trusting relationships with customers over three decades, and I think our new name, new products and vision will help us serve customers even better,” Doreen Broaddus, a lifetime Coatesville resident, said in the release. She started her career with the bank as a teller in 1987 and is currently the market manager at the Oxford location. Her role is expanding to lead the bank’s newly defined cash management and notfor-profit division.
In addition to new signage and investment in its facilities, Prosper Bank is providing new and updated services including: free checking options for individuals, businesses, non-profit organizations and municipalities; free ID theft protection; access to ATMs worldwide fee-free with Prosper Rewards checking; online banking with bill pay; online account opening; instant-issue debit cards and more, according to the release.
For more information about Prosper Bank, visit www.prosperbank.com