WILMINGTON, Del., April 18, 2011 (GLOBE NEWSWIRE) -- WSFS Financial Corporation (Nasdaq:WSFS), the parent company of WSFS Bank, today announced that it has launched The WSFS Service GuaranteeSM, a program that reinforces the Bank's brand promise to provide world-class service to each and every Customer. After six months, if a Customer feels WSFS did not meet their service expectations and as a result wants to close their account, a WSFS Associate will personally help them switch back to their previous bank and pay them $250.
"This 'money back guarantee' idea, while very common with retail products, is virtually unheard of in the banking industry," said Richard M. Wright, Executive Vice President of Retail Banking and Marketing. "We feel this concept is in lockstep with our world-class service and engagement culture; once new Customers experience relationship banking at WSFS, we feel they will value the world-class service and not want to leave. However if there is a service failure, we will help them switch back and give them $250 for their feedback as a way for us to learn and continually improve our service delivery through all our channels."
The WSFS Service GuaranteeSM is available to all new Customers as of April 17, 2011 who open a multi-product relationship with a minimum combined balance of $1,000 including a personal checking account. The WSFS Service GuaranteeSM requires the Customer to keep their checking account active with at least three transactions per month for a minimum of six months. Continued Mr. Wright, "These parameters are set to encourage non-Customers who may be apprehensive about switching their banking relationship to give us a chance to earn their business and experience our service. It's not just a means to acquire new checking accounts."
About WSFS Financial Corporation
WSFS Financial Corporation is a multi-billion dollar financial services company. Its primary subsidiary, WSFS Bank, is the oldest, locally-managed bank and trust company headquartered in Delaware with $4.0 billion in assets on its balance sheet and $7.5 billion in trust assets under administration. WSFS has 43 offices located in Delaware (36), Pennsylvania (5), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking and trust and wealth management. Other subsidiaries or divisions include Christiana Trust, WSFS Investment Group, Inc., Cypress Capital Management, LLC and Cash Connect. Serving the Delaware Valley since 1832, WSFS is the seventh oldest bank in the United States continuously operating under the same name. For more information, please visit .
Statements contained in this news release which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, which are based on various assumptions (some of which may be beyond the Company's control), are subject to risks and uncertainties and other factors which could cause actual results to differ materially from those currently anticipated. Such risks and uncertainties include, but are not limited to, those related to the economic environment, particularly in the market areas in which the Company operates; the volatility of the financial and securities markets, including changes with respect to the market value of its financial assets; changes in government regulation affecting financial institutions and potential expenses associated therewith; changes resulting from the Company's participation in the U.S. Treasury's Capital Purchase Program including additional conditions that may be imposed in the future on participating companies; the costs associated with resolving any problem loans; and other risks and uncertainties, discussed in documents filed by WSFS Financial Corporation with the Securities and Exchange Commission from time to time. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.
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