Guest Commentator: Lynn Ozer, President, SBA Lending Division Officer, Fulton Bank @FultonBank

Why is it important that businesses work together to uplift every neighborhood in Philadelphia? How does this promote economic prosperity for the entire city?

Building Trust One Community at a Time

We all know that in banking and finance, change adds up. But that change doesn’t always come by way of dollars and cents; it’s the change we make in our communities that matters most. For Fulton Bank, changing lives for the better is our purpose, and it’s what drives our Fulton Forward initiative.

Fulton Forward’s mission is to encourage economic prosperity. We do this by promoting financial literacy, encouraging homeownership and supporting our local communities with the goal of powering economic development.

But, we can’t do this alone. Encouraging economic prosperity is a community effort that requires the participation of government, businesses, and nonprofit partners to help our city prosper.

As a financial institution, our responsibility is to help people from every corner of the city feel knowledgeable and confident about banking. When people understand how the financial system works, they are empowered to take control of their own financial destiny. That is one of the reasons we chose to locate our new financial centers (opening later this fall) in underserved and underbanked neighborhoods.

Through the Fulton Forward program, we provide financial literacy training to people of all ages and in all parts of the city. We’ve also partnered with a nationally recognized nonprofit organization called Operation HOPE to provide financial wellbeing workshops and individual credit coaching.

We believe homeownership is the cornerstone to a prosperous community and we need businesses and non-profit organizations that are committed to assisting homebuyers and promoting affordable housing. According to the National Association of Realtors, the benefits of increasing homeownership include healthier communities, reduced crime, and increased civic participation. And, we need homeowners in all of Philadelphia’s neighborhoods.

When it comes to business prosperity, believe that when local businesses and communities thrive, so do local people. Thriving communities create new and sustainable income streams and encourage young people to make these healthy communities their home. To that end, we counsel residents to develop customized action plans to start and grow their own businesses. These efforts not only drive economic development today but also position communities for a better tomorrow.

As a banker who has been involved in the federal SBA program for decades, I’ve personally seen the difference it makes in a community when there is an abundance of locally owned businesses. Both the business owners and those they serve share community pride to the benefit of all.

We feel a great sense of responsibility to our city. By working with community partners who share our passion for community service, we know that together we can change lives for the better.

Fulton Bank is a member of the Chamber’s Roadmap for Growth Action Team, a group of business, civic and community leaders committed to the development and execution of a pro-growth, pro-jobs agenda to lift and improve Philadelphia’s economic and civic life.

Upcoming Program

With Growth & Prosperity for All: A Roadmap for Growth Conference
Discover ways businesses can collaborate to transform neighborhoods through arts, culture, and economic growth.

Tuesday, November 06, 2018
8:00 AM – 12:00 PM

American Bible Society
101 North Independence Mall East FL8
Philadelphia, PA 19106