The banks in Philadelphia are trusted by the inhabitants of the city for the excellent financial services offered by them. There are both private as well as state-owned banks in Philadelphia. The banks contribute largely to the economic development of Philadelphia.
The most important banks in Philadelphia are:
- Federal Reserve Bank of Philadelphia: It is one of the significant twelve Federal Reserve Banks located in various parts of the USA. Federal Reserve Bank of Philadelphia has its separate board of directors, president and bylaws. The aim of the bank is to promote the city's economic growth. It also fosters proper banking practices, a system of reliable payments and stable prices. This bank bears the responsibility of the Third District, thus covering southern New Jersey, eastern Pennsylvania and the state of Delaware in the US. The constituency of the bank is varied and huge. It includes local businesses, depository institutions, consumers, educators, investors and community groups.
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- Allegiance Bank: It is a Pennsylvanian commercial and state-chartered bank, which offers full-service to its customers. It was established in 1999 and has its headquarters in Bala Cynwyd in Pennsylvania. It is has a branch in Philadelphia, which is located on 36 N Third Street. The other branches of the bank are King of Prussia, Worcester and Berwyn. This bank offers various services to its clients such as specialty real estate lending programs, escrow account management, Internet banking and other conventional bank services. It is also popular for its non-bank services such as title insurance, financial planning, real estate settlement services, life and health insurance as well as retirement programs.
The other popular banks in Philadelphia are National City Bank, Wachovia Bank, Citizens Bank, Bank of America, Allied Irish Bank, Abacus Federal Savings Bank and many more.
The various banks in Philadelphia are well-known for their services and a host of financial programs.
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